Professional
Added to YB: 2024-02-02
Pitch date: 2024-02-02
BATL [neutral]
Battalion Oil Corporation
-81.58%
current return
Author Info
Special Situation Investments focuses on event-driven trades and low risk arbitrage opportunities with short term catalysts. Sign up for the newsletter.
Company Info
Battalion Oil Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States.
Market Cap
$18.3M
Pitch Price
$6.19
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.27
P/E
-0.38
EV/Sales
2.12
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
Quick Pitch: Battalion Oil (BATL) – Why I’m Not Involved
BATL merger arb: 43% spread but concerns over $400M financing, questionable buyer Avi Mirman (SEC charges, shifting terms), and $200M debt. Oaktree rollover confidence waned as escrow terms revised. Risk of bankruptcy if deal breaks, fair value est. $1.71-$6.30/share vs $9.80 offer. Too risky to take position.
Read full article (6 min)