Welcome to our dedicated page for Mach Natural Resources news (Ticker: MNR), a resource for investors and traders seeking the latest updates and insights on Mach Natural Resources stock.
Mach Natural Resources LP (NYSE: MNR) is an independent upstream oil and gas company committed to the acquisition, development, and production of oil, natural gas, and natural gas liquids (NGL) reserves. The company's operations are primarily focused in the Anadarko Basin region, which spans Western Oklahoma, Southern Kansas, and the Texas panhandle. This strategic location allows Mach Natural Resources to leverage rich deposits of hydrocarbon resources, ensuring sustained production and growth.
In recent developments, Mach Natural Resources LP announced its third-quarter 2023 financial results. The company reported robust net income of $94 million and an Adjusted EBITDA of $140 million. The firm achieved an average sales volume of 66,280 barrels of oil equivalent (Boe) per day, comprising 28% oil, 54% natural gas, and 18% NGLs. Notably, Mach initiated 20 gross (15 net) wells and brought online 20 gross (16 net) wells during this quarter, showcasing its ongoing commitment to expanding its operational footprint.
Mach Natural Resources is also poised for future growth through strategic acquisitions. The company recently announced the acquisition of assets from Paloma, which is expected to close by December 29, 2023. This acquisition will add approximately 75 million Boe of proved developed producing reserves and recent production of about 32,000 Boe per day. Additionally, the acquisition aligns with Mach’s goal of maximizing cash distributions to unitholders, with a first quarterly cash distribution expected to be announced in mid-February 2024 based on Q4 2023 results.
CEO Tom L. Ward emphasized the company's focus on generating strong cash flow and controlling operational costs. The firm’s proactive hedging strategy for 2024 and 2025 production further secures its financial stability and growth prospects. Mach Natural Resources' commitment to operational excellence and strategic growth continues to underscore its significance in the oil and gas sector.
Mach Natural Resources LP (NYSE: MNR) has successfully completed a significant refinancing transaction, securing a new senior secured reserve-based revolving credit facility with a syndicate of ten banks. The New Credit Facility, with Truist Bank acting as administrative and collateral agent, establishes an initial borrowing base of $750 million.
The company utilized a combination of borrowings from the New Credit Facility, proceeds from its recent public equity offering, and available cash to fully repay and terminate its existing credit agreements with Texas Capital Bank and MidFirst Bank.
Mach Natural Resources LP (NYSE: MNR) has announced its quarterly cash distribution for Q4 2024. The company will distribute $0.50 per unit to unitholders. The distribution will be paid on March 13, 2025, to unitholders of record as of the close of trading on February 27, 2025.
Mach Natural Resources LP (NYSE:MNR) announced that underwriters have fully exercised their over-allotment option to purchase an additional 1,935,483 common units at $15.50 per unit, following their previously announced public offering of 12,903,226 common units. The option closed on February 12, 2025.
The company plans to use the net proceeds to repay approximately $23.0 million of borrowings outstanding under its super priority credit facility, with the remainder allocated to partially repay its term loan credit facility. Mach expects to repay the remaining borrowings and terminate its term loan credit facility using cash on hand and proceeds from a new credit facility.
The offering is led by joint book-running managers Stifel, Raymond James, TCBI Securities, and Truist Securities, with Johnson Rice & Company and Stephens Inc. serving as co-managers.
Mach Natural Resources LP (MNR) has announced the pricing of its public offering of 12,903,226 common units at $15.50 per unit. The company has also granted underwriters an option to purchase up to an additional 1,935,483 common units.
Mach expects to receive net proceeds of approximately $192.5 million after deducting underwriting costs and expenses. The proceeds will be used to repay $23.0 million of borrowings under its super priority credit facility, with the remainder allocated to partially repay its term loan credit facility.
The offering is expected to close on February 7, 2025. Joint book-running managers include Stifel, Raymond James, TCBI Securities, and Truist Securities, with Johnson Rice & Company and Stephens Inc. serving as co-managers.
Mach Natural Resources LP (NYSE: MNR) has announced a public offering of 12,000,000 common units representing partner interests, with an additional option for underwriters to purchase up to 1,800,000 common units.
The company plans to use the net proceeds to repay approximately $23.0 million of borrowings outstanding under its super priority credit facility, with the remainder allocated to partially repay its term loan credit facility. Mach intends to clear the remaining term loan facility borrowings using cash on hand and proceeds from a new credit facility planned post-offering.
The offering's joint book-running managers include Stifel, Nicolaus & Company, Raymond James & Associates, TCBI Securities (Texas Capital Securities), and Truist Securities.
Mach Natural Resources LP (NYSE: MNR) reported Q3 2024 financial results with net income of $67 million and Adjusted EBITDA of $134 million. The company achieved average total net production of 81.8 Mboe/d, with lease operating expense of $5.85 per Boe. Total revenue reached $256 million, while capital expenditures excluding acquisitions were $53 million. The company declared a quarterly cash distribution of $0.60 per unit, payable on December 10, 2024. Mach maintained a strong financial position with a cash balance of $185 million and a pro forma net-debt-to-Adjusted-EBITDA ratio of 0.9x.
Mach Natural Resources LP (NYSE: MNR) has announced it will release its third-quarter 2024 financial results on Tuesday, November 12, 2024, after NYSE trading hours. The company will host a conference call to discuss these results on Wednesday, November 13, 2024, at 8:00 a.m. Central Time. Investors can join the call by dialing 877-407-2984 or access the webcast through the company's investor relations website. A replay of the call will be available on the company's website afterward.
Mach Natural Resources LP (NYSE: MNR) has successfully closed two previously announced acquisitions of oil and gas assets in the Anadarko Basin of Kansas and the Ardmore Basin of Oklahoma. The combined purchase price for these assets totaled $136 million, subject to customary closing adjustments. Mach funded the transactions using proceeds from its recent secondary offering and available cash on hand.
These acquisitions represent a significant expansion of Mach's asset portfolio in key oil and gas producing regions. The closing of these deals marks an important milestone in the company's growth strategy and potentially enhances its production capabilities and resource base.
Mach Natural Resources LP (NYSE: MNR) announced that underwriters of its previously announced public offering have partially exercised their option to purchase an additional 1,018,465 common units at $16.50 per unit. The option closed on September 24, 2024. Mach intends to use the net proceeds for pending acquisitions and general partnership purposes, including potential future acquisitions.
The offering is managed by Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated, and Truist Securities, Inc. as joint book-running managers, with Johnson Rice & Company L.L.C. and Stephens Inc. serving as co-managers. The securities are being offered through a prospectus meeting SEC requirements, available from the joint book-running managers.
Mach Natural Resources LP (NYSE: MNR) has announced the pricing of its public offering of 7,272,728 common units at $16.50 per unit. The company expects to raise approximately $112.9 million in net proceeds. Mach has granted underwriters an option to purchase up to an additional 1,090,909 units. The offering is set to close on September 9, 2024.
The proceeds will be used to fund two pending acquisitions of oil and gas assets in the Ardmore Basin of Oklahoma and the Anadarko Basin of Kansas and Oklahoma, as well as for general partnership purposes. Raymond James & Associates, Stifel, Nicolaus & Company, and Truist Securities are acting as joint book-running managers for the offering.
FAQ
What is the current stock price of Mach Natural Resources (MNR)?
What is the market cap of Mach Natural Resources (MNR)?
What does Mach Natural Resources LP do?
Where are Mach Natural Resources' operations located?
What were the company's third-quarter 2023 financial highlights?
What is the significance of the Paloma acquisition?
When will Mach Natural Resources announce its first quarterly cash distribution?
How many wells did Mach Natural Resources initiate and bring online in Q3 2023?
What is Mach Natural Resources' hedging strategy?
How can I access Mach Natural Resources' conference call and webcast?
What is the company's operational focus?
Who should I contact for more information about Mach Natural Resources?
