BATTALION OIL CORP
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
BATL$0.70-6.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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ITEM 1. Condensed Consolidated Financial Statements (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** (Unaudited)**
(In thousands, except per share amounts)
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Three Months Ended · · Nine Months Ended | ||||||||||||
| · · September 30, · · September 30, | ||||||||||||
| · · 2024 · · 2023 · · 2024 · · 2023 | ||||||||||||
| Operating revenues: | | | | | | | | | | | | |
| Oil, natural gas and natural gas liquids sales: | | | | | | | | | | | | |
| Oil | | $42,545 | | $43,689 | | $130,673 | | $144,072 | ||||
| Natural gas | | | (2,588) | | | 3,668 | | | (2,660) | | | 8,628 |
| Natural gas liquids | | | 5,145 | | | 6,078 | | | 15,704 | | | 18,893 |
| Total oil, natural gas and natural gas liquids sales | | | 45,102 | | | 53,435 | | | 143,717 | | | 171,593 |
| Other | | | 164 | | | 671 | | | 523 | | | 1,927 |
| Total operating revenues | | | 45,266 | | | 54,106 | | | 144,240 | | | 173,520 |
| | | | | | | | | | | | | |
| Operating expenses: | | | | | | | | | | | | |
| Production: | | | | | | | | | | | | |
| Lease operating | | | 11,602 | | | 11,152 | | | 34,193 | | | 34,208 |
| Workover and other | | | 1,249 | | | 700 | | | 3,088 | | | 4,669 |
| Taxes other than income | | | 2,532 | | | 3,307 | | | 8,872 | | | 9,677 |
| Gathering and other | | | 12,442 | | | 15,512 | | | 41,854 | | | 48,857 |
| General and administrative | | | 3,854 | | | 3,192 | | | 11,265 | | | 13,572 |
| Depletion, depreciation and accretion | | | 12,533 | | | 13,426 | | | 38,771 | | | 44,287 |
| Total operating expenses | | | 44,212 | | | 47,289 | | | 138,043 | | | 155,270 |
| Income from operations | | | 1,054 | | | 6,817 | | | 6,197 | | | 18,250 |
| | | | | | | | | | | | | |
| Other income (expenses): | | | | | | | | | | | | |
| Net gain (loss) on derivative contracts | | | 26,896 | | | (53,687) | | | 3,932 | | | (29,741) |
| Interest expense and other | | | (6,322) | | | (6,929) | | | (19,809) | | | (24,245) |
| Total other (expenses) income | | | 20,574 | | | (60,616) | | | (15,877) | | | (53,986) |
| Income (loss) before income taxes | | | 21,628 | | | (53,799) | | | (9,680) | | | (35,736) |
| Income tax benefit (provision) | | | — | | | — | | | — | | | — |
| Net income (loss) | | $21,628 | | $(53,799) | | $(9,680) | | $(35,736) | ||||
| Preferred dividends | | | (9,321) | | | (3,863) | | | (23,539) | | | (6,352) |
| Undistributed earnings allocable to preferred stockholders | | | (6,732) | | | — | | | — | | | — |
| Net income (loss) available to common stockholders | | $5,575 | | $(57,662) | | $(33,219) | | $(42,088) | ||||
| | | | | | | | | | | | | |
| Net income (loss) per share of common stock available to common stockholders: | | | | | | | | | | | | |
| Basic | | $0.34 | | $(3.50) | | $(2.02) | | $(2.56) | ||||
| Diluted | | $0.34 | | $(3.50) | | $(2.02) | | $(2.56) | ||||
| Weighted average common shares outstanding: | | | | | | | | | | | | |
| Basic | | | 16,457 | | | 16,457 | | | 16,457 | | | 16,436 |
| Diluted | | | 16,523 | | | 16,457 | | | 16,457 | | | 16,436 |
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