# EDGAR Filing Document

**Accession Number:** 0001282648
**File Stem:** 0001558370-23-000403
**Filing Date:** 2023-1
**Character Count:** 12429
**Document Hash:** 2a54bc59479893a4384dd7022ba126b9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001558370-23-000403.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001558370-23-000403

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230120

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BATTALION OIL CORP
- **CENTRAL INDEX KEY:** 0001282648
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **IRS NUMBER:** 200700684
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35467
- **FILM NUMBER:** 23541799

**BUSINESS ADDRESS:**
- **STREET 1:** 3505 WEST SAM HOUSTON PARKWAY NORTH
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77043
- **BUSINESS PHONE:** 832-538-0300

**MAIL ADDRESS:**
- **STREET 1:** 3505 WEST SAM HOUSTON PARKWAY NORTH
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77043

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HALCON RESOURCES CORP
- **DATE OF NAME CHANGE:** 20120209

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RAM ENERGY RESOURCES INC
- **DATE OF NAME CHANGE:** 20060518

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TREMISIS ENERGY ACQUISITION CORP
- **DATE OF NAME CHANGE:** 20040304

?xml version='1.0' encoding='UTF-8'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **January 20, 2023**

**Battalion Oil Corporation**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-35467** | **20-0700684** |
| (State or other jurisdiction<br>of incorporation) | (Commission File Number) | (IRS Employer<br>Identification No.) |

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| | |
|:---|:---|
| **3505 West Sam Houston Parkway NorthSuite 300**<br>**Houston, Texas** | **77043** |
| (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code: **(832) 538-0300**

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock par value $0.0001 | BATL | NYSE American |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 5.02**  | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

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*Departure of Executive Vice President, Chief Financial Officer and Treasurer and Appointment of Executive Vice President, Chief Financial Officer and Treasurer*

On January 20, 2023, the board of directors (the "***Board***") of Battalion Oil Corporation (the "***Company***") appointed Kristen McWatters to serve as Executive Vice President, Chief Financial Officer and Treasurer of the Company, effective as of January 26, 2023, replacing R. Kevin Andrews. Mr. Andrews has agreed to continue with the Company in an advisory role through April 13, 2023. Mr. Andrews has confirmed that his departure is not the result of any disagreement with the Company on any matter relating to how the Company has operated, its policies or its practices, including its controls or financial related matters.

Ms. McWatters has had a successful career in the energy industry, serving in progressive roles in leadership in accounting, finance and financial reporting. She most recently served as Interim Chief Accounting Officer for a publicly traded investment banking firm where she was responsible for all of the company's accounting and reporting functions. She previously served as Senior Vice President, Chief Financial Officer and Chief Accounting Officer for Goodrich Petroleum where she successfully led and managed the financial requirements of the company through completion of a sell-side transaction. Prior to joining Goodrich Petroleum, Ms. McWatters was the Controller for a publicly traded independent retail energy services company and a manager of financial reporting for Southwestern Energy Co. Ms. McWatters began her career at KPMG LLP after earning a Masters in Finance and a Bachelor of Business Administration in Accounting from Texas A&M University in May 2008. Ms. McWatters is a certified public accountant.

In connection with the appointment of Ms. McWatters as the Company's Chief Financial Officer, the Company has agreed to the following compensation terms with Ms. McWatters which includes, among other things: (i) an annual base salary of $300,000; (ii) eligibility to earn a target annual bonus under the Company's annual incentive plan equal to 100% of base salary; (iii) in the event of a "*Change of Control Event*" (as defined in the Battalion Oil Corporation 2020 Long-Term Incentive Plan, as amended (the "***Plan***")), the bonus will be paid at 100% of target; (iv) an equity award in the amount of 10,000 base restricted stock units and 20,000 M&A restricted stock units, granted as further described below; and (v) other benefits customarily provided to similarly situated executives of the Company.

The base restricted stock units will vest on the earliest of the following to occur: (a) the first anniversary date of the grant; (b) the completion of a qualifying transaction (as defined in the award agreement); or (c) a "*Change of Control Event*" (as defined in the Plan). The M&A restricted stock units will vest upon the earlier of the following to occur: (a) the completion of a qualifying transaction (as defined in the award agreement); or (b) a "*Change of Control Event*" (as defined in the Plan). The restricted stock units will be subject to the terms and conditions of the Plan and the award agreements under which the restricted stock units are granted.

There are no related party transactions involving Ms. McWatters that are reportable under Item 404(a) of Regulation S-K. There are no family relationships between Ms. McWatters and any other directors or executive officers of the Company.

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| | |
|:---|:---|
| **Item 7.01**  | **Regulation FD Disclosure** |

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On January 20, 2023, the Company issued a press release announcing the appointment of Ms. McWatters as the Company's Chief Financial Officer. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Exhibit 99.1 shall not be deemed to be "*filed*" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

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| | |
|:---|:---|
| **Item 9.01**  | **Financial Statements and Exhibits** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Exhibits.

The following exhibits are furnished as part of this Current Report on Form 8-K:

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press release issued by Battalion Oil Corporation dated January 20, 2023](batl-20230120xex99d1.htm). |
| &nbsp;&nbsp;104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | BATTALION OIL CORPORATION | BATTALION OIL CORPORATION |
| January 20, 2023 | By: | /s/ Richard H. Little |
|  | Name: | Richard H. Little |
|  | Title: | Chief Executive Officer |

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## Exhibit 99.1

**Exhibit 99.1**

![Text Description automatically generated](batl-20230120xex99d1001.jpg)

**Battalion Announces Appointment of New Chief Financial Officer and Appointment of General Counsel**

HOUSTON, TEXAS – January 20, 2023 – Battalion Oil Corporation (NYSEA: BATL, "Battalion" or the "Company") today announced the appointment of Kristen McWatters as Executive Vice President, Chief Financial Officer and Treasurer of the Company effective January 26, 2023, replacing Kevin Andrews, who plans to pursue other opportunities. Mr. Andrews will continue with the Company in an advisory role through the end of the first quarter.

Rich Little, Battalion's Chief Executive Officer commented, "Kristen brings to Battalion a strong public accounting experience along with hands on experience in M&A, forecasting and capital management. I am pleased to welcome Kristen to the team and will leverage her experience as we continue to create value in the Delaware Basin."

Ms. McWatters has had a successful career in the energy industry, serving in progressive roles in leadership in accounting, finance and financial reporting. She most recently served as Interim Chief Accounting Officer for a publicly traded investment banking firm where she was responsible for all of the company's accounting and reporting functions. She previously served as Senior Vice President, Chief Financial Officer and Chief Accounting Officer for Goodrich Petroleum where she successfully led and managed the financial requirements of the company through completion of a sell-side transaction. Prior to joining Goodrich Petroleum, Ms. McWatters was the Controller for a publicly traded independent retail energy services company and a manager of financial reporting for Southwestern Energy Co. Ms. McWatters began her career at KPMG LLP after earning a Masters in Finance and a Bachelor of Business Administration in Accounting from Texas A&M University in May 2008. Ms. McWatters is a certified public accountant.

Mr. Little commented further, "We are excited to add Kristen to our team and integrate her quickly into our business. We are happy to have the opportunity for a coordinated transition with Kevin and will take advantage of having both of these leaders on the team during this period. We want to thank Kevin for his time at Battalion and we wish him well in all of his future endeavors."

The Company also announced the appointment of Walter Mayer to Senior Vice President and General Counsel. Mr. Mayer previously served as Vice President, Legal for the Company. Mr. Little commented, "We are pleased to recognize Walter's contributions and accomplishments at the company and value him as a key member of the leadership team."

**About Battalion**

Battalion Oil Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.

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**Contact**<br>Chris Lang <br>Director, Finance & Investor Relations <br>(832) 538-0551

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