New York, September 20, 2024 - PRISM MarketView - PRISM Oil and Gas Index company Battalion Oil Corporation (BATL) has announced an amendment to is previous merger agreement with Fury Resources in which Fury has agreed to acquire all of the outstanding shares of common stock at $7 per share in cash without interest. The transaction is expected to close in Q4 2024.
Fury expects to have about $100M in cash on the balance sheet, post-transaction, net of acquisition consideration and fees.
“With this acquisition, Fury has secured a foothold in one of the world’s most prolific basins. Our team has significant experience in the region, and we believe these assets present a compelling value proposition for our investors. With a deep inventory of high return locations and consolidation opportunities in the area, we believe this asset can be scaled quickly and provide a meaningful return to our investors. We have strong institutional support for this transaction, including the Rollover Stockholders. We view their decision to stay in the investment opportunity as a strong vote of confidence in our ability to deliver results and are excited for us to get to work.
Avi Mirman, Co-Founder and Chairman of Fury Resources
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