$BATL
BATTALION OIL CORP

2023 Q3 Form 10-Q Financial Statement

#000155837023015138 Filed on August 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $54.11M $54.27M
YoY Change -45.43% -46.54%
Cost Of Revenue $27.36M $14.00M
YoY Change 84.59% 5.32%
Gross Profit $26.74M $40.27M
YoY Change -68.29% -54.35%
Gross Profit Margin 49.43% 74.21%
Selling, General & Admin $6.499M $8.423M
YoY Change -35.72% -15.43%
% of Gross Profit 24.3% 20.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.43M $14.71M
YoY Change -1.39% 16.76%
% of Gross Profit 50.21% 36.53%
Operating Expenses $19.93M $39.96M
YoY Change -50.67% 3.99%
Operating Profit $6.817M $309.0K
YoY Change -84.48% -99.38%
Interest Expense -$60.62M -$5.057M
YoY Change -197.84% -86.24%
% of Operating Profit -889.19% -1636.57%
Other Income/Expense, Net -$60.62M -$5.057M
YoY Change -197.84% -86.24%
Pretax Income -$53.80M -$4.748M
YoY Change -150.81% -136.39%
Income Tax
% Of Pretax Income
Net Earnings -$53.80M -$4.748M
YoY Change -150.81% -136.39%
Net Earnings / Revenue -99.43% -8.75%
Basic Earnings Per Share -$3.50 -$0.35
Diluted Earnings Per Share -$3.50 -$0.35
COMMON SHARES
Basic Shares Outstanding 16.46M 16.46M
Diluted Shares Outstanding 16.46M 16.46M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.59M $18.51M
YoY Change 27.14% -57.58%
Cash & Equivalents $42.59M $18.51M
Short-Term Investments
Other Short-Term Assets $95.00K $197.0K
YoY Change 115.91% 19600.0%
Inventory
Prepaid Expenses $347.0K $509.0K
Receivables $27.18M $23.52M
Other Receivables $2.606M $3.665M
Total Short-Term Assets $75.29M $52.78M
YoY Change -18.7% -49.17%
LONG-TERM ASSETS
Property, Plant & Equipment $2.970M $3.188M
YoY Change -5.74% 5.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.022M $5.299M
YoY Change -76.99% 33.41%
Other Assets $10.77M $2.778M
YoY Change 267.13% -16.55%
Total Long-Term Assets $381.5M $380.5M
YoY Change -0.89% 10.16%
TOTAL ASSETS
Total Short-Term Assets $75.29M $52.78M
Total Long-Term Assets $381.5M $380.5M
Total Assets $456.8M $433.2M
YoY Change -4.34% -3.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.27M $38.29M
YoY Change -41.68% -44.09%
Accrued Expenses $22.47M $10.77M
YoY Change -38.72% -63.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $45.11M $42.61M
YoY Change 80.13% 184.04%
Total Short-Term Liabilities $141.4M $107.3M
YoY Change -15.29% -47.64%
LONG-TERM LIABILITIES
Long-Term Debt $153.5M $164.1M
YoY Change -14.44% -12.91%
Other Long-Term Liabilities $1.554M $3.432M
YoY Change 61.88% 143.75%
Total Long-Term Liabilities $155.0M $167.5M
YoY Change -14.03% -11.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $141.4M $107.3M
Total Long-Term Liabilities $155.0M $167.5M
Total Liabilities $296.4M $274.7M
YoY Change -14.64% -30.38%
SHAREHOLDERS EQUITY
Retained Earnings -$285.7M -$231.9M
YoY Change 17.91% -33.4%
Common Stock $2.000K $2.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.83M $99.32M
YoY Change
Total Liabilities & Shareholders Equity $456.8M $433.2M
YoY Change -4.34% -3.56%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$53.80M -$4.748M
YoY Change -150.81% -136.39%
Depreciation, Depletion And Amortization $13.43M $14.71M
YoY Change -1.39% 16.76%
Cash From Operating Activities $2.416M $9.338M
YoY Change -90.52% -42.66%
INVESTING ACTIVITIES
Capital Expenditures $3.914M $4.037M
YoY Change -110.91% -111.09%
Acquisitions
YoY Change
Other Investing Activities -$1.453M -$6.000K
YoY Change -2146.48% -102.34%
Cash From Investing Activities -$5.367M -$4.043M
YoY Change -85.01% -88.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.03M -10.03M
YoY Change 27762.89% -150.15%
NET CHANGE
Cash From Operating Activities 2.416M 9.338M
Cash From Investing Activities -5.367M -4.043M
Cash From Financing Activities 27.03M -10.03M
Net Change In Cash 24.08M -4.731M
YoY Change -335.67% -3528.26%
FREE CASH FLOW
Cash From Operating Activities $2.416M $9.338M
Capital Expenditures $3.914M $4.037M
Free Cash Flow -$1.498M $5.301M
YoY Change -102.44% -89.94%

Facts In Submission

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997000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-754000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
99321000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
63705000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-92744000
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
461000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
452000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-29048000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
13047000
CY2022Q2 batl Purchase Of Shares To Cover Individuals Tax Withholding Value
PurchaseOfSharesToCoverIndividualsTaxWithholdingValue
6000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
594000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-15413000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
105888000
CY2022Q3 batl Purchase Of Shares To Cover Individuals Tax Withholding Value
PurchaseOfSharesToCoverIndividualsTaxWithholdingValue
25000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
893000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
91343000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-7652000
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
937000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
84628000
us-gaap Profit Loss
ProfitLoss
18063000
us-gaap Profit Loss
ProfitLoss
-79697000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
30861000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
22821000
us-gaap Share Based Compensation
ShareBasedCompensation
-545000
us-gaap Share Based Compensation
ShareBasedCompensation
857000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
23336000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
-78201000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3843000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1807000
batl Reorganization Items Non Cash
ReorganizationItemsNonCash
-744000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
-929000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
14652000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
704000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
2595000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-53000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
96000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-15965000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12596000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-81000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-438000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-34703000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5285000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8649000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
28333000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
32633000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
51377000
batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
1189000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
284000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
705000
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
96000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
11000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-31739000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-51986000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
20000000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15043000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
85000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
379000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
24375000
batl Payment Of Offering Costs And Other
PaymentOfOfferingCostsAndOther
454000
batl Payment Of Offering Costs And Other
PaymentOfOfferingCostsAndOther
467000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8878000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19069000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14212000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4584000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32816000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48359000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18604000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43775000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18514000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32726000
CY2023Q2 batl Number Of Shareholders In Private Placement
NumberOfShareholdersInPrivatePlacement
3
CY2023Q2 batl Commitment Letter From Investors To Purchase Additional Equity
CommitmentLetterFromInvestorsToPurchaseAdditionalEquity
38000000
CY2023Q2 batl Commitment Letter From Investors To Purchase Additional Equity
CommitmentLetterFromInvestorsToPurchaseAdditionalEquity
38000000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:14pt 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>
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
90000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
90000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18604000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32816000
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 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 June 30, 2023, the Company’s derivative counterparties include two major financial institutions, both of which are secured lenders under the Amended Term Loan Agreement.</p>
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y3M18D
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y3M18D
us-gaap Operating Lease Cost
OperatingLeaseCost
196000
us-gaap Operating Lease Cost
OperatingLeaseCost
196000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
375000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4003000
us-gaap Lease Cost
LeaseCost
571000
us-gaap Lease Cost
LeaseCost
4199000
us-gaap Operating Lease Payments
OperatingLeasePayments
196000
us-gaap Operating Lease Payments
OperatingLeasePayments
196000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y4M24D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0429
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0429
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
163000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
163000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
162000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
162000
batl Crude Oil Average Price
CrudeOilAveragePrice
83.23
batl Crude Oil Average Price
CrudeOilAveragePrice
85.82
batl Natural Gas Price
NaturalGasPrice
4.76
batl Natural Gas Price
NaturalGasPrice
5.13
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
220265000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
235190000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
42606000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
35067000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13604000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
17447000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
164055000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
182676000
CY2023Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
9900000
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
13000000.0
CY2023Q1 us-gaap Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
25000000.0
us-gaap Dividends Preferred Stock
DividendsPreferredStock
1500000
CY2023Q2 us-gaap Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
25000000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.88
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000
batl Fair Value Measurement Asset Transfers Between Levels
FairValueMeasurementAssetTransfersBetweenLevels
0
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16510000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16520000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16320000
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
14910000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
21623000
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
32886000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
62935000
CY2023Q2 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
11762000
CY2022Q4 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
20997000
CY2023Q2 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
11762000
CY2022Q4 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
20997000
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
3148000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
626000
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
21124000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
41938000
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15469000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
372000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
11000
CY2023Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15852000
CY2022Q2 us-gaap Oil And Gas Delivery Commitments And Contracts Daily Production
OilAndGasDeliveryCommitmentsAndContractsDailyProduction
20000
CY2022Q2 batl Volume Commitment Term
VolumeCommitmentTerm
P5Y
CY2022Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
7300000
CY2023Q1 batl Board Of Directors Members
BoardOfDirectorsMembers
6
CY2023Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
23500000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4748000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
13047000
us-gaap Net Income Loss
NetIncomeLoss
18063000
us-gaap Net Income Loss
NetIncomeLoss
-79697000
CY2023Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
997000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2489000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1301000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5745000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13047000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14273000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-79697000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16338000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16425000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16320000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.88
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5745000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13047000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14273000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-79697000
us-gaap Dilutive Securities
DilutiveSecurities
7000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5745000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13047000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14280000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-79697000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16338000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16425000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16320000
CY2022Q2 batl Incremental Common Shares Attributable To Restricted Shares
IncrementalCommonSharesAttributableToRestrictedShares
172000
batl Incremental Common Shares Attributable To Restricted Shares
IncrementalCommonSharesAttributableToRestrictedShares
95000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16457000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000
CY2022Q2 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
CY2023Q2 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
19853000
CY2022Q4 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
33980000
CY2023Q2 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
1779000
CY2022Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
3201000
CY2023Q2 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
1886000
CY2022Q4 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
793000
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
23518000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
37974000
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
509000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
715000
CY2023Q2 batl Escrow Deposit Current
EscrowDepositCurrent
343000
CY2022Q4 batl Escrow Deposit Current
EscrowDepositCurrent
341000
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
197000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
75000
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1049000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1131000
CY2023Q2 batl Investment In Unconsolidated Affiliate
InvestmentInUnconsolidatedAffiliate
1477000
CY2022Q4 batl Investment In Unconsolidated Affiliate
InvestmentInUnconsolidatedAffiliate
1561000
CY2023Q2 batl Oil And Natural Gas Revenues Receivable Non Current
OilAndNaturalGasRevenuesReceivableNonCurrent
24000
CY2023Q2 us-gaap Escrow Deposit
EscrowDeposit
538000
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
527000
CY2023Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
739000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
739000
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2778000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2827000
CY2023Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
17884000
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
42919000
CY2023Q2 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
1928000
CY2022Q4 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
19911000
CY2023Q2 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
20392000
CY2022Q4 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
26759000
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
104000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
160000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1190000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2300000
CY2023Q2 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
7388000
CY2022Q4 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
8005000
CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
11000
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
41000
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
48897000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
100095000

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