Battalion Oil is set to issue 485,000 shares of its common stock to acquire 7,090 net acres of oil and gas assets in Texas.
Battalion Oil Corp. (BATL), on Tuesday, announced the acquisition of 7,090 net acres of oil and gas assets in Ward County, Texas, from RoadRunner Resource in an all-stock deal.
Battalion will issue 485,000 shares of its common stock to complete the acquisition. The two companies had previously partnered on the acreage under a joint venture agreement.
The newly acquired area adjoins the company’s existing Monument Draw position, expanding its overall footprint in the region. The deal is expected to add about 30 new drilling locations targeting the Wolfcamp A, Wolfcamp B, and 3rd Bone Spring formations.
BATL shares were down more than 5%, tracking the broader oil market. Contracts for West Texas Intermediate (WTI) crude, expiring in May 2026, were down over 10% at $82 per barrel at the time of writing.
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