Chairman of Battalion Oil Corp., William T. Transier, has announced his intention to resign from the company’s board of directors, according to a filing.

Based in Houston, Battalion Oil is an independent E&P company formerly known as Halcón Resources, but changed its name early last year to reflect a new team and strategy. Currently, Battalion is focused on the acquisition, production, exploration and development of liquids-rich assets in the Delaware Basin of the Permian, the company’s website said.

In a filing with U.S. Securities and Exchange Commission made April 23, Transier, who has served as chairman of the Battalion board since October 2019, submitted his letter of resignation and that said he does not intend to stand for re-election at the upcoming annual meeting in June.

Additionally, Scott H. Germann also notified Battalion he plans to step down from the board of directors. Germann currently serves as chair of the compensation committee and member of the reserves and audit committees.

Battalion has begun the process of identifying suitable board candidates to fill the resulting vacancies on the board. The decision by Transier and Germann not to stand for re-election is not the result of a disagreement with Battalion or any of its subsidiaries on any matter relating to the company’s operations, policies or practices, the filing said.

Transier joined the Battalion board of directors as part of the company’s financial restructuring in 2019 after filing for Chapter 11 bankruptcy for the second time in three years. He also currently serves as chair of the nominating and corporate governance and audit committees and as a member of the compensation committee on the Battalion board.

According to the Battalion website, Transier is CEO of Transier Advisors LLC, an independent advisory firm he  founded to provide services to companies facing stressed operational situations, turnaround, restructuring or in need of interim executive leadership. He also co-founded international E&P company Endeavour International Corp.

Transier currently serves as an independent director and chairman of the board for Helix Energy Solutions Group. He has been a member of the Helix board since October 2000.

Onshore