Mach Natural Resources Stock Price, News & Analysis

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.

Mach Natural Resources LP (NYSE: MNR) has announced the launch of a public offering of 7,853,403 common units, with an additional option for underwriters to purchase up to 1,178,010 units. The company plans to use the net proceeds 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, with Johnson Rice & Company and Stephens Inc. serving as co-managers.

Mach Natural Resources LP (NYSE: MNR) reported its Q2 2024 results, highlighting strong operational performance and financial discipline. The company exceeded production guidance with 89.3 Mboe/d total net production and achieved below-guidance lease operating expenses of $5.72 per Boe. Mach reported net income of $40 million and Adjusted EBITDA of $136 million.

The company declared a quarterly cash distribution of $0.90 per unit, demonstrating its commitment to rewarding unitholders. Mach also divested a portion of Western Anadarko acreage for $38 million and made its first quarterly term loan amortization payment of $21 million. The company updated its 2024 guidance, reducing capital expenditure midpoint by 15% due to a rig count reduction, while improving operational efficiencies.