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March 2020 Investor Presentation – Battalion Oil Corp.

Battalion Oil Corp. · Mar 25, 2020 · 18 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. March 2020 Investor Presentation – Battalion Oil Corp. – slide 1
    Photo credit: 2020 Battalion Oil Corp. Q1 2020 Safety Stand Down, Ward County, Texas Pre-Dawn Drilling Safety Meeting INVESTOR UPDATE MARCH 2O2O
  2. March 2020 Investor Presentation – Battalion Oil Corp. – slide 2
    Executive Summary Key Milestones Since Q2 2019 1 WHY BATTALION Financial Restructuring Battalion is not Halcon Consistent record of organic value creation Office Consolidation Broad & deep experience in Permian operations Focused…
  3. March 2020 Investor Presentation – Battalion Oil Corp. – slide 3
    Distinct Future from Halcons Past; Organic Growth vs. M&A Acquisition & Asset Ownership Summary vs. Historical Leverage & WTI Benchmark Price Halcon Battalion (First acquisition to exit) Appalachia Eagle Ford / Eaglebine…
  4. March 2020 Investor Presentation – Battalion Oil Corp. – slide 4
    Current Management History Together Across Multiple Companies Managements Prior Experience Executive Management Team Richard H. Little, Chief Executive Officer Battalion management has evaluated and/or exploited among the most…
  5. March 2020 Investor Presentation – Battalion Oil Corp. – slide 5
    Oil-Rich Position in the Delaware Basin with 1.0MMBo EURs Highest-return field with 1.0 MMBo EUR wells Monument Net Acreage: 22,216 with 95% average W.I. 8,100 Gross / 5,600 Net oil production (76 % oil) 38 Gross producing…
  6. March 2020 Investor Presentation – Battalion Oil Corp. – slide 6
    Significant Experience in Horizontal, Permian Development S Midland: 180K net acres / 350+ HZ Wells N Midland: 25K net acres / 50+ HZ Wells BATL Delaware: 52K net acres / 9 HZ Wells Drilled Total D&C Cost (/Ft) Total D&C Cost (/Ft)…
  7. March 2020 Investor Presentation – Battalion Oil Corp. – slide 7
    Consistently Improving Operations and Lowering Costs Monument Draw West Quito Draw 0' BATL Well BATL Well 2,500' 5,000' 7,500' 10,000' 12,500' 15,000' 5,000 Laterals 17,500' 7,500 Laterals 20,000' 10,000…
  8. March 2020 Investor Presentation – Battalion Oil Corp. – slide 8
    by Connecting Drilling Operations and Geosciences Shale Carbonate 1,000 2602 Using 3D seismic inversion, geosteering team elected to 2601 deviate from original drilling plan due to evidence of limestones (green) while…
  9. March 2020 Investor Presentation – Battalion Oil Corp. – slide 9
    and by Connecting Completions Operations and Geosciences Managing Pump Design Stage by Stage to Mitigate Costs Mapping Carbonate Content to Lower Stimulation Cost Leveraging seismic inversion to draw correlations between frac…
  10. March 2020 Investor Presentation – Battalion Oil Corp. – slide 10
    Leading the Industry in Significant H2S Treating Capacity Commissioned liquid redox plant at Everest CPF Daily Throughput Capable of Handling Higher Concentrations in Q2 2019 with inconsistent run-times 30 18 Sulfur (MLbpd) Designed…
  11. March 2020 Investor Presentation – Battalion Oil Corp. – slide 11
    Focus on Health & Safety Awareness and Improvement Spill Occurrences per 1,000,000 bbl of Oil Production Performed 7,307 proactive EHS efforts in 2019 2.9 5.2 3.7 581 Orientation sessions with new contractors and 33% 48% 17% 30…
  12. March 2020 Investor Presentation – Battalion Oil Corp. – slide 12
    And Striving for Environmental Stewardship & Social Responsibility Key Highlights Consolidated Corporate Office Peer group leader for low level of flaring intensity (1) Sulfur incinerator online in Q120 reducing emissions 20+…
  13. March 2020 Investor Presentation – Battalion Oil Corp. – slide 13
    Q4 2019 Financial Highlights YE 2019 Capitalization & Liquidity Summary Increased annual oil production Annual growth of 6% over 2018 to 10,356 Bopd for FY 2019 with Q4 2019 oil production of 11,489 Bopd 0,000 12/31/19 Cash & Cash…
  14. March 2020 Investor Presentation – Battalion Oil Corp. – slide 14
    With Downside Protection in Place (125MM MTM Value 3/20) Downside Fixed Price Hedged Oil Volume (Bopd) 7,000 Swaps 6,000 2 Way Collars 5,000 4,000 3,000 2,000 1,000 0 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3…
  15. March 2020 Investor Presentation – Battalion Oil Corp. – slide 15
    Uniquely Positioned Today to Scale Opportunistically LTM Net Leverage 3.50x 3.09x 2.96x 3.00x 2.81x 2.42x 2.50x Average: 2.00x 1.89x 2.00x 1.76x 1.85x 1.54x 1.50x 1.11x 1.00x 0.50x 0.00x Peer 1 BATL Peer 2 Peer 3 Peer…
  16. March 2020 Investor Presentation – Battalion Oil Corp. – slide 16
    Reliable FCF from PDP & Near Term Inventory for Responsible Growth YE 2019 SEC Audited Reserves Premium Drilling Inventory in Monument (10,000 Lateral) 1st/2nd BS Upside 153 Locations 3rd BS Upside 151 Locations Wolfcamp…
  17. March 2020 Investor Presentation – Battalion Oil Corp. – slide 17
    Swiftly Calibrating Activity According to Market Environment 2019 Actuals FY 2020 Guidance Suspending remaining 2020 FY Q4 Initial Revised discretionary activity to preserve cash flow Oil Production, MBopd 10.4 11.5 11.1 11.7 10.3…
  18. March 2020 Investor Presentation – Battalion Oil Corp. – slide 18
    Photo credit: 2020 Battalion Oil Corp. Q1 2020 Safety Stand Down, Ward County, Texas Pre-Dawn Drilling Safety Meeting Contact: John-Davis Rutkauskas (832) 538-0551

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