$BATL
BATTALION OIL CORP

2023 Q4 Form 10-Q Financial Statement

#000155837023019122 Filed on November 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $47.24M $54.11M
YoY Change -38.49% -45.43%
Cost Of Revenue $27.85M $27.36M
YoY Change 95.15% 84.59%
Gross Profit $19.39M $26.74M
YoY Change -68.99% -68.29%
Gross Profit Margin 41.04% 49.43%
Selling, General & Admin $7.719M $6.499M
YoY Change 26.31% -35.72%
% of Gross Profit 39.81% 24.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.34M $13.43M
YoY Change -20.3% -1.39%
% of Gross Profit 63.63% 50.21%
Operating Expenses $20.06M $19.93M
YoY Change -47.11% -50.67%
Operating Profit -$668.0K $6.817M
YoY Change -102.71% -84.48%
Interest Expense $33.36M -$60.62M
YoY Change -203.39% -197.84%
% of Operating Profit -889.19%
Other Income/Expense, Net -$60.62M
YoY Change -197.84%
Pretax Income $32.69M -$53.80M
YoY Change -527.18% -150.81%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $26.99M -$53.80M
YoY Change -452.76% -150.81%
Net Earnings / Revenue 57.14% -99.43%
Basic Earnings Per Share -$3.50
Diluted Earnings Per Share $1.64 -$3.50
COMMON SHARES
Basic Shares Outstanding 16.46M 16.46M
Diluted Shares Outstanding 16.46M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.53M $42.59M
YoY Change 75.79% 27.14%
Cash & Equivalents $57.53M $42.59M
Short-Term Investments
Other Short-Term Assets $9.989M $95.00K
YoY Change 13218.67% 115.91%
Inventory
Prepaid Expenses $490.0K $347.0K
Receivables $19.80M $27.18M
Other Receivables $3.219M $2.606M
Total Short-Term Assets $90.54M $75.29M
YoY Change 2.69% -18.7%
LONG-TERM ASSETS
Property, Plant & Equipment $372.3M $2.970M
YoY Change 11443.13% -5.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.877M $2.022M
YoY Change -9.33% -76.99%
Other Assets $17.66M $10.77M
YoY Change 524.55% 267.13%
Total Long-Term Assets $394.8M $381.5M
YoY Change -0.6% -0.89%
TOTAL ASSETS
Total Short-Term Assets $90.54M $75.29M
Total Long-Term Assets $394.8M $381.5M
Total Assets $485.3M $456.8M
YoY Change 0.0% -4.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.90M $37.27M
YoY Change -37.03% -41.68%
Accrued Expenses $23.22M $22.47M
YoY Change -24.45% -38.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $50.11M $45.11M
YoY Change 42.89% 80.13%
Total Short-Term Liabilities $134.4M $141.4M
YoY Change -18.55% -15.29%
LONG-TERM LIABILITIES
Long-Term Debt $140.3M $153.5M
YoY Change -23.21% -14.44%
Other Long-Term Liabilities $36.09M $1.554M
YoY Change 772.58% 61.88%
Total Long-Term Liabilities $176.4M $155.0M
YoY Change -5.59% -14.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $134.4M $141.4M
Total Long-Term Liabilities $176.4M $155.0M
Total Liabilities $310.8M $296.4M
YoY Change -11.67% -14.64%
SHAREHOLDERS EQUITY
Retained Earnings -$253.0M -$285.7M
YoY Change 1.22% 17.91%
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 $174.6M $40.83M
YoY Change
Total Liabilities & Shareholders Equity $485.3M $456.8M
YoY Change 0.0% -4.34%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $26.99M -$53.80M
YoY Change -452.76% -150.81%
Depreciation, Depletion And Amortization $12.34M $13.43M
YoY Change -20.3% -1.39%
Cash From Operating Activities $6.524M $2.416M
YoY Change -73.89% -90.52%
INVESTING ACTIVITIES
Capital Expenditures $9.610M $3.914M
YoY Change -75.15% -110.91%
Acquisitions
YoY Change
Other Investing Activities -$5.129M -$1.453M
YoY Change -1663.72% -2146.48%
Cash From Investing Activities -$14.74M -$5.367M
YoY Change -61.57% -85.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 23.15M 27.03M
YoY Change 83.47% 27762.89%
NET CHANGE
Cash From Operating Activities 6.524M 2.416M
Cash From Investing Activities -14.74M -5.367M
Cash From Financing Activities 23.15M 27.03M
Net Change In Cash 14.94M 24.08M
YoY Change -2110.63% -335.67%
FREE CASH FLOW
Cash From Operating Activities $6.524M $2.416M
Capital Expenditures $9.610M $3.914M
Free Cash Flow -$3.086M -$1.498M
YoY Change -77.46% -102.44%

Facts In Submission

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CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
454000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
327000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
105820000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4748000
CY2023Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
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
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-53799000
CY2023Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3863000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-827000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
40832000
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
-35736000
us-gaap Profit Loss
ProfitLoss
26191000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
44287000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
36436000
us-gaap Share Based Compensation
ShareBasedCompensation
-1231000
us-gaap Share Based Compensation
ShareBasedCompensation
1540000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
-23469000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
23911000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5789000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2726000
batl Reorganization Items Non Cash
ReorganizationItemsNonCash
-744000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
2846000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
7493000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
2582000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
3043000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-144000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
128000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11410000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1605000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-344000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-407000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-37675000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8452000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11065000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
53814000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
36695000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
86998000
batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
1189000
batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
1000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
136000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
949000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1464000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-166000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37106000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-87780000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
20122000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25066000
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
61425000
batl Payment Of Offering Costs And Other
PaymentOfOfferingCostsAndOther
454000
batl Payment Of Offering Costs And Other
PaymentOfOfferingCostsAndOther
492000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
35905000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19166000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9864000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14800000
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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42680000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33559000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42590000
CY2023Q3 batl Commitment Letter From Investors To Purchase Additional Equity
CommitmentLetterFromInvestorsToPurchaseAdditionalEquity
55000000.0
CY2023Q3 batl Commitment Letter From Investors To Purchase Additional Equity
CommitmentLetterFromInvestorsToPurchaseAdditionalEquity
55000000.0
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 GAAP 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 (“AROs”), 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>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32726000
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
90000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
90000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42680000
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 September 30, 2023, the Company’s derivative counterparties include two major financial institutions, both of which are secured lenders under the Amended Term Loan Agreement (as defined in Note 5, “<i style="font-style:italic;">Debt</i>”).</p>
us-gaap Operating Lease Cost
OperatingLeaseCost
381000
us-gaap Operating Lease Cost
OperatingLeaseCost
294000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1022000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
6112000
us-gaap Lease Cost
LeaseCost
1403000
us-gaap Lease Cost
LeaseCost
6406000
us-gaap Operating Lease Payments
OperatingLeasePayments
381000
us-gaap Operating Lease Payments
OperatingLeasePayments
294000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y2M12D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1213
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0429
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
196000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
522000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
261000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
979000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
91000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
888000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
513000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
375000
batl Crude Oil Average Price
CrudeOilAveragePrice
78.53
batl Crude Oil Average Price
CrudeOilAveragePrice
92.16
batl Natural Gas Price
NaturalGasPrice
3.42
batl Natural Gas Price
NaturalGasPrice
6.13
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
210242000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
235190000
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
45106000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
35067000
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11660000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
17447000
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
153476000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
182676000
CY2023Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
8300000
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
13000000.0
batl Fair Value Measurement Asset Transfers Between Levels
FairValueMeasurementAssetTransfersBetweenLevels
0
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
6671000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
21623000
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
71452000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
62935000
CY2023Q3 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
6671000
CY2022Q4 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
20997000
CY2023Q3 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
6671000
CY2022Q4 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
20997000
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
0
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
626000
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
64781000
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
561000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
11000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
112000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
1273000
CY2023Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
17202000
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
CY2023Q3 batl Board Of Directors Members
BoardOfDirectorsMembers
6
batl Allocated Share Based Compensation Credit
AllocatedShareBasedCompensationCredit
1200000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1500000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-53799000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
105888000
us-gaap Net Income Loss
NetIncomeLoss
-35736000
us-gaap Net Income Loss
NetIncomeLoss
26191000
CY2023Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
3863000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
6352000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-57662000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
105888000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-42088000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26191000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16340000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16436000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16327000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.50
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.48
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.60
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-57662000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
105888000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-42088000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26191000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-57662000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
105888000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-42088000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
26191000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16340000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16436000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16327000
CY2022Q3 batl Incremental Common Shares Attributable To Restricted Shares
IncrementalCommonSharesAttributableToRestrictedShares
143000
batl Incremental Common Shares Attributable To Restricted Shares
IncrementalCommonSharesAttributableToRestrictedShares
169000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16457000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16483000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16436000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16496000
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.50
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.59
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7400000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7400000
CY2023Q3 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
24571000
CY2022Q4 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
33980000
CY2023Q3 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
1668000
CY2022Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
3201000
CY2023Q3 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
938000
CY2022Q4 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
793000
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
27177000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
37974000
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
347000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
715000
CY2023Q3 batl Escrow Deposit Current
EscrowDepositCurrent
344000
CY2022Q4 batl Escrow Deposit Current
EscrowDepositCurrent
341000
CY2023Q3 us-gaap Other Assets Current
OtherAssetsCurrent
95000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
75000
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
786000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1131000
CY2023Q3 batl Investment In Unconsolidated Affiliate
InvestmentInUnconsolidatedAffiliate
1435000
CY2022Q4 batl Investment In Unconsolidated Affiliate
InvestmentInUnconsolidatedAffiliate
1561000
CY2023Q3 batl Contract Asset
ContractAsset
8050000
CY2023Q3 us-gaap Escrow Deposit
EscrowDeposit
545000
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
527000
CY2023Q3 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
738000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
739000
CY2023Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
10768000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2827000
CY2023Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
16256000
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
42919000
CY2023Q3 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
12353000
CY2022Q4 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
19911000
CY2023Q3 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
21016000
CY2022Q4 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
26759000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1548000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2300000
CY2023Q3 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
8059000
CY2022Q4 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
8005000
CY2023Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
185000
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
201000
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
59417000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
100095000

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0001558370-23-019122.txt Edgar Link pending
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batl-20230930.xsd Edgar Link pending
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