Form 8-K

8-K — BATTALION OIL CORP

Accession: 0001104659-26-060323

Filed: 2026-05-13

Period: 2026-05-13

CIK: 0001282648

SIC: 1311 (CRUDE PETROLEUM & NATURAL GAS)

Item: Results of Operations and Financial Condition

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — batl-20260513x8k.htm (Primary)

EX-99.1 (batl-20260513xex99d1.htm)

GRAPHIC (batl-20260513xex99d1001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: batl-20260513x8k.htm · Sequence: 1

Battalion Oil Corp_May 13, 2026

0001282648false00012826482026-05-132026-05-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 13, 2026

Battalion Oil Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-35467

20-0700684

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

820 Gessner Road

Suite 1100

Houston, Texas

77024

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (832) 538-0300

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock par value $0.0001

BATL

NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On May 13, 2026, Battalion Oil Corporation (the “Company”) issued a press release with respect to the Company’s first quarter 2026 financial results. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The press release contains certain measures discussed below that may be deemed “non-GAAP financial measures” as defined in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In each case, the most directly comparable GAAP financial measure and information reconciling the GAAP and non-GAAP measures is also included in the press release.

Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

From time to time management discloses net income (loss) and earnings per share excluding selected items as well as EBITDA, LTM EBITDA, cash flow from operations, general and administrative expenses adjusted for selected items. These measures are presented based on management’s belief that these non-GAAP measures enable a user of the financial information to understand the impact of these items on reported results. Additionally, this presentation provides a beneficial comparison to similarly adjusted measurements of prior periods. These measures are not measures of financial performance under GAAP and should not be considered as an alternative to net income, earnings per share and cash flow from operations, as defined by GAAP. These measures may not be comparable to similarly named non-GAAP measures that other companies may use and may not be useful in comparing the performance of those companies to our performance.

Item 8.01

Other Events.

The press release furnished as Exhibit 99.1 to this Current Report on Form 8-K is incorporated herein by reference.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are furnished as part of this Current Report on Form 8-K:

Exhibit No.

Description

99.1

Press release issued by Battalion Oil Corporation dated May 13, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BATTALION OIL CORPORATION

May 13, 2026

By:

/s/ Matthew B. Steele

Name:

Matthew B. Steele

Title:

Chief Executive Officer

EX-99.1

Filename: batl-20260513xex99d1.htm · Sequence: 2

Exhibit 99.1

Battalion Oil Corporation Announces First Quarter 2026 Financial and Operating Results

HOUSTON, TEXAS – May 13, 2026 – Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced financial and operating results for the first quarter of 2026.

Key Highlights

● The Company ended the quarter with positive equity of $157.1 million. This provides further basis for the Company to attain compliance with NYSE listing requirements

● Reduced net debt (gross debt less cash and reinvestment proceeds) to $108.3 million vs $180.2 million in Q4 2025

● Divested West Quito Assets for net proceeds of $60.1 million, utilizing $45.6 million to repay amounts outstanding under our Term Loan

● Executed a private placement to an institutional investor for purchase of common stock at $5.50 per share for total gross proceeds of $15.0 million

● Converted 7,803 shares of preferred stock to 1.8 million common shares at a conversion price of $6.21 per share

● Acquired 7,090 net acres and production directly adjacent to our Monument Draw asset for 485,000 shares of common stock

● Generated first quarter 2026 sales volumes of 12,578 barrels of oil equivalent per day (“Boe/d”) (47% oil), an increase from 11,207 Boe/d in Q4 2025

● Lease operating and workover expense per BOE reduced by ~24% vs Q4 2025

● Continued strategic negotiations related to refinancing, a carried drilling venture, and infrastructure to place Monument Draw oil production on a pipeline rather than trucking to sales

● “Cube” style development planned in additional proven benches to greatly expand inventory

Management Comments

The Company continues to make significant progress both operationally and strategically. Production volumes continue to benefit from the termination of the gas treating agreement and subsequent entry into a long-term treating agreement with a proven midstream partner. The sale of our West Quito Assets resulted in a substantial reduction of debt. The production impact of selling the assets was more than offset by increased flow in Monument Draw. Ongoing strategic negotiations should further improve the balance sheet, reduce operating costs and create outsized returns for our 2026 development plans.

“We continue to focus on improving our balance sheet and maximizing returns from our holdings in Monument Draw. Q1 2026 was an inflection point for the Company. The sale of our West Quito Assets transformed our leverage profile. Changing our gas midstream partner has been a gamechanger for the operational reliability of the Company. The team continued to improve field operations, lowering unit costs in all categories. Moving forward we are working to execute definitive documents for a refinancing, a carried drilling venture, and oil on pipe infrastructure. A refinancing will lower our cost to service debt as well as give additional flexibility for development of the asset base. The carried drilling

deal will move the Company toward multiple bench “cube” style development that has been very successfully employed by offset operators. We expect to execute definitive documents and commence drilling in late Q2 2026. Transporting our crude to sales point via pipeline rather than trucking will both save money and reduce environmental exposure. This project is expected to come online in early Q3 2026 and save the Company up to $6 million annually. 2026 has been and continues to be a very exciting year for the Company,” said Matt Steele, Chief Executive Officer of Battalion.

Results of Operations

Average daily net production and total operating revenue during the first quarter of 2026 were 12,578 Boe/d (47% oil) and $39.2 million, respectively, as compared to production and revenue of 11,900 Boe/d (53% oil) and $47.5 million, respectively, during the first quarter of 2025. The decrease in revenues in the first quarter of 2026 as compared to the first quarter of 2025 is primarily attributable to a $9.73 decrease per Boe in average realized prices (excluding the impact of hedges) partially offset by an approximate 678 Boe/d increase in average daily production resulting from more consistent and reliable processing. Excluding the impact of hedges, Battalion realized approximately 97% of the average NYMEX oil price during the first quarter of 2026. Realized hedge losses totaled approximately $1.0 million during the first quarter of 2026.

Lease operating and workover expense was $9.82 per Boe in the first quarter of 2026 versus $11.01 per Boe in the first quarter of 2025. The decrease in lease operating and workover expense per Boe year-over-year is primarily the result of increased production and lower workover activity. Gathering and other expenses were $9.94 per Boe in the first quarter of 2026 versus $11.20 per Boe in the first quarter of 2025. The decrease in gathering and other expenses per Boe is primarily related to realized savings from capital projects and more reliable throughput resulting from entry into a long-term processing agreement with a publicly traded large-cap midstream provider in January 2026. General and administrative expenses were $3.76 per Boe in the first quarter of 2026 compared to $4.12 per Boe in the first quarter of 2025. The decrease in general and administrative expenses for the first quarter of 2026 is primarily due to increased production. Excluding non-recurring charges, general and administrative expenses would have been $3.02 per Boe in the first quarter of 2026 compared to $3.01 per Boe in the first quarter of 2025.

For the first quarter of 2026, the Company reported a net loss available to common stockholders of $64.8 million and a net loss of $3.72 per share available to common stockholders. The majority of this loss is due to unrealized non-cash derivative losses resulting from elevated oil prices at the end of the quarter. Unrealized derivative losses reflect the accounting remeasurement of the Company’s derivative portfolio based on changes in the market value of contracts that remain open and do not represent current-period cash inflows or outflows. After adjusting for selected items, the Company reported an adjusted diluted net loss available to common stockholders for the first quarter of 2026 of $16.2 million or an adjusted diluted net loss of $0.93 per common share (see Reconciliation for additional information). Adjusted EBITDA during the quarter ended March 31, 2026 was $10.0 million as compared to $15.1 million during the quarter ended March 31, 2025 (see Adjusted EBITDA Reconciliation table for additional information).

Liquidity and Balance Sheet

As of March 31, 2026, the Company had $162.5 million of term loan indebtedness outstanding and total liquidity made up of cash and cash equivalents and reinvestment proceeds of $54.3 million.

For additional details on liquidity, financial position, and recent developments, please refer to Management’s Discussion and Analysis included in Battalion’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026.

Forward Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements. Forward-looking statements include, among others, statements about anticipated production, liquidity, capital spending, drilling and completion plans, and forward guidance. Forward-looking statements may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", “projects,” "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC's website at www.sec.gov or through the Company's website at www.battalionoil.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations.

About Battalion

Battalion Oil Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.

Contact

Matthew B. Steele

Chief Executive Officer & Principal Financial Officer

832-538-0300

BATTALION OIL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except per share amounts)

Three Months Ended

March 31,

2026

2025

Operating revenues:

Oil, natural gas and natural gas liquids sales:

Oil

36,282

39,700

Natural gas

(1,493)

2,823

Natural gas liquids

4,273

4,862

Total oil, natural gas and natural gas liquids sales

39,062

47,385

Other

112

Total operating revenues

39,174

47,475

Operating expenses:

Production:

Lease operating

10,094

10,358

Workover and other

1,018

1,433

Taxes other than income

2,324

2,800

Gathering and other

11,250

12,000

General and administrative

4,260

4,413

Depletion, depreciation and accretion

12,362

13,080

Total operating expenses

41,308

44,084

(Loss) income from operations

(2,134)

3,391

Other (expenses) income:

Net (loss) gain on derivative contracts

(47,964)

9,302

Interest expense and other

(5,517)

(6,670)

Loss on extinguishment of debt

(862)

—

Total other (expenses) income

(54,343)

2,632

(Loss) income before income taxes

(56,477)

6,023

Income tax benefit (provision)

—

Net (loss) income

(56,477)

6,023

Preferred dividends

(8,331)

(11,820)

Net (loss) income available to common stockholders

(64,808)

(5,797)

Net (loss) income per share of common stock available to common stockholders:

Basic

(3.72)

(0.35)

Diluted

(3.72)

(0.35)

Weighted average common shares outstanding:

Basic

17,415

16,457

Diluted

17,415

16,457

BATTALION OIL CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands, except share and per share amounts)

March 31, 2026

December 31, 2025

Current assets:

Cash and cash equivalents

46,373

27,965

Accounts receivable, net

19,597

12,071

Assets from derivative contracts

7,434

16,145

Restricted cash

7,958

Prepaids and other

742

892

Total current assets

82,104

57,164

Oil and natural gas properties (full cost method):

Evaluated

827,996

890,050

Unevaluated

54,334

48,025

Gross oil and natural gas properties

882,330

938,075

Less: accumulated depletion

(560,069)

(547,982)

Net oil and natural gas properties

322,261

390,093

Other operating property and equipment:

Other operating property and equipment

4,678

Less: accumulated depreciation

(2,831)

(2,807)

Net other operating property and equipment

1,847

1,871

Other noncurrent assets:

Assets from derivative contracts

2,008

7,350

Operating lease right of use assets

660

840

Other assets

3,488

3,360

Total assets

412,368

460,678

Current liabilities:

Accounts payable and accrued liabilities

43,453

39,734

Liabilities from derivative contracts

24,612

633

Current portion of long-term debt

22,500

22,510

Operating lease liabilities

638

764

Total current liabilities

91,203

63,641

Long-term debt, net

135,882

180,955

Other noncurrent liabilities:

Liabilities from derivative contracts

10,597

1,692

Asset retirement obligations

17,514

20,837

Operating lease liabilities

104

Commitments and contingencies

Temporary equity:

Redeemable convertible preferred stock: 138,000 shares

of $0.0001 par value authorized, issued and outstanding

at December 31, 2025

—

226,241

Stockholders' equity (deficit):

Redeemable convertible preferred stock: 130,197 shares

of $0.0001 par value authorized, issued and outstanding

at March 31, 2026

221,185

—

Common stock: 100,000,000 shares of $0.0001 par value authorized;

20,541,563 and 16,456,563 shares issued and outstanding at

March 31, 2026 and December 31, 2025, respectively

Additional paid-in capital

265,405

240,202

Accumulated deficit

(329,473)

(272,996)

Total stockholders' equity (deficit)

157,119

(32,792)

Total liabilities, temporary equity and stockholders' equity

412,368

460,678

BATTALION OIL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(In thousands)

Three Months Ended

March 31,

2026

2025

Cash flows from operating activities:

Net (loss) income

(56,477)

6,023

Adjustments to reconcile net (loss) income to net cash

provided by operating activities:

Depletion, depreciation and accretion

12,362

13,080

Stock-based compensation, net

—

(109)

Unrealized gain on derivative contracts

46,937

(11,828)

Amortization/accretion of financing related costs

348

395

Loss on extinguishment of debt

862

—

Accrued settlements on derivative contracts

2,425

(560)

Other

Cash flows from operations before changes in working capital

6,459

7,054

Changes in working capital

(4,354)

5,677

Net cash provided by operating activities

2,105

12,731

Cash flows from investing activities:

Oil and natural gas capital expenditures

(3,613)

(19,800)

Proceeds received from sale of oil and natural gas assets

60,055

—

Other operating property and equipment capital expenditures

—

(6)

Other

(5)

(306)

Net cash provided by (used in) investing activities

56,437

(20,112)

Cash flows from financing activities:

Proceeds from borrowings

—

63,000

Repayments of borrowings

(45,635)

(26)

Debt issuance costs

(657)

(1,737)

Proceeds from issuance of common stock

14,025

—

Net cash (used in) provided by financing activities

(32,267)

61,237

Net increase in cash, cash equivalents and restricted cash

26,275

53,856

Cash, cash equivalents and restricted cash at beginning of period

28,056

19,803

Cash, cash equivalents and restricted cash at end of period

54,331

73,659

BATTALION OIL CORPORATION

SELECTED OPERATING DATA (Unaudited)

Three Months Ended

March 31,

2026

2025

Production volumes:

Crude oil (MBbls)

527

569

Natural gas (MMcf)

2,054

1,799

Natural gas liquids (MBbls)

263

202

Total (MBoe)

1,132

1,071

Average daily production (Boe/d)

12,578

11,900

Average prices:

Crude oil (per Bbl)

68.85

69.77

Natural gas (per Mcf)

(0.73)

1.57

Natural gas liquids (per Bbl)

16.25

24.07

Total per Boe

34.51

44.24

Cash effect of derivative contracts:

Crude oil (per Bbl)

(7.10)

(7.00)

Natural gas (per Mcf)

1.32

0.81

Natural gas liquids (per Bbl)

—

Total per Boe

(0.91)

(2.36)

Average prices computed after cash effect of settlement of derivative contracts:

Crude oil (per Bbl)

61.75

62.77

Natural gas (per Mcf)

0.59

2.38

Natural gas liquids (per Bbl)

16.25

24.07

Total per Boe

33.60

41.88

Average cost per Boe:

Production:

Lease operating

8.92

9.67

Workover and other

0.90

1.34

Taxes other than income

2.05

2.61

Gathering and other

9.94

11.20

General and administrative, as adjusted (1)

3.02

3.01

Depletion

10.68

11.83

(1) Represents general and administrative costs per Boe, adjusted for items noted in the reconciliation below:

General and administrative:

General and administrative, as reported

3.76

4.12

Stock-based compensation:

Non-cash

(0.04)

Non-recurring charges and other:

Cash

(0.74)

(1.07)

General and administrative, as adjusted(2)

3.02

3.01

Total operating costs, as reported

25.57

28.94

Total adjusting items

(0.74)

(1.11)

Total operating costs, as adjusted(3)

24.83

27.83

(2) General and administrative, as adjusted, is a non-GAAP measure that excludes non-cash stock-based compensation charges relating to equity awards under our incentive stock plan, as well as other cash charges associated with non-recurring charges and other. The Company believes that it is useful to understand the effects that these charges have on general and administrative expenses and total operating costs and that exclusion of such charges is useful for comparison to prior periods.

(3) Represents lease operating expense, workover and other expense, taxes other than income, gathering and other expense and general and administrative costs per Boe, adjusted for items noted in the reconciliation above.

BATTALION OIL CORPORATION

RECONCILIATION (Unaudited)

(In thousands, except per share amounts)

Three Months Ended

March 31,

2026

2025

As Reported:

Net (loss) income available to common stockholders - diluted (1)

(64,808)

(5,797)

Impact of Selected Items:

Unrealized loss (gain) on derivatives contracts:

Crude oil

49,808

(5,544)

Natural gas

(2,871)

(6,284)

Total mark-to-market non-cash charge

46,937

(11,828)

Change in fair value of embedded derivative liability

—

Non-recurring charges

835

1,149

Selected items, before income taxes

48,634

(10,679)

Income tax effect of selected items

—

Selected items, net of tax

48,634

(10,679)

Net loss available to common stockholders, as adjusted (2)

(16,174)

(16,476)

Diluted net (loss) income per common share, as reported

(3.72)

(0.35)

Impact of selected items

2.79

(0.65)

Diluted net loss per common share, excluding selected items (2)(3)

(0.93)

(1.00)

Net cash provided by (used in) operating activities

2,105

12,731

Changes in working capital

4,354

(5,677)

Cash flows from operations before changes in working capital

6,459

7,054

Cash components of selected items

(1,590)

1,709

Income tax effect of selected items

—

Cash flows from operations before changes in working capital, adjusted for selected items (1)

4,869

8,763

(1) Amount reflects net (loss) income available to common stockholders on a diluted basis for earnings per share purposes as calculated using the two-class method of computing earnings per share which is further described in Note 14, Earnings Per Share in our Form 10-K for the year ended December 31, 2025.

(2) Net (loss) income per share excluding selected items and cash flows from operations before changes in working capital adjusted for selected items are non-GAAP measures presented based on management's belief that they will enable a user of the financial information to understand the impact of these items on reported results. These financial measures are not measures of financial performance under GAAP and should not be considered as an alternative to net income, earnings per share and cash flows from operations, as defined by GAAP. These financial measures may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Battalion's performance.

(3) The impact of selected items for the three months ended March 31, 2026 and 2025 were calculated based upon weighted average diluted shares of 17.4 and 16.5 million, respectively, due to the net (loss) income available to common stockholders, excluding selected items.

BATTALION OIL CORPORATION

ADJUSTED EBITDA RECONCILIATION (Unaudited)

(In thousands)

Three Months Ended

March 31,

2026

2025

Net (loss) income, as reported

(56,477)

6,023

Impact of adjusting items:

Interest expense

5,841

7,189

Depletion, depreciation and accretion

12,362

13,080

Stock-based compensation

—

Interest income

(324)

(579)

Loss (gain) on extinguishment of debt

862

—

Unrealized gain on derivatives contracts

46,937

(11,828)

Non-recurring charges and other

835

1,149

Adjusted EBITDA(1)

10,036

15,082

(1) Adjusted EBITDA is a non-GAAP measure, which is presented based on management's belief that it will enable a user of the financial information to understand the impact of these items on reported results. This financial measure is not a measure of financial performance under GAAP and should not be considered as an alternative to GAAP measures, including net (loss) income. This financial measure may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Battalion's performance.

BATTALION OIL CORPORATION

ADJUSTED EBITDA RECONCILIATION (Unaudited)

(In thousands)

Three Months

Ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

Net (loss) income, as reported

(56,477)

1,795

(735)

4,796

Impact of adjusting items:

Interest expense

5,841

6,987

7,318

7,341

Depletion, depreciation and accretion

12,362

11,603

13,522

13,939

Asset impairment

—

1,072

—

Stock-based compensation

—

Interest income

(324)

(414)

(503)

(764)

Loss on extinguishment of debt

862

—

Unrealized (gain) loss on derivatives contracts

46,937

(9,313)

(1,044)

(7,248)

Non-recurring charges and other

835

1,631

324

Adjusted EBITDA(1)

10,036

13,361

18,882

18,137

Adjusted LTM EBITDA(1)

60,416

BATTALION OIL CORPORATION

ADJUSTED EBITDA RECONCILIATION (Unaudited)

(In thousands)

Three Months

Ended

March 31, 2025

December 31, 2024

September 30, 2024

June 30, 2024

Net income (loss), as reported

6,023

(22,202)

21,628

(105)

Impact of adjusting items:

Interest expense

7,189

6,135

6,873

7,610

Depletion, depreciation and accretion

13,080

14,155

12,533

13,213

Asset impairment

—

18,511

—

Stock-based compensation

Interest income

(579)

(278)

(509)

(634)

Loss (gain) on extinguishment of debt

—

7,489

—

Unrealized (gain) loss on derivatives contracts

(11,828)

1,648

(28,091)

(4,434)

Change in fair value of embedded derivative liability

—

(761)

(436)

Merger Termination Payment

—

(10,000)

—

Non-recurring charges and other

1,149

3,310

978

384

Adjusted EBITDA(1)

15,082

18,019

13,458

15,634

Adjusted LTM EBITDA(1)

62,193

(1) Adjusted EBITDA is a non-GAAP measure, which is presented based on management's belief that it will enable a user of the financial information to understand the impact of these items on reported results. This financial measure is not a measure of financial performance under GAAP and should not be considered as an alternative to GAAP measures, including net income (loss). This financial measure may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Battalion's performance.

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v3.26.1

Document and Entity Information

May 13, 2026

Document and Entity Information [Abstract]

Document Type

8-K

Document Period End Date

May 13, 2026

Entity Registrant Name

Battalion Oil Corp

Entity Incorporation, State or Country Code

Entity File Number

001-35467

Entity Tax Identification Number

20-0700684

Entity Address, Address Line One

820 Gessner RoadSuite 1100

Entity Address, City or Town

Houston

Entity Address State Or Province

Entity Address, Postal Zip Code

77024

City Area Code

832

Local Phone Number

538-0300

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common Stock par value $0.0001

Trading Symbol

BATL

Security Exchange Name

NYSEAMER

Entity Emerging Growth Company

false

Entity Central Index Key

0001282648

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