10:51 AM EST, 12/20/2024 (MT Newswires) -- Battalion Oil ( BATL ) shares were down over 38% in recent trading Friday after the company terminated its agreement and plan of merger with Fury Resources.

Fury did not meet obligations under the merger agreement, failed to provide evidence of additional equity financing or timely close the deal, according to Battalion Oil ( BATL ).

Battalion also said it canceled a special meeting of shareholders scheduled for Dec. 27.

Fury Resources did not immediately respond to MT Newswires' request for comment.

Price: 1.49, Change: -0.95, Percent Change: -38.81