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what it is
Battalion runs 91 wells in Texas and sells oil, gas, and liquids.
how it gets paid
Last year Battalion Oil made $193M in revenue. Crude oil was the main engine at $120M, or 62% of sales.
what just happened
Revenue hit $133M, but EPS stayed at -$1.48.
At a glance
C balance sheet — red flag territory — real financial stress
5/100 earnings predictability — expect surprises
2.6% return on capital — nothing to write home about
-$2.32 fy2024 eps est
$194M fy2024 rev est
xvary composite: 24/100 — weak
What they do
Battalion runs 91 wells in Texas and sells oil, gas, and liquids.
Battalion has 91 operated wells and 19 non-operated wells in the Delaware Basin. You are buying 64.9 MMBoe of proved reserves, not a brand story. That is the moat: a basin-bound lease book with real barrels.
How they make money
$193M
annual revenue
Crude oil
$120M
Natural gas liquids
$28M
Natural gas
$38M
Realized hedge settlements
$5M
Other sales
$2M
The products that matter
drills and sells oil and gas
Delaware Basin Assets
$193M · essentially the whole company
this single asset base generated about $193M of revenue. if the basin performs, you feel it. if it doesn't, there is nowhere else inside the portfolio to hide.
single-region exposure
oil production revenue stream
Oil Sales
$154M · 80% of revenue
oil sales account for roughly $154M of the $194M top line. that makes crude pricing the main driver of whether losses narrow or widen.
core cash driver
associated gas revenue stream
Natural Gas Sales
$39M · 20% of revenue
gas contributes about $39M. useful, but not enough to balance the oil exposure or change the macro sensitivity of the business.
secondary revenue
Key numbers
$193M
Revenue
You bring in $193M a year, but the company still carries $398M of long-term debt.
-$2.32
FY24 EPS
The business lost $2.32 a share in 2024. Your stock price is $1.14, so the loss is larger than the share price.
$398M
Long debt
Debt is bigger than the $342M market cap. That is the whole risk stack in one number.
64.9 MMBoe
Proved reserves
64.9 MMBoe tells you there is still rock to sell. It does not erase the losses.
Financial health
C
strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $398M (54% of capital)
C — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for BATL right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $133M, but EPS stayed at -$1.48.
Sales were up 207% vs. prior year. The company still posted a loss, which is hard to ignore with $398M of long-term debt.
$133M
revenue
-$1.48
eps
+207%
revenue growth
the number that mattered
Revenue jumped 207% vs. prior year to $133M. The catch is the company still lost $1.48 a share.
source: company earnings report, 2026
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What could go wrong
the #1 risk is closing risk on the Fury Resources acquisition.
high
the deal does not close
the page shows a pending $9.80 all-cash acquisition while the stock trades at $1.14. that gap means investors see a meaningful chance of delay, renegotiation, or failure.
the gap is $8.66 per share between the quote and the stated cash offer
high
oil price sensitivity overwhelms everything else
about $154M of the $194M revenue base comes from oil sales. you do not own diversification here. you own commodity exposure with a very small margin for operational mistakes.
roughly 80% of revenue is tied to oil
med
balance-sheet stress
long-term debt is $398M, equal to 54% of total capital, while the market cap is about $342M. when debt is larger than equity value, financing terms can matter more than well results.
$398M of debt versus a $342M equity value
med
earnings remain hard to trust
earnings predictability is 5 / 100 and the last reported EPS was -$0.73 versus a -$0.23 estimate. that kind of miss keeps capital expensive and investor patience short.
predictability sits at 5 / 100
$398M of debt against a $342M market cap and a stock price of $1.14 versus a stated $9.80 cash offer tells you this is an event-driven risk story, not a stable compounding story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
deal risk
the spread between $1.14 and $9.80
that gap is the market's live vote on whether the acquisition closes as advertised. if it narrows, confidence is improving. if it stays wide, something is wrong.
calendar
next earnings report
scheduled for march 26, 2026, after market close. with predictability at 5 / 100, this is not a routine update.
balance sheet
debt as a share of capital
long-term debt is already 54% of capital. you want to see that pressure ease, not drift higher.
operations
whether cost gains survive weak pricing
operating costs improved to $25.47 per barrel of oil equivalent. the next question is whether those savings matter enough when revenue is shrinking.
Analyst rankings
earnings predictability
5 / 100
in human-speak, analysts do not trust this company to produce steady earnings from quarter to quarter.
risk rank
5 / 100
this stock is safer than only 5% of names in the dataset. translation: the market sees a lot that can go wrong.
price stability
5 / 100
price stability measures how violent the stock's moves have been. a 5 / 100 score tells you the tape has been chaotic.
source: institutional data
Institutional activity
institutional ownership data for BATL is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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