Yes, a Cree XML-U2 will put out up to 1040 lm, at about 100 lm / W. A single 18650 battery will put out 3.7v and 2.4 amps in an hour, which is about how long they last in most configurations. That's about 9w. So let's not be generous and say you get about 40% efficiency, that would be 360 lumens. At 50% you get 450. etc... If you are only getting 100 lumens from one of those, you are choking off the power to the lamp. Below is straight from the Cree website.

Maximum drive current (A) 3
Maximum power (W) 10
Light output Up to 1040 lm @ 10 W