PRISM MarketView Oil & Gas Index Mover: Battalion Oil Company
Battalion Oil Company (NYSE American: BATL), an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States, is up 13.7% following its latest financial and operations update. Battalion Oil Company is a top mover in the PRISM Emerging Oil and Gas Index, which tracks small and micro-cap stocks that are contributing to the energy market.
The Battalion announcement shared that the company anticipates it’s acid gas injection well to be operating before Q2 2024. Additionally, the recently announced merger with Fury is expected to close later in Q1 2024. The company has filed a preliminary proxy statement and Schedule 13e-3 with the Securities and Exchange Commission and is awaiting comments. Recent drilling has been completed ahead of plan “from both a capital and time perspective” and Battalion is preparing additional locations across Texas.
Battalion Oil Company has approximately $61 million cash on hand to fund operations and provide ample liquidity as well as additional equity commitments of more than $20 million undrawn.
“We continue to see great results from our drilling and completions operations and have once again shown well performance in Monument Draw stacks up against some of the best in the Delaware Basin,” said Battalion CEO Matt Steele.
For more information on Battalion Oil Company and other top oil and gas movers, visit https://demo4.limegoat.com/index/prism-emerging-oil-gas/
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.
