Quarterly ResultMay 13, 2026, 04:37 PM
Battalion Oil Q1 Net Debt $108.3M; Positive Equity $157.1M
AI Summary
Battalion Oil Corporation announced its first quarter 2026 financial and operating results, highlighting a significant reduction in net debt to $108.3 million from $180.2 million in Q4 2025, and achieving positive equity of $157.1 million. The company divested West Quito Assets for $60.1 million and completed a $15.0 million private placement. Despite reporting a net loss of $64.8 million, Q1 2026 sales volumes increased to 12,578 Boe/d, and lease operating expenses per BOE decreased by approximately 24% compared to Q4 2025.
Key Highlights
- Achieved positive equity of $157.1 million, aiding NYSE listing compliance.
- Reduced net debt to $108.3 million from $180.2 million in Q4 2025.
- Divested West Quito Assets for $60.1 million, using $45.6 million for term loan repayment.
- Executed a private placement of common stock for $15.0 million gross proceeds.
- Generated Q1 2026 sales volumes of 12,578 Boe/d, up from 11,207 Boe/d in Q4 2025.
- Lease operating and workover expense per BOE reduced by ~24% vs Q4 2025.
- Reported a net loss of $64.8 million, or $3.72 per share, primarily due to non-cash derivative losses.
- Adjusted EBITDA for Q1 2026 was $10.0 million, down from $15.1 million in Q1 2025.