BATL - Battalion Oil: Waiting For The Second Deposit From Fury Resources
2024-02-04 06:50:36 ET
Summary
- Fury Resources was unable to make its second deposit of $10 million by the January 23 deadline.
- It is now required to deposit $15 million by February 5.
- Failure to do so may result in either the deal falling apart or another extension.
- Battalion's recent wells have performed well, with early production above type curve.
At this point, I am skeptical that Fury Resources' acquisition of Battalion Oil ( BATL ) will end up going through. Fury made a $10 million deposit in December 2023 and was required to make a second $10 million deposit by January 23, 2024. It was unable to make this second deposit in time and has now received an extension until February 5, 2024 to make an increased deposit of $15 million....
Battalion Oil: Waiting For The Second Deposit From Fury Resources