Each one in plain English, with the numbers worked through for a shareholder.
31 Mar 2026capital raising announcement● Neutral
Luminus converted 7,803 shares of its Series A-2 Preferred (issued Dec. 2023) into 1.8 million common shares at a $6.21 conversion price, mechanically shrinking the preferred overhang from the 2023-2024 insider financing rounds.
19 Mar 2026asset acquisition disposition▲ GoodMajor
Battalion closed an all-stock deal to acquire about 7,090 net acres in Ward County from RoadRunner Resource Holding (formerly its joint-venture partner Sundown Energy), issuing 485,000 shares; the acreage adjoins its Monument Draw position, adds roughly 30 drilling locations, and is supported by a new sour-gas treating arrangement with Targa Resources.
13 Mar 2026capital raising announcement▲ GoodMajor
Battalion agreed to buy about 7,090 net acres in Ward County, Texas from RoadRunner Resource Holding (formerly its JV partner Sundown Energy), paying entirely in stock - 485,000 restricted shares - rather than cash.
Battalion sold 1.8 million shares at $5.50 plus pre-funded warrants for up to 927,273 shares at $5.4999 to a new institutional investor in a private placement, for gross proceeds of $15.0 million. Roth Capital Partners was placement agent, and net proceeds of about $14.1 million were for working capital.
What it means for a shareholder
1.8m new shares at US$5.50 to raise about US$14.1m. That's 9.9% dilution: every existing holder's slice gets 9.9% smaller. If you held US$1,000 of shares (182 at the issue price), your slice goes from 0.0011% to 0.000996% of the company. To keep it you'd need 20 more shares - about US$110 at the issue price.
25 Feb 2026asset acquisition disposition▼ BadMajor
Battalion closed the West Quito Draw sale to MCM Delaware Resources for a cash-adjusted $60.1 million - less than a third of what it paid Shell for the same acreage in 2018 - using $40 million of the proceeds for a mandatory paydown on its Fortress credit facility.
Battalion terminated its gas-treating agreement with Wink Amine Treater after that facility sat offline since August 2025, shifting its Monument Draw gas to an alternate large-cap midstream provider whose recently expanded capacity is now processing over 30 MMcf/d (versus 17.4 MMcf/d in December) - lifting oil production by about 1,200 barrels a day month-to-date.
Battalion agreed to sell substantially all of its West Quito Draw properties in Ward County, Texas - the same acreage it paid Shell $200 million for in 2018 - to MCM Delaware Resources for about $62.6 million, with proceeds earmarked to pay down its Fortress credit facility.
NYSE American accepted Battalion's plan to fix its stockholders'-equity shortfall, giving the company until November 30, 2026 to execute it and stay listed.
NYSE American warned Battalion it no longer meets minimum stockholders'-equity listing standards, after the company reported negative equity of $1.8 million and losses in three of its last four fiscal years; Battalion must submit a compliance plan.
Battalion Oil filed its proxy statement for the June 12, 2025 annual meeting, asking shareholders to elect six directors, vote on executive pay and its frequency, and approve an amended charter.
Battalion Oil gave notice of its June 12, 2025 annual meeting, with votes on six directors, executive pay, pay-vote frequency, and an amended and restated charter.
Battalion Oil reported fourth quarter 2024 revenue of $49.7 million and a net loss to common stockholders of $30.9 million. It also refinanced its term loan and terminated the Fury Resources merger.
The final amendment closing out the Fury going-private filing confirmed the merger's termination and disclosed strong operating results in its place: a new Monument Draw drilling program running ahead of budget, two Vermejo wells producing above type-curve at 1,211 Boe/d, and its acid-gas-injection facility having processed over 5.1 billion cubic feet of sour gas.