Battalion Oil Corporation · AMEX:BATL
Battalion Oil — Investor Presentation (August 2021)
13 slides from Battalion Oil's investor presentation, August 2021
Slide 1: Investor Update August 2021
INVESTOR UPDATE AUGUST 2021
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer: Forward Looking Statements This presentation contains forward-looking statements that are intended to be covered by the safe harbor within the meaning of the Private Securities Litigation Reform Act of 1995 as stated in Section 27A of the Securities Act of 1933, as amended (the “Securiti
Slide 3: Focused on Enhancing Free Cash Flow
Focused on Enhancing Free Cash Flow Current Leasehold Position Continued Emphasis on Margin Improvement Capital Q2 D&C spend completed under budget and ahead of schedule Activity 2021 capital program largely complete through 1H2021 AGI Progress Continuing to advance AGI project West Quito Monument W
Slide 4: Oil-Rich Position in the Delaware Basin
Oil-Rich Position in the Delaware Basin § Q2 production of ~15,571 Net Boepd (57% oil) Current Leasehold Position: ~41,400 Net Acres / 2,000+ Gross Drilling Locations § Completed and put online two well pad in Monument Draw Monument § Operating Breakeven @ $10.00/Boe § Facilities downtime in Q2 expe
Slide 5: Q2 2021 Key Financial Highlights
Q2 2021 Key Financial Highlights Capitalization & Liquidity Summary ✔ Strong Liquidity Profile § $21.5 million liquidity with 2021 capital program largely $0,000 6/30/21 completed RBL Indebtedness $ 163,000 Improved Midstream Agreements Less: Cash & Cash Equivalents (1,458) ✔ § Increased access to s
Slide 6: 2021-2022 Hedge Positions
2021-2022 Hedge Positions Downside Fixed Price Hedged Oil Volume (Bopd) 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Bopd 8,566 9,330 8,000 7,837 7,570 6,910 6,003 5,500 Price $47.06 $45.39 $43.
Slide 7: YTD 2021 Drilling & Completion Performance
YTD 2021 Drilling & Completion Performance Monument Draw Drilling Performance Total Well Cost per Lateral Foot 0' $2,000 $1,565 2021 Q1 Actual 2,500' $1,500 2021 Plan Well $1,241 2019/2020 BATL Wells $1,093 Previous HK and Offset Wells $1,000 $878 5,000' $500 7,500' $- 10,000' 1H '19 2H '19 FY '20 Y
Slide 8: Appendix
Appendix
Slide 9: Selected Operating Data
Selected Operating Data Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Production volumes: Crude oil (MBbls) 805 775 1,524 1,712 Natural gas (MMcf) 2,055 1,632 4,188 4,171 Natural gas liquids (MBbls) 270 251 485 601 Total (MBoe) 1,417 1,298 2,707 3,008 Average daily produc
Slide 10: Selected Operating Data ($/Boe)
Selected Operating Data ($/Boe) Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Average cost per Boe: Production: Lease operating $ 7.18 $ 7.94 $ 7.25 $ 7.58 Workover and other 0.54 0.42 0.49 0.62 Taxes other than income 2.06 1.15 2.25 1.47 Gathering and other, as adjusted
Slide 11: Adjusted EBITDA Reconciliation (in thousands)
Adjusted EBITDA Reconciliation (in thousands) Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Net income (loss), as reported $ (33,929) $ (127,316) $ (67,304) $ (12,825) Impact of adjusting items: Interest expense 1,838 1,842 3,334 3,556 Depletion, depreciation and accretio
Slide 12: Adjusted EBITDA Reconciliation (in thousands)
Adjusted EBITDA Reconciliation (in thousands) Three Months Three Months Three Months Three Months Ended Ended Ended Ended June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 Net income (loss), as reported $ (33,929) $ (33,375) $ (63,757) $ (153,125) Impact of adjusting items: Interest
Slide 13: Contact: Chris Lang
Contact: Chris Lang (832) 538-0551