Battalion Oil Corp (NYSE American: BATL), a Houston-based crude petroleum and natural gas company, has entered into a material definitive agreement amending its existing credit facility, according to an 8-K filing with the Securities and Exchange Commission on Wednesday. The amendment, effective as of August 23, 2024, modifies the company's credit agreement to allow for a Current Ratio of "0.90 to 1.00" for the fiscal quarter ending September 30, 2024.
The credit agreement amendment comes as Battalion Oil continues to navigate its financial and operational strategy. The company, which has undergone several name changes in its history, including Halcon Resources Corp and RAM Energy Resources Inc, is incorporated in Delaware and has its executive offices in Houston, Texas.
Battalion Oil's announcement is an important development for investors and stakeholders, signaling potential changes in the company's capital structure and strategic direction. The 8-K filing underscores the company's efforts to adjust its financial framework in anticipation of future business opportunities and challenges.
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