Monitor for execution of the refinancing and carried drilling venture in late Q2 2026, which could improve liquidity and lower debt service costs. The stock's $59M market cap and positive equity of $157M suggest a potential path to NYSE compliance, but the lack of formal guidance and declining adjusted EBITDA warrant caution. Watch for any 8-K filings on the strategic negotiations.
Price Chart
Executive Summary
Battalion Oil reported Q1 2026 revenue of $39.2M (down 17.5% YoY from $47.5M) and a GAAP net loss of $64.8M available to common stockholders ($3.72/share), driven by $47M in unrealized non-cash derivative losses. The company reduced net debt from $180.2M to $108.3M via a $60.1M asset sale and executed a $15M equity private placement, but core adjusted EBITDA fell to $10.0M from $15.1M YoY, and no formal guidance was provided.
Key Financial Metrics
Key Facts
- Q1 2026 total operating revenue $39.2M vs $47.5M YoY (-17.5%)
- GAAP net loss available to common stockholders $64.8M ($3.72/share) vs loss of $5.8M ($0.35/share) YoY
- Adjusted diluted net loss $16.2M ($0.93/share) vs $16.5M ($1.00/share) YoY
- Adjusted EBITDA $10.0M vs $15.1M YoY (-33.8%)
- Net debt reduced to $108.3M from $180.2M in Q4 2025 via $60.1M West Quito asset sale
- Executed $15.0M private placement at $5.50/share
- Converted 7,803 preferred shares to 1.8M common shares at $6.21/share
- Production increased to 12,578 Boe/d from 11,900 Boe/d YoY (+5.7%)
- Unrealized non-cash derivative loss of $47.0M due to oil price increase at quarter end
- No formal guidance provided; management expects to execute refinancing and carried drilling deal in late Q2 2026
Financial Impact
Revenue decline of $8.3M YoY; GAAP net loss swing of $59.0M vs prior-year profit; adjusted EBITDA decline of $5.1M; $60.1M asset sale proceeds used for debt reduction
Risk Factors
- No formal guidance provided, creating uncertainty around future cash flows
- Unrealized derivative losses could reverse if oil prices decline, but also expose to further volatility
- Dilution from preferred stock conversion (1.8M shares) and private placement (2.7M shares at $5.50)
- NYSE listing compliance still pending despite positive equity
- Adjusted EBITDA declining YoY despite production growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3294480 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 18d ago | 3 | $1.02 | awaiting T+20 | — | $0.8538 (−16.29%) |
Oct 1, 2026 26d ago | 8-K | $1.05 | awaiting T+20 | — | $0.8538 (−18.69%) |
Oct 1, 2026 26d ago | Press Release | $1.05 | awaiting T+20 | — | $0.8538 (−18.69%) |
Sep 30, 2026 27d ago | 8-K | $1.05 | awaiting T+20 | — | $0.8538 (−18.69%) |
Sep 30, 2026 27d ago | Press Release | $1.05 | awaiting T+20 | — | $0.8538 (−18.69%) |
Sep 24, 2026 4w ago | Press Release | $1.05 $0.8510 | ▼ −18.95% | ▼ −17.48% | $0.8538 (−18.69%) |
Sep 16, 2026 5w ago | 8-K | $1.23 $1.03 | ▼ −16.26% | ▼ −17.47% | $0.8538 (−30.59%) |
Aug 28, 2026 8w ago | Insider Cluster | $1.35 $1.08 | ▼ −20.00% | ▼ −19.81% | $0.8538 (−36.76%) |
Aug 12, 2026 10w ago | Press Release | $1.34 $1.34 | · 0.00% | ▲ +1.75% | $0.8538 (−36.28%) |
Jul 1, 2026 16w ago | 8-K | $1.29 $1.52 | ▲ +17.83% | ▲ +20.02% | $0.8538 (−33.81%) |
US Market Status
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