Brookfield Oaktree Holdings Reports 40.82% Stake in Battalion Oil Corp and Discloses SEC Settlement

Brookfield Oaktree Holdings, LLC and associated entities filed Amendment No. 6 to their Schedule 13D for Battalion Oil Corporation (BATL) on May 15, 2026. The filing reports a beneficial ownership of 12,437,521 shares, representing 40.82% of the company. This total includes 3,988,089 shares of Common Stock held directly by OCM HLCN and 8,446,746 shares issuable upon the conversion of various series of Preferred Stock. Notably, the amendment clarifies that Brookfield Corporation and BAM Partners Trust are no longer acting in concert with the Oaktree Parties and have ceased to be beneficial owners of more than 5% of the securities. Additionally, the filing discloses a settled proceeding with the SEC involving Oaktree Capital Management L.P. regarding historical Section 13(d) and 16(a) filing delays, resulting in a $375,000 penalty without admitting or denying findings. The reporting persons maintain shared voting and dispositive power over the reported 12.4 million shares.