$BATL
BATTALION OIL CORP

2024 Q3 Form 10-Q Financial Statement

#000155837024012253 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $45.27M $49.10M
YoY Change -16.34% -9.52%
Cost Of Revenue $25.29M $24.08M
YoY Change -7.57% 72.03%
Gross Profit $19.97M $25.02M
YoY Change -25.31% -37.87%
Gross Profit Margin 44.12% 50.96%
Selling, General & Admin $6.386M $6.689M
YoY Change -1.74% -20.59%
% of Gross Profit 31.97% 26.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.53M $13.21M
YoY Change -6.65% -10.2%
% of Gross Profit 62.75% 52.81%
Operating Expenses $18.92M $19.90M
YoY Change -5.05% -50.2%
Operating Profit $1.054M $5.120M
YoY Change -84.54% 1556.96%
Interest Expense $20.57M -$5.225M
YoY Change -133.94% 3.32%
% of Operating Profit 1951.99% -102.05%
Other Income/Expense, Net $20.57M -$5.225M
YoY Change -133.94% 3.32%
Pretax Income $21.63M -$105.0K
YoY Change -140.2% -97.79%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $21.63M -$105.0K
YoY Change -140.2% -97.79%
Net Earnings / Revenue 47.78% -0.21%
Basic Earnings Per Share $0.34 -$0.53
Diluted Earnings Per Share $0.34 -$0.53
COMMON SHARES
Basic Shares Outstanding 16.46M 16.46M
Diluted Shares Outstanding 16.52M 16.46M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.83M $54.43M
YoY Change -29.95% 193.99%
Cash & Equivalents $29.83M $54.43M
Short-Term Investments
Other Short-Term Assets $50.00K $78.00K
YoY Change -47.37% -60.41%
Inventory
Prepaid Expenses $492.0K $396.0K
Receivables $21.06M $24.89M
Other Receivables $4.368M $3.651M
Total Short-Term Assets $57.57M $86.11M
YoY Change -23.53% 63.13%
LONG-TERM ASSETS
Property, Plant & Equipment $2.356M $2.516M
YoY Change -20.67% -21.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $8.188M $5.707M
YoY Change 304.95% 7.7%
Other Assets $20.83M $20.92M
YoY Change 93.47% 652.92%
Total Long-Term Assets $400.5M $401.2M
YoY Change 4.98% 5.45%
TOTAL ASSETS
Total Short-Term Assets $57.57M $86.11M
Total Long-Term Assets $400.5M $401.2M
Total Assets $458.0M $487.3M
YoY Change 0.28% 12.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.22M $60.87M
YoY Change 21.32% 58.98%
Accrued Expenses $16.70M $15.89M
YoY Change -25.71% 47.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $50.11M $52.61M
YoY Change 11.08% 23.47%
Total Short-Term Liabilities $122.0M $155.3M
YoY Change -13.69% 44.75%
LONG-TERM LIABILITIES
Long-Term Debt $92.67M $101.2M
YoY Change -39.62% -38.32%
Other Long-Term Liabilities $10.76M $10.72M
YoY Change 592.47% 212.33%
Total Long-Term Liabilities $103.4M $111.9M
YoY Change -33.28% -33.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.0M $155.3M
Total Long-Term Liabilities $103.4M $111.9M
Total Liabilities $225.5M $267.2M
YoY Change -23.94% -2.76%
SHAREHOLDERS EQUITY
Retained Earnings -$262.7M -$284.3M
YoY Change -8.05% 22.61%
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 $34.98M $22.67M
YoY Change
Total Liabilities & Shareholders Equity $458.0M $487.3M
YoY Change 0.28% 12.48%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $21.63M -$105.0K
YoY Change -140.2% -97.79%
Depreciation, Depletion And Amortization $12.53M $13.21M
YoY Change -6.65% -10.2%
Cash From Operating Activities -$5.072M $29.83M
YoY Change -309.93% 219.39%
INVESTING ACTIVITIES
Capital Expenditures $6.931M $20.26M
YoY Change 77.08% 401.83%
Acquisitions
YoY Change
Other Investing Activities $51.00K $6.401M
YoY Change -103.51% -106783.33%
Cash From Investing Activities -$6.880M -$13.86M
YoY Change 28.19% 242.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.64M -10.48M
YoY Change -146.78% 4.51%
NET CHANGE
Cash From Operating Activities -5.072M 29.83M
Cash From Investing Activities -6.880M -13.86M
Cash From Financing Activities -12.64M -10.48M
Net Change In Cash -24.60M 5.489M
YoY Change -202.16% -216.02%
FREE CASH FLOW
Cash From Operating Activities -$5.072M $29.83M
Capital Expenditures $6.931M $20.26M
Free Cash Flow -$12.00M $9.566M
YoY Change 701.27% 80.46%

Facts In Submission

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CommonStockValue
2000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
2000
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
306969000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
321012000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-284301000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-252993000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
22670000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
68021000
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
487291000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
485338000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
68021000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-31203000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
5632000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
127000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
31313000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-105000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
8586000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
48000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
22670000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
84628000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
22811000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
1492000
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 Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
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 Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
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
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
32688000
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
5695000
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
196000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
68021000
us-gaap Profit Loss
ProfitLoss
-31307000
us-gaap Profit Loss
ProfitLoss
18063000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
26238000
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
30861000
us-gaap Share Based Compensation
ShareBasedCompensation
135000
us-gaap Share Based Compensation
ShareBasedCompensation
-545000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
-15327000
batl Unrealized Gain Loss On Derivatives Net Of Premium Amortization
UnrealizedGainLossOnDerivativesNetOfPremiumAmortization
23336000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3390000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3843000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
774000
batl Accrued Settlements On Derivative Contracts
AccruedSettlementsOnDerivativeContracts
-929000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
1365000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
704000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-179000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-53000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
445000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-15965000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-85000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-81000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
20730000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-34703000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
33741000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8649000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
44849000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
32633000
batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
7015000
batl Proceeds Payments From Sale Of Oil And Gas Property And Equipment
ProceedsPaymentsFromSaleOfOilAndGasPropertyAndEquipment
1189000
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
47000
us-gaap Payments To Acquire Management Contract Rights
PaymentsToAcquireManagementContractRights
7795000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
17000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
284000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
13000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
11000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-45706000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-31739000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
39853000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15043000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
129000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
38849000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
24375000
batl Proceeds From Merger Deposit
ProceedsFromMergerDeposit
10000000
batl Payment Of Offering Costs And Other
PaymentOfOfferingCostsAndOther
454000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8867000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8878000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3098000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14212000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57619000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32816000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54521000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18604000
us-gaap Interest Paid Net
InterestPaidNet
12512000
us-gaap Interest Paid Net
InterestPaidNet
14561000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-45500000
CY2024Q2 batl Working Capital
WorkingCapital
-69100000
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;">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 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">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>
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54430000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
57529000
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
91000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
90000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54521000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57619000
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, 2024, 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 4, “<i style="font-style:italic;">Debt</i>”).</p>
batl Crude Oil Average Price
CrudeOilAveragePrice
79.45
batl Crude Oil Average Price
CrudeOilAveragePrice
83.23
batl Natural Gas Price
NaturalGasPrice
2.32
batl Natural Gas Price
NaturalGasPrice
4.76
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
160363000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
200215000
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
52606000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
50106000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6572000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9833000
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
101185000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
140276000
CY2024Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
4400000
CY2024Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
4400000
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6900000
us-gaap Interest Expense Debt
InterestExpenseDebt
3400000
us-gaap Interest Expense Debt
InterestExpenseDebt
3800000
batl Fair Value Measurement Asset Transfers Between Levels
FairValueMeasurementAssetTransfersBetweenLevels
0
CY2023 batl Fair Value Measurement Asset Transfers Between Levels
FairValueMeasurementAssetTransfersBetweenLevels
0
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
10483000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
13869000
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
45189000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
33249000
CY2024Q2 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
10483000
CY2023Q4 batl Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
13218000
CY2024Q2 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
10483000
CY2023Q4 batl Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
13218000
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
0
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
651000
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
34706000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
20031000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
17458000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
477000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
200000
CY2024Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
18135000
CY2022Q2 us-gaap Oil And Gas Delivery Commitments And Contracts Daily Production
OilAndGasDeliveryCommitmentsAndContractsDailyProduction
20000
CY2022Q2 batl Volume Commitment Term
VolumeCommitmentTerm
P5Y
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-105000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-4748000
us-gaap Net Income Loss
NetIncomeLoss
-31307000
us-gaap Net Income Loss
NetIncomeLoss
18063000
CY2024Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
8586000
CY2023Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
997000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
14218000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2489000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1301000
CY2024Q2 batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
-8691000
CY2023Q2 batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
-5745000
batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
-45525000
batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
14273000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16425000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.77
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
CY2024Q2 batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
-8691000
CY2023Q2 batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
-5745000
batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
-45525000
batl Net Income Loss Available To Common Stockholders
NetIncomeLossAvailableToCommonStockholders
14273000
us-gaap Dilutive Securities
DilutiveSecurities
7000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8691000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5745000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-45525000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14280000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16457000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16425000
batl Incremental Common Shares Attributable To Restricted Shares
IncrementalCommonSharesAttributableToRestrictedShares
95000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16457000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16457000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16457000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16520000
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.77
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000
CY2023Q2 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
500000
CY2024Q2 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
21243000
CY2023Q4 batl Oil And Natural Gas Revenues Receivable Current
OilAndNaturalGasRevenuesReceivableCurrent
19802000
CY2024Q2 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
2095000
CY2023Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
2138000
CY2024Q2 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
1556000
CY2023Q4 batl Other Receivables Increase Decrease Net Current
OtherReceivablesIncreaseDecreaseNetCurrent
1081000
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
24894000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
23021000
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
396000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
490000
CY2024Q2 batl Escrow Deposit Current
EscrowDepositCurrent
347000
CY2023Q4 batl Escrow Deposit Current
EscrowDepositCurrent
345000
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
78000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
72000
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
821000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
907000
CY2024Q2 batl Investment In Unconsolidated Affiliate
InvestmentInUnconsolidatedAffiliate
1093000
CY2023Q4 batl Investment In Unconsolidated Affiliate
InvestmentInUnconsolidatedAffiliate
1283000
CY2024Q2 batl Contract Asset
ContractAsset
18498000
CY2023Q4 batl Contract Asset
ContractAsset
15062000
CY2024Q2 us-gaap Escrow Deposit
EscrowDeposit
565000
CY2023Q4 us-gaap Escrow Deposit
EscrowDeposit
552000
CY2024Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
760000
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
759000
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
20916000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17656000
CY2024Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
34522000
CY2023Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
24915000
CY2024Q2 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
6694000
CY2023Q4 batl Accrued Cost Of Oil And Gas Costs
AccruedCostOfOilAndGasCosts
15337000
CY2024Q2 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
26345000
CY2023Q4 batl Revenues And Royalties Payable Current
RevenuesAndRoyaltiesPayableCurrent
18986000
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1052000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
520000
CY2024Q2 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
7512000
CY2023Q4 batl Accrued Oil And Gas Lease Operating Expense
AccruedOilAndGasLeaseOperatingExpense
6418000
CY2024Q2 batl Other Accrued Liabilities Reversals Current
OtherAccruedLiabilitiesReversalsCurrent
331000
CY2023Q4 batl Other Accrued Liabilities Reversals Current
OtherAccruedLiabilitiesReversalsCurrent
349000
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
76456000
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
66525000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3400000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001558370-24-012253-index.html Edgar Link pending
0001558370-24-012253.txt Edgar Link pending
0001558370-24-012253-xbrl.zip Edgar Link pending
batl-20240630.xsd Edgar Link pending
batl-20240630x10q.htm Edgar Link pending
batl-20240630xex31.htm Edgar Link pending
batl-20240630xex32.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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batl-20240630_def.xml Edgar Link unprocessable
batl-20240630x10q_htm.xml Edgar Link completed
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batl-20240630_cal.xml Edgar Link unprocessable