Battalion Oil Corporation
Battalion Oil Corporation Amends Merger Agreement with Fury Resources, Inc.
Summary
Battalion Oil Corporation (NYSE: BATL) announced the Seventh Amendment to its previously disclosed Agreement and Plan of Merger with Fury Resources, Inc. The amendment reduces the merger consideration to $7.00 per share in cash for the outstanding shares of Common Stock and provides for the rollover of all issued and outstanding Preferred Stock of the Company into new preferred shares of Fury Resources. The transaction is expected to close in the fourth quarter of 2024, subject to the approval of Battalion's stockholders and other customary closing conditions. Fury Resources has secured capital commitments to complete the transaction.
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About Battalion Oil Corporation
Battalion Oil Corporation is a U.S.-based energy company specializing in the exploration and production of hydrocarbon resources. Its primary function is to identify, develop, and extract crude oil and natural gas reserves, focusing predominantly on the onshore regions within the United States, particularly the Permian Basin—a region known for its significant oil and gas prospects. Battalion Oil Corporation plays a crucial role in the energy sector by contributing to the domestic supply of energy commodities, which are integral to various industries ranging from manufacturing to transportation. The company is involved in the upstream segment of the energy market, dealing with the initial stages of energy production. This involves seeking new resource deposits, drilling, and bringing oil and gas to the surface, which subsequently supply refineries and other downstream operations. Battalion Oil Corporation's activities are pivotal in supporting the energy needs of local and international markets, influencing energy prices, and impacting the overall energy independence of the United States.
Official SEC Documents
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