Business
Battalion Oil Announces Letter of Intent for Joint Development Agreement to Accelerate Monument Draw Activity
Houston, Texas, May 05, 2026 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced the execution of a letter of intent (“LOI”) with an unaffiliated industry partner outlining the key terms of a Joint Development Agreement (“JDA”). Key Highlights Executed a LOI with an unaffiliated industry partner contemplating a JDA for an up to eight-well Monument Draw program (located in Ward County, Texas) that would provide shared capital and an ac
About this update from Battalion Oil Corporation
[{"type":"image","alt":"Battalion Oil Corporation","displaySize":"","headline":null,"caption":"Battalion Oil Corporation","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":51,"url":"https://media.zenfs.com/en/globenewswire.com/3b3039eba573b5af9c004bb0dd4e2ad3"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/CXBn7sNVX2hWGbfzlcnmkw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTcx/https://media.zenfs.com/en/globenewswire.com/3b3039eba573b5af9c004bb0dd4e2ad3","width":300,"height":51}},"lazy":false},{"type":"text","content":"Houston, Texas, May 05, 2026 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced the execution of a letter of intent (“LOI”) with an unaffiliated industry partner outlining the key terms of a Joint Development Agreement (“JDA”).","length":296,"tagName":"p"},{"type":"text","content":"Key Highlights","length":14,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Executed a LOI with an unaffiliated industry partner contemplating a JDA for an up to eight-well Monument Draw program (located in Ward County, Texas) that would provide shared capital and an accretive carry to Battalion while accelerating development of core inventory","length":269,"tagName":"p"}]},{"val":[{"type":"text","content":"Battalion would continue to operate the wells and retain a majority working interest in the program","length":99,"tagName":"p"}]},{"val":[{"type":"text","content":"Development targets the 3rd Bone Spring, Wolfcamp A, and Wolfcamp B formations in Monument Draw, building on the Company’s recently announced expansion of sour gas compression capacity in Monument Draw","length":201,"tagName":"p"}]},{"val":[{"type":"text","content":"This drilling program is expected to deliver very attractive returns and prove out extensive additional drilling locations","length":122,"tagName":"p"}]},{"val":[{"type":"text","content":"Development transitions Battalion’s operations to cube development across its primary benches, mirroring the successful co-development approach demonstrated by offset operators in the area and designed to maximize recovery and capital efficiency across the stacked-pay column","length":275,"tagName":"p"}]},{"val":[{"type":"text","content":"This is a key step in our progress toward a multi-year drilling program to generate significan...