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SCHEDULE 13D/A Filed 2026-04-06 Event 2026-04-02 Intent: PASSIVE SEC 0001104659-26-040053 →

LUMINUS MANAGEMENT LLC → BATTALION OIL CORP BATL

Stake: 43.40% Shares: 14,132,184 CUSIP: 07134L107 Class: Common Stock
Composite Decision Signal · PASS (LOW BASE-RATE EDGE) Conviction Score: 14/100 · Filer 90d Win Rate: 0% · Hist. 90d Edge: -55.8%
  • Filer track record (3 filings): 0% 90d win rate, -55.8% 90d edge
  • High conviction ownership stake (43.4%)
AI Analyst Brief conf: high
Luminus is unwinding a 6-year-old illiquid certificate structure by distributing 5.2M BATL shares in-kind to feeder funds and affiliates — this is a fund liquidation/cleanup event, not a new activist push, though the 43.4% stake and +125% short interest spike warrant watching for forced selling pressure.

Item 4 — Purpose of Transaction

As previously disclosed, on March 24, 2026, the Master Fund effected a distribution in kind of 5,200,000 shares (the "Shares") of common stock of the Issuer in the aggregate to: (i) its two feeder funds, Luminus Energy Partners QP, LP, a Delaware limited partnership ("LEP Onshore"), which received 2,117,138 Shares, and LEP Offshore (through LILP, an intermediary entity which received 2,641,190 Shares); and (ii) two affiliates that have economic interests in the Master Fund, namely LCP Onshore, which received 391,694 Shares, and LCP Offshore, which received 91,930 Shares. Each of the Funds had issued illiquid certificates to their respective investors on April 1, 2020. In connection with the distribution in kind, the Manager planned to distribute 5,200,000 shares of common stock. As Certificate Holders entitled to receive 1,145,542 shares of common stock (the "Segregated Shares") in the aggregate did not either (i) respond or provide the requisite information to the Fund's administrator and the Manager to receive the Segregated Shares, (ii) were unable to accept delivery of the Segregated Shares or (iii) chose not to participate in the distribution (such Certificate Holders being referred to as the "Non Returners"), the Master Fund continues to hold the Segregated Shares and retains both voting and disposition power over the Segregated Shares. The Master Fund, however, has no economic interest in the Segregated Shares as the Master Fund is holding the Segregated Shares for the benefit of the Non Returners. On April 2, 2026, the Master Fund distributed 379,559 shares of common stock to certain Non Returners who provided their information. The Master Fund can, in its discretion, sell the remaining Segregated Shares on behalf of the Non Returners and/or make one or more distribution in kind of the remaining Segregated Shares to the Non Returners who provide their requisite information.

Cross-References

Insider Activity (last 365d)
1 transaction
0 buys · 0 sales · 0 awards/exercises
Issuer Cluster
19 13D/G filings on this issuer
18 other filings besides this one
Filer Track Record
12 filings by this filer
11 other filings in the data moat
Short Interest · settle 2026-10-15
DTC 1.94
4,276,701 shares short · -10.6% vs prior

Post-Filing Returns · since 2026-04-02 on BATL

+1 day
+0.7%
+5 days
-0.5%
+30 days
-57.7%
+60 days
-57.7%
+90 days
-57.7%
+180 days
-75.5%

Anchor price 4.21 on closest trading day on/after 2026-04-02. Source: Yahoo Finance daily adj_close (split + dividend adjusted).

Form 4 Insider Transactions · last 365d

DateInsiderRoleTypeSharesPriceValue
2026-04-02 LUMINUS MANAGEMENT LLC director, 10%+ owner J 379,559 — —

Other 13D/G Filings on BATTALION OIL CORP

FiledFormFilerStakeShares
2026-08-17 SCHEDULE 13D/A Brookfield Oaktree Holdings, LLC — 12,797,151 view →
2026-08-07 SCHEDULE 13D/A Gen IV Investment Opportunities, LLC 14.14% 3,494,258 view →
2026-05-22 SCHEDULE 13D/A LUMINUS MANAGEMENT LLC 39.30% 13,574,690 view →
2026-05-15 SCHEDULE 13D/A Brookfield Oaktree Holdings, LLC 40.82% 12,437,521 view →
2026-04-01 SCHEDULE 13D/A LUMINUS MANAGEMENT LLC 44.60% 14,511,743 view →
2026-01-27 SCHEDULE Diveroli Investment Group LLC — — view →
2024-05-15 SC LUMINUS MANAGEMENT LLC — — view →
2024-05-15 SC Gen IV Investment Opportunities, LLC — — view →
2024-05-15 SC Brookfield Oaktree Holdings, LLC — — view →
2019-10-22 SC LUMINUS MANAGEMENT LLC — — view →
2019-08-19 SC ARES MANAGEMENT LLC — — view →
2019-04-18 SC FIR TREE CAPITAL MANAGEMENT LP — — view →
2019-04-05 SC ARES MANAGEMENT LLC — — view →
2019-02-04 SC FIR TREE CAPITAL MANAGEMENT LP — — view →
2018-04-03 SC FRANKLIN RESOURCES INC — — view →
2018-02-15 SC FRANKLIN RESOURCES INC — — view →
2018-01-24 SC FRANKLIN RESOURCES INC — — view →
2018-01-05 SC FRANKLIN RESOURCES INC — — view →

Other Filings by LUMINUS MANAGEMENT LLC

FiledFormIssuerStakeShares
2026-05-22 SCHEDULE 13D/A BATTALION OIL CORP BATL 39.30% 13,574,690 view →
2026-04-01 SCHEDULE 13D/A BATTALION OIL CORP BATL 44.60% 14,511,743 view →
2024-05-15 SC BATTALION OIL CORP BATL — — view →
2020-09-15 SC Valaris plc VAL-WT — — view →
2020-09-01 SC Valaris plc VAL-WT — — view →
2020-08-26 SC Valaris plc VAL-WT — — view →
2020-08-24 SC Valaris plc VAL-WT — — view →
2020-08-14 SC Valaris plc VAL-WT — — view →
2020-01-29 SC Valaris plc VAL-WT — — view →
2020-01-27 SC Valaris plc VAL-WT — — view →
2019-10-22 SC HALCON RESOURCES CORP BATL — — view →

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