Battalion Oil
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Battalion Oil (BATL) investor relations material

Battalion Oil Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary12 Aug, 2026

Executive summary

  • Focused on acquisition, production, exploration, and development of onshore oil and gas assets in the Delaware Basin, with a significant drilling inventory and recent asset transactions.

  • Achieved positive equity of $203.1 million at quarter end, with significant progress in operations and financial strength.

  • Monument Draw development advanced, with midstream expansion completed ahead of schedule and under budget, boosting gas throughput by 20%.

  • Entered into a new $162.5M term loan agreement with up to $175M additional discretionary capacity, extending maturity to December 2029 and reducing interest margin.

  • ATM equity program established, raising $30.3M in Q2 and $25M post-quarter, supporting debt reduction.

Financial highlights

  • Q2 2026 operating revenues were $48.1M, up from $42.8M in Q2 2025, driven by higher realized prices despite lower production.

  • Net income for Q2 2026 was $15.5M, compared to $4.8M in Q2 2025; net income available to common stockholders was $9.1M ($0.34/share); adjusted diluted net loss was $4.9M ($0.11/share).

  • Adjusted EBITDA for Q2 2026 was $12.3M, down from $18.1M in Q2 2025.

  • Lease operating expenses decreased to $8.14/Boe in Q2 2026 from $9.03/Boe in Q2 2025; lease operating and workover expense per Boe decreased by ~12% year-over-year to $8.89.

  • Cash and cash equivalents at quarter end were $83.1M, with total liquidity of $88.4M.

Outlook and guidance

  • Sufficient liquidity expected for the next 12 months, with $83.1M cash on hand and access to additional debt capacity.

  • Production growth expected from new drilling at Monument Draw, supported by increased compression capacity.

  • Plans to continue cost reduction, monitor market conditions, and consider further equity or asset sales if needed.

  • ATM program to be used judiciously for further balance sheet strengthening.

  • No required debt repayments until June 2027 under the new term loan agreement; scheduled principal amortization on term loan begins Q2 2027.

Joint development agreement target formations
New credit facility delayed draw capacity
Sour gas compression capacity increase details
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Q3 202613 Nov, 2026
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