Battalion Oil Corporation
Battalion Oil Corp Enters Into Second Amended and Restated Senior Secured Credit Agreement
Summary
On December 26, 2024, Battalion Oil Corp's subsidiary, Halcón Holdings, LLC, entered into a Second Amended and Restated Senior Secured Credit Agreement with Fortress Credit Corp. as the administrative agent and certain lenders. This agreement amends and restates the existing credit agreement, refinancing the previous obligations and establishing new credit facilities. The new agreement provides for an initial term loan of $162 million and an incremental term loan of up to $63 million, subject to certain conditions. The agreement also includes financial covenants and events of default, and is secured by a lien on the assets of the borrower and its subsidiaries.
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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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