Battalion Oil CORP

Battalion Oil Corp's subsidiary Halcón Holdings entered into a new secured credit agreement providing an immediate $162.5 million term loan and an uncommitted discretionary $175 million delayed draw facility, refinancing the existing credit line. The loan matures December 31, 2029, and carries a fixed interest margin of 6.50% over SOFR (or base rate plus 5.50%), replacing a variable leverage-based grid that ranged from 7.75% to 8.50%. The obligations are guaranteed by subsidiaries and secured by substantially all assets, with mandatory prepayment and amortization schedules starting in mid-2027.

Battalion Oil Corporation dismissed Deloitte & Touche as its independent auditor and appointed BDO USA as its new auditor. The Audit Committee approved the change after a competitive selection process. The company reported no disagreements or reportable events with Deloitte, and Deloitte’s audit opinions for fiscal 2024 and 2025 were unqualified.