Battalion Oil Reports Record Well Results and Increased Gas Throughput Under Previously Announced Midstream Agreement

Houston, Texas, April 15, 2026 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced record operating results.

Key Highlights

• Completed midstream projects at the Monument Draw central production facility in Ward County ahead of schedule and approximately 8% under budget
• Production throughput increased 20.3% following project completion
• Most recently drilled well pad achieved record oil and equivalent production on a per-lateral-foot basis

Management Comments

Battalion recently completed multiple midstream projects in the Monument Draw area ahead of schedule and approximately 8% under budgeted costs. In addition, the Company’s midstream partner has completed additional facility upgrades allowing for increased capacity across the entire asset area.  As a result of these changes, average gas flowrates have increased by more than 20%. Due to the increased midstream capacity, the Company has been able to increase flowrates on previously constrained wells. These wells continue to outperform type curve expectations, confirming significant inventory in the asset area. 

The most recent 20-day average production from the Company’s most recently drilled well pad has increased to 1,568 barrels of oil equivalent per day (“boepd”) per well (61% oil) from an average lateral length of 6,294 feet. This is the highest production on a per lateral foot basis in the Company's history.

“The Battalion operational teams have continued to execute at a high level in the first quarter following the recent acreage acquisition. We have prepared our surface facilities to accept and process additional production. This has resulted in increased oil sales in one of the strongest commodity markets our industry has experienced in years,” said Matt Steele, Chief Executive Officer of Battalion.  “We’ve strengthened the balance sheet and liquidity profile and are now seeing the benefits of our operational success broadly across our assets.”

Forward Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements. Forward-looking statements include, among others, statements about anticipated production, liquidity, capital spending, drilling and completion plans, and forward guidance. Forward-looking statements may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", “projects,” "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC's website at or through the Company's website at Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations.

About Battalion

Battalion Oil Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.