Learn more about Hart Energy Conferences
Get our latest conference schedules, updates and insights straight to your inbox.
Halcón Resources Corp. is kicking off the New Year by changing its name on Jan. 27 to Battalion Oil Corp.
According to a company press release, the name reflects its new team, culture and strategy after roughly a year of upheaval including the exit of its founder, Floyd Wilson, as well as several other prominent members of its executive team.
“The Battalion team is the result of a successful integration of new and legacy employees now united with a common goal,” CEO Richard Little said in a statement. “With a healthy balance sheet and a clear strategy, we are prepared for the pursuit of value creation and opportunistic growth from a position of strength.”
Last October, Halcón completed its second bankruptcy in three years. Prior to entering bankruptcy, trading of the company’s stock on the New York Stock Exchange had been suspended due to “abnormally low” trading price levels.
In his statement, Little, former top exec of Permian Basin-focused Ajax Resources who joined Halcón in June 2019, explained the meaning behind Battalion signifies an organized group of people pursuing a common objective and sharing a major undertaking.
“This is representative of our operating philosophy, which includes an organized and disciplined approach to investing consistently in high quality and high economic return projects as well as a focus on strategic M&A opportunities,” he said. “Our results-oriented philosophy extends to all aspects of the organization, from daily operations to capital allocation.”
On Jan. 27, the company said it had submitted an application for listing on the NYSE American under the new name and expects to be listed within the next several weeks.
Currently, Battalion is focused on the acquisition, production, exploration and development of liquids-rich assets in the Delaware Basin of the Permian, according to the company website.
Recommended Reading
Beach Town Corpus Christi Grows into America’s Top Energy Port
2024-01-16 - The Port of Corpus Christi is the U.S.’ largest energy export gateway and in terms of total revenue tonnage as increased midstream investments have opened export markets for the prolific Permian Basin.
ONGC’s M Field Starts Production in Bay of Bengal
2024-01-09 - ONGC’s M Field represents the second phase of the larger 98/2 Block development project which is expected to reach peak production of 45,000 bbl/d and 10 MMcm/d.
US Drillers Cut Oil, Gas Rigs for Second Week in a Row
2024-01-12 - The oil and gas rig count, an early indicator of future output, fell by two to 619 in the week to Jan. 12, the lowest since November.
Range Resources Expecting Production Increase in 4Q Production Results
2024-02-08 - Range Resources reports settlement gains from 2020 North Louisiana asset sale.
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.