Battalion provides operations update

Battalion Oil kicked off its Q4 drilling campaign and the first two-well pad in Monument Draw is currently ahead of plan from both cycle-time and budget perspectives. Also in Q4, the two previously announced Vermejo wells came online and are producing above expectations with initial 30-day production of 1,211 barrels of oil equivalent per day (boe/d) (84% oil) while capital costs remain below $950/ft.

To date, the acid gas injection facility has treated over 5.1 billion cu ft of sour gas and daily volumes have exceeded 30 million cu ft per day. Battalion and its JV partner continue to ramp toward full inlet capacity in the current AGI facility and the company is evaluating potential next steps for its second AGI well that is already permitted, drilled and completed in the target injection zone.