Halcón Resources Corp. is kicking off the New Year by changing its name on Jan. 27 to Battalion Oil Corp.

According to a company press release, the name reflects its new team, culture and strategy after roughly a year of upheaval including the exit of its founder, Floyd Wilson, as well as several other prominent members of its executive team.

“The Battalion team is the result of a successful integration of new and legacy employees now united with a common goal,” CEO Richard Little said in a statement. “With a healthy balance sheet and a clear strategy, we are prepared for the pursuit of value creation and opportunistic growth from a position of strength.”

Last October, Halcón completed its second bankruptcy in three years. Prior to entering bankruptcy, trading of the company’s stock on the New York Stock Exchange had been suspended due to “abnormally low” trading price levels.

In his statement, Little, former top exec of Permian Basin-focused Ajax Resources who joined Halcón in June 2019, explained the meaning behind Battalion signifies an organized group of people pursuing a common objective and sharing a major undertaking.

“This is representative of our operating philosophy, which includes an organized and disciplined approach to investing consistently in high quality and high economic return projects as well as a focus on strategic M&A opportunities,” he said. “Our results-oriented philosophy extends to all aspects of the organization, from daily operations to capital allocation.”

On Jan. 27, the company said it had submitted an application for listing on the NYSE American under the new name and expects to be listed within the next several weeks.

Currently, Battalion is focused on the acquisition, production, exploration and development of liquids-rich assets in the Delaware Basin of the Permian, according to the company website.

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