Fifth Amendment to Registration Rights Agreement dated May 13, 2024, by and among Battalion Oil Corporation and each of the other parties thereto, as investors

Exhibit 10.2

EXECUTION VERSION

FIFTH AMENDMENT TO REGISTRATION RIGHTS AGREEMENT

This FIFTH Amendment to registration rights agreement (this “Amendment”) is made as of May 13, 2024, between Battalion Oil Corporation (formerly known as Halcón Resources Corporation), a Delaware corporation (the “Company”), and each of the parties identified on the signatures pages hereto.

RECITALS

WHEREAS, the Company and the Investors previously entered into that certain Registration Rights Agreement, dated as of October 8, 2019, as amended by (a) that certain First Amendment to the Registration Rights Agreement, dated as of March 28, 2023, (b) that certain Second Amendment to the Registration Rights Agreement, dated as of September 6, 2023, (c) that certain Third Amendment to the Registration Rights Agreement, dated as of December 15, 2023, and (d) that certain Fourth Amendment to the Registration Rights Agreement, dated as of March 27, 2024, each by and between the parties hereto (as may be further amended from time to time, the “Agreement”);

WHEREAS, the Parties to the Agreement desire to further amend the Agreement as set forth in this Amendment;

WHEREAS, pursuant to Section 10 of the Agreement, any provision of the Agreement may be amended only by a written instrument signed by the Company and the Required Holders;

WHEREAS, the parties identified on the signature pages hereto represent the Required Holders; and

WHEREAS, capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings given to such terms in the Agreement.

AGREEMENT

NOW, THEREFORE, the parties hereby agree as follows:

“Registrable Securities” means (i) any shares of Common Stock, whether now owned or hereafter acquired by the Investors (including shares of Common Stock issued pursuant to the Plan), (ii) the shares of Common Stock issued or issuable upon conversion or redemption of the Series A Preferred Stock now owned or hereafter acquired by the Investors in accordance with the terms of the Certificate of Designations, (iii) the shares of Common Stock issued or issuable upon conversion or redemption of the Series A-1 Preferred Stock now owned or hereafter acquired by the Investors in accordance with the terms of the Series A-1 Certificate of Designations, (iv) the shares of Common Stock issued or issuable upon conversion or redemption of the Series A-2 Preferred Stock now owned or hereafter acquired by the Investors in accordance with the terms of the Series A-2 Certificate of Designations, (v) the shares of Common Stock issued or issuable upon

conversion or redemption of the Series A-3 Preferred Stock now owned or hereafter acquired by the Investors in accordance with the terms of the Series A-3 Certificate of Designations, (vi) the shares of Common Stock issued or issuable upon conversion or redemption of the Series A-4 Preferred Stock now owned or hereafter acquired by the Investors in accordance with the terms of the Series A-4 Certificate of Designations, and (vii) any shares of capital stock of the Company issued or issuable with respect to the Common Stock described in clauses (i)-(vi), as a result of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise; provided, that any Registrable Securities beneficially owned by an Investor shall cease to be Registrable Securities to the extent such securities may be sold pursuant to Rule 144 (or any similar provisions in force) without volume or manner of sale limitations.

“Series A-4 Certificate of Designations” means the certificate of designations setting forth the terms of the Series A-4 Preferred Stock.

“Series A-4 Preferred Stock” means the Series A-4 Redeemable Convertible Preferred Stock of the Company, par value $0.0001 per share, and having the rights and obligations specified in the Certificate of Designations, effective as of May 13, 2024.

[Signature pages follow]

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IN WITNESS WHEREOF, the parties to this Amendment have executed this Amendment as of the date first written above.

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