Battalion Oil Corporation announced it has closed an agreement with a group of lenders for a new first lien delayed draw term loan facility (the ?Term Loan?) for up to $235 million bearing interest of LIBOR plus 7.00% on drawn amounts. Initial borrowings of $200 million will allow Battalion to repay all outstanding loans and obligations under the Company?s previous senior revolving credit facility and add significant cash to the balance sheet after fees and expenses. The Company will have approximately $35 million of additional capacity under the Term Loan which will be available for future development of the Company?s Monument Draw asset. Macquarie Group served as sole lead arranger for the Term Loan, and is serving as a lender, letter of credit provider, and a hedge counterparty for the Company.