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1Q 2020 Earnings Presentation – Battalion Oil Corp.

Battalion Oil Corp. · May 12, 2020 · 10 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. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 1
    INVESTOR UPDATE M AY 2 O 2 O
  2. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 2
    Executive Summary Key Milestones Since Q2 2019 Battalion is Well Positioned to Weather the Storm Spring redetermination resulted in 17% borrowing base reduction to 200 MM effective 4/30/20 Strengthened Hedge Position Strong balance…
  3. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 3
    Immediate Reaction to Market Conditions Nimble market response; strategically shut in 10,000 Leasehold Position May 11, 2020 Operating breakeven 10.00/Boe gross bopd May 1, balancing economics, lease Monument obligations, well…
  4. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 4
    Environmental, Health & Safety / Social / Governance COVID-19 Response & EHS Update In response to COVID-19, Battalion took immediate action in March to protect the health and safety of its employees & partners and to work safely in…
  5. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 5
    Q1 2020 Operations Update: Drilling & Completions Drilling Cost ( per Foot Drilled) Monument Draw Depth vs. Days 400 0' Achieved lowest cycle time and well cost in (34)% 318 Q2 2020 Wells Q1 2020 with additional efficiencies through…
  6. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 6
    Q1 2020 Operations Update: Lease Operations Total Lease Operating Expense (/Boe) Average Workover Expense (000/Month) Reduced rentals with equipment upgrades LOE & Workover Program Achieved substantially lower downtimes 8.70 (16)%…
  7. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 7
    Q1 2020 Operations Update: H2S Treating Substantial Reduction in Unit Cost Commissioned liquid redox plant at Everest CPF in 10.00 10.00 Flow Assurance Milestones Q2 2019 with inconsistent run-times /lb /Mcfd Designed and…
  8. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 8
    Q1 2020 Financial Highlights Pro Forma Capitalization & Liquidity Summary(1) Decreased Total Operating Expenses 18.20/Boe in Q1 2020 vs 18.28/Boe in Q4 2019 and 0,000 3/31/2020 PF 25.49/Boe in Q1 2019 Cash & Cash Equivalents 938…
  9. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 9
    Current Hedge Position: 105 MM MTM 3/31 Downside Fixed Price Hedged Oil Volume (Bopd) 10,000 2- Way Collars Swaps 7,500 5,000 2,500 0 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4…
  10. 1Q 2020 Earnings Presentation – Battalion Oil Corp. – slide 10
    Adjusted EBITDA Reconciliation Successor Predecessor Three Months Three Months Ended Ended March 31, 2020 March 31, 2019 Net income (loss), as reported 114,491 (336,559) Impact of adjusting items: Interest expense 1,714 11,972…

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