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Q1 2022 Earnings Presentation – Battalion Oil Corp.

Battalion Oil Corp. · May 9, 2022 · 13 slides

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Slides

  1. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 1
    INVESTOR UPDATE M AY 2 0 2 2
  2. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 2
    Battalion Oil Corporation: Delaware Pure-Play Market Snapshot Pure Play Delaware Basin Operator (40,400 net acres) Pure Play NYSE American Symbol: BATL Well performance competes with best in the basin (1,100 Mboe per well EUR) Market…
  3. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 3
    BATL Plans: Roadmap to Growth Battalion Strategy Develop our liquids-rich acreage positions to grow production and reserves efficiently Enhance returns through continued improvements in operational and cost efficiencies Maintain…
  4. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 4
    Commitment to Operational Excellence1 Monument Draw Drilling Performance Pump Efficiency (Hours/Day) 20 0 YTD 2022 Wells 18.3 FY 2021 Wells 18 2,500 2019/2020 Wells 16.8 16.5 16 5,000 14 7,500 PUMP RATE (HRS/DAY) 12…
  5. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 5
    Q1 2022 Key Financial Highlights Capitalization & Liquidity Summary Robust Commodity Pricing Continued strength in gas and NGL pricing driving increased 0,000 03/31/22 revenue expectations for 2022 Term Loan Borrowings 200,000…
  6. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 6
    ESG Initiatives Environment Social Governance Committed to sustainability through Committed to a culture of safety and Committed to accountability, risk reduced flaring, spills and emissions supporting communities where we operate…
  7. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 7
    APPENDIX
  8. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 8
    Hedge Summary As Battalion returns to development, the Companys hedge strategy is to heavily hedge base production and protect returns on future wells by hedging expected production as capital is committed Consolidated Crude Oil…
  9. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 9
    Selected Operating Data Three Months Ended March 31, 2022 2021 Production volumes: Crude oil (MBbls) 670 719 Natural gas (MMcf) 2,315 2,133 Natural gas liquids (MBbls) 273 215 Total (MBoe) 1,329 1,290 Average daily production…
  10. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 10
    Selected Operating Data (/Boe) Three Months Ended March 31, 2022 2021 Average cost per Boe: Production: Lease operating 8.67 7.34 Workover and other 0.65 0.43 Taxes other than income 3.73 2.47 Gathering and other 11.48 10.21…
  11. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 11
    Adjusted EBITDA Reconciliation (in thousands) Three Months Three Months Three Months Three Months Ended Ended Ended Ended March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 Net income (loss), as reported (92,744)…
  12. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 12
    PV-10 Reconciliation PV-10 is a non-GAAP financial measure and represents the present value of estimated future cash inflows from proved oil and gas reserves, less future development and production costs, discounted at 10% per annum to…
  13. Q1 2022 Earnings Presentation – Battalion Oil Corp. – slide 13
    Contact: Chris Lang (832) 538-0551

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