Battalion Oil(US:BATL) Globenewswire·2025-11-13 21:43Core Insights - Battalion Oil Corporation reported financial and operational results for Q3 2025, highlighting a net loss of $15.0 million and an adjusted EBITDA of $18.9 million, reflecting a year-over-year increase from $13.5 million in Q3 2024 [7][5]. Financial Performance - Average daily net production for Q3 2025 was 12,293 Boe/d (53% oil), compared to 12,076 Boe/d (52% oil) in Q3 2024, indicating a production increase of approximately 217 Boe/d [5][20]. - Total operating revenue for Q3 2025 was $43.5 million, down from $45.3 million in Q3 2024, primarily due to a $2.24 decrease per Boe in average realized prices [5][14]. - Battalion realized 98.3% of the average NYMEX oil price during Q3 2025, with realized hedge gains totaling approximately $4.1 million [5][8]. Operational Highlights - Drilling operations in the West Quito Draw resulted in two new wells producing an average of 883 Boe/day over the first 120 days, with savings of over $1.1 million per well compared to AFE [3][4]. - The acid gas injection facility ceased operations on August 11, 2025, leading to a temporary shut-in of a portion of the Monument Draw field, with approximately 1,600 barrels of oil per day still shut-in [4][8]. Cost Management - Lease operating and workover expenses were $11.69 per Boe in Q3 2025, up from $11.56 per Boe in Q3 2024, attributed to increased water production and disposal costs [6]. - Gathering and other expenses decreased to $9.02 per Boe in Q3 2025 from $11.20 per Boe in Q3 2024, due to improved efficiency at central production facilities [6]. Liquidity and Financial Position - As of September 30, 2025, Battalion had $213.8 million in term loan indebtedness and total liquidity of $50.5 million [9]. - The company entered into an amendment of its credit facility on November 12, 2025, providing additional operational flexibility through June 30, 2027 [9][10]. Production and Pricing - Crude oil production for Q3 2025 was 599 MBbls, with an average price of $63.98 per Bbl, down from $73.73 per Bbl in Q3 2024 [20]. - Total production volumes for Q3 2025 included 1,131 MBoe, with average prices per Boe at $38.36, compared to $40.60 in Q3 2024 [20].