Battalion Oil Corporation (BATL) – Among the Energy Stocks that Gained This Week

Battalion Oil Corporation (NYSEAM:BATL) is among the energy stocks that are gaining this week.

Topping our list of the Energy Stocks that Gained This Week is Battalion Oil Corporation (NYSEAM:BATL), an independent energy company focused on the acquisition, production, exploration, and development of liquids-rich assets in the Delaware Basin.

Battalion Oil Corporation (NYSEAM:BATL) skyrocketed after the recent US-Israel action in the Middle East raised serious supply concerns for the global oil and gas industry. The crisis has led to Iran placing a de facto blockade on the Strait of Hormuz, which handles around a fifth of global crude oil supply. The heightened concerns regarding a prolonged conflict in the Middle East have pushed investors towards oil producers with strong onshore US exposure, like Battalion, which are seen as less vulnerable to the aforementioned supply chain issues.

In other news, it was reported on February 25 that Battalion Oil Corporation (NYSEAM:BATL) has closed the sale of its oil and gas assets in Texas to a subsidiary of MCM Energy Partners. The transaction is valued at $60.1 million, with proceeds going towards debt repayment, reinvestment activities, general corporate purposes, and liquidity management.

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