$BATL
BATTALION OIL CORP

2021 Q4 Form 10-Q Financial Statement

#000155837021015084 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $84.51M $80.82M $42.57M
YoY Change 98.53% 102.9% -35.09%
Cost Of Revenue $13.27M $12.97M $10.17M
YoY Change 30.5% 17.94% -29.68%
Gross Profit $71.24M $67.85M $32.40M
YoY Change 119.88% 135.3% -36.63%
Gross Profit Margin 84.3% 83.95% 76.11%
Selling, General & Admin $6.291M $7.573M $8.145M
YoY Change -22.76% 10.83% -7.87%
% of Gross Profit 8.83% 11.16% 25.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.68M $10.88M $13.89M
YoY Change -8.69% -30.91% -30.56%
% of Gross Profit 17.8% 16.04% 42.86%
Operating Expenses $35.93M $34.39M $38.77M
YoY Change -7.33% -4.7% -2.21%
Operating Profit $35.31M $33.46M -$6.374M
YoY Change -653.91% -124.67% -155.55%
Interest Expense -$9.249M -$22.47M -$30.68M
YoY Change -69.85% 28.15% 70.76%
% of Operating Profit -26.2% -67.17%
Other Income/Expense, Net -$20.40M
YoY Change 16.36%
Pretax Income $25.94M $13.05M -$63.76M
YoY Change -140.68% -108.52% -49.33%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $25.94M $13.05M -$63.76M
YoY Change -140.68% -108.52% -49.33%
Net Earnings / Revenue 30.69% 16.15% -149.78%
Basic Earnings Per Share $0.80
Diluted Earnings Per Share $1.594M $0.79 -$3.935M
COMMON SHARES
Basic Shares Outstanding 16.27M 16.27M
Diluted Shares Outstanding 16.43M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.86M $1.868M $4.295M
YoY Change 991.13% 2.24% -24.66%
Cash & Equivalents $46.86M $1.868M $4.295M
Short-Term Investments
Other Short-Term Assets $1.000K $249.0K $108.0K
YoY Change -99.07% -98.83% -99.31%
Inventory
Prepaid Expenses $975.0K $306.0K $892.0K
Receivables $36.81M $40.16M $32.24M
Other Receivables $2.696M $3.037M $9.461M
Total Short-Term Assets $87.91M $44.04M $47.84M
YoY Change 83.78% -10.5% -32.77%
LONG-TERM ASSETS
Property, Plant & Equipment $2.432M $2.094M $2.386M
YoY Change 1.93% -99.4% -99.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.515M $110.0K $4.009M
YoY Change -37.27% -98.86% 1689.73%
Other Assets $2.270M $2.737M $2.351M
YoY Change -3.45% -47.14% 234.42%
Total Long-Term Assets $302.4M $305.2M $298.7M
YoY Change 1.24% -16.14% -41.84%
TOTAL ASSETS
Total Short-Term Assets $87.91M $44.04M $47.84M
Total Long-Term Assets $302.4M $305.2M $298.7M
Total Assets $390.3M $349.2M $346.5M
YoY Change 12.63% -15.46% -40.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.08M $48.45M $39.26M
YoY Change 22.47% 9.81% -36.45%
Accrued Expenses $15.12M $12.32M $20.07M
YoY Change -24.69% -2.76% -44.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $85.00K $149.0K $1.720M
YoY Change -95.06% -89.36%
Total Short-Term Liabilities $121.6M $135.2M $83.18M
YoY Change 46.2% 101.07% -21.85%
LONG-TERM LIABILITIES
Long-Term Debt $181.6M $155.0M $158.5M
YoY Change 14.56% -13.31% 10.06%
Other Long-Term Liabilities $4.003M $21.77M $14.87M
YoY Change -73.09% 52.74% -15.4%
Total Long-Term Liabilities $185.6M $155.0M $158.5M
YoY Change 17.09% -19.71% -1.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $121.6M $135.2M $83.18M
Total Long-Term Liabilities $185.6M $155.0M $158.5M
Total Liabilities $307.2M $290.2M $241.7M
YoY Change 27.11% 11.49% -9.83%
SHAREHOLDERS EQUITY
Retained Earnings -$268.5M -$294.4M -$240.2M
YoY Change 11.79%
Common Stock $2.000K $2.000K $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $63.71M $37.24M $89.96M
YoY Change
Total Liabilities & Shareholders Equity $390.3M $349.2M $346.5M
YoY Change 12.63% -15.46% -40.74%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $25.94M $13.05M -$63.76M
YoY Change -140.68% -108.52% -49.33%
Depreciation, Depletion And Amortization $12.68M $10.88M $13.89M
YoY Change -8.69% -30.91% -30.56%
Cash From Operating Activities $21.44M $18.03M $2.319M
YoY Change 824.54% 277.71% -67.59%
INVESTING ACTIVITIES
Capital Expenditures -$5.724M -$9.611M -$5.359M
YoY Change 6.81% 79.75% -87.6%
Acquisitions
YoY Change
Other Investing Activities $59.00K $32.00K $25.51M
YoY Change -99.77% -98.93% 5697.27%
Cash From Investing Activities -$5.665M -$9.579M $20.15M
YoY Change -128.12% 307.96% -147.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.72M -8.043M -20.00M
YoY Change -253.58% 704.3% -169.2%
NET CHANGE
Cash From Operating Activities 21.44M 18.03M 2.319M
Cash From Investing Activities -5.665M -9.579M 20.15M
Cash From Financing Activities 30.72M -8.043M -20.00M
Net Change In Cash 46.49M 410.0K 2.468M
YoY Change 1783.75% -71.25% -136.65%
FREE CASH FLOW
Cash From Operating Activities $21.44M $18.03M $2.319M
Capital Expenditures -$5.724M -$9.611M -$5.359M
Free Cash Flow $27.16M $27.64M $7.678M
YoY Change 253.79% 173.13% -84.76%

Facts In Submission

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CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
114491000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-294419000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-240167000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
37243000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
89958000
CY2021Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
349215000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
346497000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
89958000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-33375000
CY2021Q1 batl Purchase Of Shares To Cover Individuals Tax Withholding Value
PurchaseOfSharesToCoverIndividualsTaxWithholdingValue
264000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
692000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
57011000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-33929000
CY2021Q2 batl Purchase Of Shares To Cover Individuals Tax Withholding Value
PurchaseOfSharesToCoverIndividualsTaxWithholdingValue
5000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
571000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
23648000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
13052000
CY2021Q3 batl Purchase Of Shares To Cover Individuals Tax Withholding Value
PurchaseOfSharesToCoverIndividualsTaxWithholdingValue
22000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-153125000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
744000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
152790000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
-63757000
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
925000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
89958000
us-gaap Net Income Loss
NetIncomeLoss
-54252000
us-gaap Net Income Loss
NetIncomeLoss
-165950000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
32729000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
48167000
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
188443000
us-gaap Share Based Compensation
ShareBasedCompensation
1560000
us-gaap Share Based Compensation
ShareBasedCompensation
1793000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
-69053000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
24029000
batl Reorganization Items Non Cash
ReorganizationItemsNonCash
-6440000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
2068000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
6769000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
474000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
229000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-280000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1827000
batl Cash Paid Received For Reorganization Items
CashPaidReceivedForReorganizationItems
6440000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-9000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-480000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46248000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-92503000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
145000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
119209000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
148021000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
83000000
batl Payment Of Offering Costs And Other
PaymentOfOfferingCostsAndOther
290000
batl Payment Of Offering Costs And Other
PaymentOfOfferingCostsAndOther
32000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3311000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
36177000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2427000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8448000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4295000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10275000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1868000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
8432000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-16270000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-806000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5053000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1196000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-16183000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
47132000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
47878000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
47204000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
96483000
batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
947000
batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
3500000
batl Settlement Of Asset Retirement Obligations Increase Decrease Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsIncreaseDecreaseThroughNoncashPaymentsAmount
836000
batl Settlement Of Asset Retirement Obligations Increase Decrease Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsIncreaseDecreaseThroughNoncashPaymentsAmount
-70000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Estimates and assumptions that, in the opinion of management of the Company, are significant include oil and natural gas revenue accruals, capital and operating expense accruals, oil and natural gas reserves, depletion relating to oil and natural gas properties, asset retirement obligations, and fair value estimates. The Company bases its estimates and judgments on historical experience and on various other assumptions and information believed to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company’s unaudited condensed consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 8pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:18pt;"/>Interim period results are not necessarily indicative of results of operations or cash flows for the full year and accordingly, certain information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States, has been condensed or omitted. The Company has evaluated events or transactions through the date of issuance of these unaudited condensed consolidated financial statements.</p>
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000
CY2020Q1 batl Reduction Of Discretionary Cash Incentives
ReductionOfDiscretionaryCashIncentives
1600000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Concentrations of Credit Risk</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s primary concentrations of credit risk are the risks of uncollectible accounts receivable and of nonperformance by counterparties under the Company’s derivative contracts. Each reporting period, the Company assesses the recoverability of material receivables using historical data, current market conditions and reasonable and supportable forecasts of future economic conditions to determine expected collectability of its material receivables.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s accounts receivable are primarily receivables from joint interest owners and oil and natural gas purchasers. The purchasers of the Company’s oil and natural gas production consist primarily of independent marketers, major oil and natural gas companies and gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts from its oil and natural gas purchasers. The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payments for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. Joint operating agreements govern the operations of an oil or natural gas well and, in most instances, provide for offsetting of amounts payable or receivable between the Company and its joint interest owners. The Company’s joint interest partners consist primarily of independent oil and natural gas producers. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the Company’s joint interest partners to reimburse the Company could be adversely affected.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s exposure to credit risk under its derivative contracts is varied among major financial institutions with investment grade credit ratings, where it has master netting agreements which provide for offsetting of amounts payable or receivable between the Company and the counterparty. To manage counterparty risk associated with derivative contracts, the Company selects and monitors counterparties based on an assessment of their financial strength and/or credit ratings. At September 30, 2021, the Company’s derivative counterparties include two major financial institutions, both of which are secured lenders under the Senior Credit Agreement.</p>
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y8M12D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0429
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0370
batl Employee Retention Credit Cares Act
EmployeeRetentionCreditCaresAct
700000
us-gaap Restructuring Charges
RestructuringCharges
2600000
CY2021Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y3M18D
CY2020Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
us-gaap Operating Lease Cost
OperatingLeaseCost
346000
us-gaap Operating Lease Cost
OperatingLeaseCost
1869000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
2231000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
16372000
us-gaap Variable Lease Cost
VariableLeaseCost
307000
us-gaap Variable Lease Cost
VariableLeaseCost
798000
us-gaap Lease Cost
LeaseCost
2884000
us-gaap Lease Cost
LeaseCost
19039000
us-gaap Operating Lease Payments
OperatingLeasePayments
439000
us-gaap Operating Lease Payments
OperatingLeasePayments
2093000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
841000
CY2020Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
1300000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
500000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
98000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
391000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
359000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
848000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
37000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
811000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
365000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
446000
CY2021Q3 batl Other Operating Income Including Adjustments
OtherOperatingIncomeIncludingAdjustments
312000
CY2020Q3 batl Other Operating Income Including Adjustments
OtherOperatingIncomeIncludingAdjustments
384000
batl Other Operating Income Including Adjustments
OtherOperatingIncomeIncludingAdjustments
827000
batl Other Operating Income Including Adjustments
OtherOperatingIncomeIncludingAdjustments
1222000
CY2021Q3 us-gaap Revenues
Revenues
80816000
CY2020Q3 us-gaap Revenues
Revenues
39830000
us-gaap Revenues
Revenues
200700000
us-gaap Revenues
Revenues
105723000
CY2021Q3 batl Crude Oil Average Price
CrudeOilAveragePrice
57.64
CY2021Q3 batl Natural Gas Price
NaturalGasPrice
2.94
CY2020Q3 batl Crude Oil Average Price
CrudeOilAveragePrice
43.63
CY2020Q3 batl Natural Gas Price
NaturalGasPrice
1.97
CY2020Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
128300000
CY2020Q2 batl Crude Oil Average Price
CrudeOilAveragePrice
47.37
CY2020Q3 batl Crude Oil Average Price
CrudeOilAveragePrice
43.63
batl Oil And Gas Property Unevaluated Property Costs Transferred To Full Cost Method
OilAndGasPropertyUnevaluatedPropertyCostsTransferredToFullCostMethod
23600000
CY2020Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
60100000
CY2020Q1 batl Crude Oil Average Price
CrudeOilAveragePrice
55.96
CY2020Q2 batl Crude Oil Average Price
CrudeOilAveragePrice
47.37
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
155149000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
160209000
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
155000000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
158489000
us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
As of September 30, 2021, after giving effect to the Third Amendment, discussed below, the Company was in compliance with the financial covenants under the Senior Credit Agreement.
batl Fair Value Measurement Asset Transfers Between Levels
FairValueMeasurementAssetTransfersBetweenLevels
0
CY2020 batl Fair Value Measurement Asset Transfers Between Levels
FairValueMeasurementAssetTransfersBetweenLevels
0
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
923000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
12568000
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
83823000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
26416000
CY2021Q3 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
923000
CY2020Q4 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
8968000
CY2021Q3 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
923000
CY2020Q4 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
8968000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
3600000
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
82900000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
17448000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13052000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-153125000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-54252000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-165950000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16270000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16204000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16257000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16204000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
10583000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
111000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
367000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
725000
CY2021Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
11786000
CY2021Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
2400000
CY2021Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
4800000
CY2019Q4 batl Class Of Warrant Or Right Number Of Series Of Warrants Issued
ClassOfWarrantOrRightNumberOfSeriesOfWarrantsIssued
3
CY2019Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1
CY2019Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P3Y
CY2019Q4 batl Annualized Rate Of Increase To Strike Price Of Warrants Issued
AnnualizedRateOfIncreaseToStrikePriceOfWarrantsIssued
6.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
500000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.24
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13052000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-153125000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-54252000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-165950000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16270000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16204000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16257000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16204000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
158000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16428000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16204000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16257000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16204000
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-9.45
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.24
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7400000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7700000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7800000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7600000
CY2021Q3 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
37125000
CY2020Q4 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
22781000
CY2021Q3 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
2845000
CY2020Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
8543000
CY2021Q3 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
192000
CY2020Q4 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
918000
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
40162000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
32242000
CY2021Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
306000
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
892000
CY2021Q3 batl Escrow Deposit Current
EscrowDepositCurrent
640000
CY2020Q4 batl Escrow Deposit Current
EscrowDepositCurrent
1740000
CY2021Q3 us-gaap Other Assets Current
OtherAssetsCurrent
249000
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
108000
CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1195000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2740000
CY2021Q3 batl Oil And Natural Gas Revenues Receivable Non Current
OilAndNaturalGasRevenuesReceivableNonCurrent
1427000
CY2020Q4 batl Oil And Natural Gas Revenues Receivable Non Current
OilAndNaturalGasRevenuesReceivableNonCurrent
1720000
CY2021Q3 us-gaap Escrow Deposit
EscrowDeposit
1227000
CY2020Q4 us-gaap Escrow Deposit
EscrowDeposit
581000
CY2021Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
83000
CY2020Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
50000
CY2021Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2737000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2351000
CY2021Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
24742000
CY2020Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
22740000
CY2021Q3 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
2766000
CY2020Q4 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
8344000
CY2021Q3 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
23705000
CY2020Q4 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
16412000
CY2021Q3 us-gaap Interest Payable Current
InterestPayableCurrent
503000
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
482000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3117000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3223000
CY2021Q3 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
5567000
CY2020Q4 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
7622000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
105000
CY2021Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
60403000
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
58928000

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0001558370-21-015084.txt Edgar Link pending
0001558370-21-015084-xbrl.zip Edgar Link pending
batl-20210930.xsd Edgar Link pending
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