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Mach Natural Resources LP - MNR STOCK NEWS

Welcome to our dedicated page for Mach Natural Resources LP news (Ticker: MNR), a resource for investors and traders seeking the latest updates and insights on Mach Natural Resources LP 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.

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Mach Natural Resources LP (NYSE: MNR) has made its 2023 Schedule K-3 available online. The form, which includes items of international tax relevance, is accessible via www.taxpackagesupport.com/mnr. It is particularly useful for foreign unitholders, those needing to compute a foreign tax credit, and some corporate and partnership unitholders. Mach will not mail the Schedule K-3 to investors. Instead, unitholders can obtain an electronic copy by calling 833-609-4029 for support during business hours.

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Mach Natural Resources (NYSE: MNR) released its Q1 2024 financial results, reporting a net income of $42 million and an adjusted EBITDA of $169 million. Revenue totaled $239 million with an average realized oil price of $77.17 per barrel. The company produced 89 thousand barrels of oil equivalent per day, including 20.6 thousand barrels of oil per day.

Operating cash flow was $144 million, and lease operating expenses were $5.03 per Boe. Mach declared a quarterly cash distribution of $0.75 per unit, payable on June 10, 2024. Capital expenditures amounted to $80 million for the quarter. The company reiterated its 2024 guidance and highlighted its low leverage with a net-debt-to-EBITDA ratio of 0.9x.

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Mach Natural Resources LP (NYSE: MNR) will release its first quarter 2024 results on May 13, 2024, followed by a conference call on May 14, 2024, to discuss its financial and operating performance. The earnings release will be available on their website, and participants can access the call via dial-in or webcast link.

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Mach Natural Resources LP (NYSE: MNR) reported financial results for 2023, including revenue of $762 million and net income of $347 million. The company reaffirmed its 2024 guidance, focusing on maximizing distributions and maintaining low leverage. Mach's proved reserves as of December 31, 2023, include 345,650 MBoe. The company plans to spend $250-275 million in total capital in 2024.
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Mach Natural Resources LP (MNR) will host a conference call to discuss its full-year 2023 financial results and 2024 guidance on April 1, 2024.
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Mach Natural Resources LP (MNR) has released its tax packages for the year ended Dec. 31, 2023, for common unitholders. The packages are available online and will be mailed starting March 20, 2024. Unitholders can call for support on weekdays.
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Mach Natural Resources LP (NYSE: MNR) declared a quarterly cash distribution of $0.95 per common unit for Q4 2023. The 2024 guidance includes Net Production, Price Realizations, Operating Expenses, Capital Expenditure, and Derivative Contracts. The company projects steady production levels and provides detailed financial outlook for the upcoming year.
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Mach Natural Resources LP (NYSE: MNR) closed the acquisition of oil and gas properties in Oklahoma from Paloma Partners IV, LLC. The $825 million term loan credit agreement funded the purchase, with a $75 million revolving credit facility. Advisors included Kirkland & Ellis, Vinson & Elkins, RBC Richardson Barr, and Latham & Watkins.
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Mach Natural Resources LP (NYSE: MNR) reported financial and operating results for the three and nine months ended September 30, 2023, including an IPO, acquisition updates, financial and operational highlights, and future guidance.
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Mach Natural Resources LP (NYSE: MNR) will release its third quarter 2023 results on December 6, 2023, and host a conference call on December 7, 2023, to discuss the results.
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FAQ

What does Mach Natural Resources LP do?

Mach Natural Resources LP is an independent upstream oil and gas company focused on the acquisition, development, and production of oil, natural gas, and NGL reserves in the Anadarko Basin region.

Where are Mach Natural Resources' operations located?

Mach Natural Resources' operations are primarily located in the Anadarko Basin region, which includes Western Oklahoma, Southern Kansas, and the panhandle of Texas.

What were the company's third-quarter 2023 financial highlights?

For the third quarter of 2023, Mach Natural Resources reported a net income of $94 million and an Adjusted EBITDA of $140 million, with an average sales volume of 66,280 Boe per day.

What is the significance of the Paloma acquisition?

The acquisition from Paloma, expected to close on December 29, 2023, will add approximately 75 million Boe of proved developed producing reserves and align with Mach's goal to maximize cash distributions to unitholders.

When will Mach Natural Resources announce its first quarterly cash distribution?

The first quarterly cash distribution is expected to be announced in mid-February 2024, based on the results from the fourth quarter of 2023.

How many wells did Mach Natural Resources initiate and bring online in Q3 2023?

In the third quarter of 2023, Mach initiated 20 gross (15 net) wells and brought online 20 gross (16 net) wells.

What is Mach Natural Resources' hedging strategy?

Mach has been actively adding to its existing hedges with the expectation that 2024 and 2025 PDP oil and natural gas production will be 50% and 25% hedged, respectively, by the closing of the Paloma acquisition.

How can I access Mach Natural Resources' conference call and webcast?

You can access the conference call by dialing 877-407-2984 and find the webcast link on the company's website at ir.machnr.com. A replay will also be available on the website following the call.

What is the company's operational focus?

Mach Natural Resources focuses on generating strong cash flow from production volumes and controlling costs across all areas of its business.

Who should I contact for more information about Mach Natural Resources?

For further information, you can contact Mach Natural Resources' Investor Relations at ir@machresources.com.

Mach Natural Resources LP

NYSE:MNR

MNR Rankings

MNR Stock Data

1.86B
95.00M
15.68%
78.14%
0.16%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
OKLAHOMA CITY