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November 2021 Invesor Update – Battalion Oil Corp.

Battalion Oil Corp. · Nov 9, 2021 · 13 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. November 2021 Invesor Update – Battalion Oil Corp. – slide 1
    INVESTOR UPDATE NOVEMBER 2021
  2. November 2021 Invesor Update – Battalion Oil Corp. – slide 2
    Battalion Oil Corporation Overview Market Snapshot Asset Overview NYSE American Symbol: BATL Q3 Production: 17.7 Mboepd Market Cap: 182 million1 Oil %: 53% Top-tier well performance with low D&C 1P Reserves - YE2020: 63.4 MMBoe…
  3. November 2021 Invesor Update – Battalion Oil Corp. – slide 3
    Q3 2021 Key Financial Highlights Capitalization & Liquidity Summary Strong Organic Deleveraging 10.4 million reduction in total net indebtedness in Q3 0,000 9/30/21 Reduced net leverage from 3.1x to 2.5x RBL Indebtedness 155,000…
  4. November 2021 Invesor Update – Battalion Oil Corp. – slide 4
    Current Hedge Positions Consolidated Crude Oil (Bbl/d) & Natural Gas Hedges (MMBtu/d) Q4 2021 2022 2023 2024 2025 Crude Oil Avg. Volume 7,837 6,489 3,811 2,499 1,120 Swaps WTI Wavg. Price 43.96 48.81 66.55 61.35 60.24 Avg.…
  5. November 2021 Invesor Update – Battalion Oil Corp. – slide 5
    Commitment to Capital Discipline and Execution Monument Draw Drilling Performance Total Well Cost per Lateral Foot 0' 2,000 2021 Actual 1,565 2019/2020 BATL Wells 1,500 2,500' Previous HK and Offset Wells 1,241 1,093 1,000 878…
  6. November 2021 Invesor Update – Battalion Oil Corp. – slide 6
    Monument Draw Inventory and Development Strategy Monument Draw Inventory Highlights Well Performance vs. Delaware Basin Peers1 Avg IP365 (bbls) Average IP365 per Lateral Foot Monument Draw wells outperforming peers during first 365…
  7. November 2021 Invesor Update – Battalion Oil Corp. – slide 7
    Southern Delaware Basin Structure and BATL Targeting Structural Top of Wolfcamp Shale 3,600 2,630 3,520 2,630 Stratigraphic Datum: Top Wolfcamp Shale 8
  8. November 2021 Invesor Update – Battalion Oil Corp. – slide 8
    Appendix
  9. November 2021 Invesor Update – Battalion Oil Corp. – slide 9
    Selected Operating Data Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Production volumes: Crude oil (MBbls) 872 877 2,396 2,589 Natural gas (MMcf) 2,589 2,266 6,777 6,437 Natural gas liquids…
  10. November 2021 Invesor Update – Battalion Oil Corp. – slide 10
    Selected Operating Data (/Boe) Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Average cost per Boe: Production: Lease operating 7.34 6.42 7.29 7.18 Workover and other 0.61 0.58 0.53 0.60…
  11. November 2021 Invesor Update – Battalion Oil Corp. – slide 11
    Adjusted EBITDA Reconciliation (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Net income (loss), as reported 13,052 (153,125) (54,252) (165,950) Impact of adjusting items:…
  12. November 2021 Invesor Update – Battalion Oil Corp. – slide 12
    Adjusted EBITDA Reconciliation (in thousands) Three Months Three Months Three Months Three Months Ended Ended Ended Ended September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 Net income (loss), as reported 13,052…
  13. November 2021 Invesor Update – Battalion Oil Corp. – slide 13
    Contact: Chris Lang (832) 538-0551

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