BATTALION OIL CORP (BATL) Form 10-Q — Aug 12, 2026

$BATLForm 10-QFiled Aug 12, 2026, 4:40 PM ET0001104659-26-094946Original filing

Battalion Oil swung to Q2 2026 net income of $15.5 million, or $0.34 per share, versus net income of $4.8 million and a $(0.21) per-common-share loss a year earlier, as operating revenues rose ~12% to $48.1 million on oil realizations of $96.38 per barrel. The six-month picture is weaker: a $41.0 million net loss driven by $34.9 million in derivative losses, an average realized natural gas price of negative $3.43 per Mcf, and operating cash flow halved to $10.9 million.

Key figures

Eps: $0.34 diluted Q2 2026 vs. $(0.21) Q2 2025; $(2.25) for the six months
Revenue: $48.1 million Q2 2026 ($87.3 million for the six months ended June 30, 2026)
Net Income: $15.5 million Q2 2026 net income; $(41.0) million six-month net loss (driven by $34.9 million in derivative losses)
Total Debt: $158.2 million net carrying value ($2.0 million current + $156.2 million long-term); $162.5 million principal outstanding under the 2026 Term Loan Agreement
Debt Amount: $162.5 million term loan funded June 30, 2026, plus up to $175.0 million of uncommitted delayed-draw capacity
Revenue Yoy: Q2 up ~12.4% vs. $42.8 million in Q2 2025; six months down ~3.3% vs. $90.3 million (calculated from stated figures)
Total Assets: $432.6 million
Cash Position: $83.1 million cash and equivalents at June 30, 2026 (plus $5.3 million restricted cash), up from $28.0 million at December 31, 2025
Interest Rate: 3-month SOFR + 0.15% credit spread adjustment + 6.50% fixed margin (reduced from 7.75%-8.50% grid); prior facility weighted average rate was 11.57% in Q2 2026
Maturity Date: December 31, 2029 (no required principal payments until June 30, 2027)
Shares Outstanding: 57282155
Capex h1 2026: $7.8 million
Production q2 2026: 12,407 Boe/d (vs. 12,989 Boe/d Q2 2025)
Atm shares sold post q2: 14895784
Atm shares sold q2 2026: 17396701
Atm net proceeds post q2: $25.6 million (through July 29, 2026 when sales were suspended)
Atm net proceeds q2 2026: $30.3 million
Gen iv conversion shares: 3494259
Preferred dividend rates: 14.5% cumulative cash / 16.0% PIK accrual
Sundown acquisition value: $6.3 million all-stock (485,000 shares, 7,090 net acres)
Oil realized price q2 2026: $96.38/Bbl
Gen iv preferred repurchase: $19.0 million (August 7, 2026)
Operating cash flow h1 2026: $10.9 million vs. $22.9 million prior-year period
Debt repaid from divestiture: $45.6 million
Private placement march 2026: $15.0 million at $5.50/share
Stockholders equity june 30 2026: $203.1 million
Nyse american compliance deadline: November 30, 2026
Natural gas realized price q2 2026: -$3.43/Mcf (negative)
Atm capacity remaining june 30 2026: $118.9 million of $150.0 million program
West quuito divestiture net proceeds: $60.1 million (closed February 24, 2026)
Preferred liquidation preference june 30 2026: $198.3 million (130,197 shares)

Price after filing

1 day: -5.0%7 days: -3.5%30 days: -5.0%

Close on the filing date to close N calendar days later (from $1.41). Historical, not a forecast.

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