Mach Natural Resources LP director Christopher Burn reported open-market purchases of 2,000 Common Units. He bought 1,000 units at $14.07 on March 19, 2026 and 1,000 units at $13.85 on March 20, 2026, raising his direct holdings to 15,587 units. One reported price is a weighted average of multiple trades between $13.99 and $14.15.
MACH Natural Resources LP reported that affiliated entity Bayou City Energy Management LLC (BCEM) bought a total of 9,285 common units in open‑market transactions. Purchases occurred over three days at weighted average prices around $13.63 to $14.00 per unit.
After these transactions, 74,835,939 common units are directly held by BCE Mach Aggregator LLC and 23,978 common units by BCEM. BCE Mach Aggregator is indirectly managed by BCEM, and William W. McMullen is BCEM’s Managing Partner; the reporting persons may be deemed to beneficially own these units subject to pecuniary interest.
Mach Natural Resources reported solid fourth-quarter and full-year 2025 results and a major increase in reserves. In Q4 2025, the company generated total revenue of $388 million and net income of $73 million. For full-year 2025, revenue was $1.2 billion with net income of $143 million.
Average Q4 production was 154 Mboe/d, mostly natural gas, with lease operating expense of $7.50 per Boe and gathering and processing costs of $3.22 per Boe. Adjusted EBITDA reached $186.9 million for Q4 and $593.3 million for the year.
Total proved reserves grew 109% to 705 MMBoe at December 31, 2025, with a PV-10 of $3.1 billion. The partnership maintained distributions, paying a quarterly cash distribution of $0.53 per common unit for Q4 2025, and plans 2026 development capital of $315–$360 million with forecast production of 150–157 MBoe/d while targeting a reinvestment rate of no more than 50% of operating cash flow.
Mach Natural Resources LP is an upstream oil and gas partnership focused on the Anadarko, San Juan and Permian basins, with integrated midstream assets such as six processing plants and extensive gas and water gathering systems. The business emphasizes acquiring mature, low-decline assets to generate cash available for distribution.
For the year ended December 31, 2025, net production was 37,731 MBoe, or 103.37 MBoe per day, and oil, natural gas and NGL sales totaled $1,037.7 million, contributing to total revenues of $1,175.4 million. Proved reserves reached 704,732 MBoe with a PV-10 of $3,088 million, up sharply from 337,250 MBoe and $1,890 million a year earlier, driven largely by acquisitions of approximately $1.3 billion. Development capital spending in 2025 was about $251.9 million, and the 2026 development budget is set between $315.0 million and $360.0 million, focused on Mississippian and Mancos drilling. The partnership also recorded a $90.4 million impairment of oil and gas properties and outlines significant future development of 160,340 MBoe of proved undeveloped reserves with planned capital of $1,084.6 million through 2030.
Mach Natural Resources executive Kevin R. White reported equity compensation activity involving the company’s common units. On February 9, 2026, he acquired 11,886 common units as a grant under the 2023 Long-Term Incentive Plan. On February 11, 2026, 5,627 units were disposed of through a tax-withholding transaction to cover tax obligations from the grant. After these transactions, he directly beneficially owned 455,871 common units.
Mach Natural Resources executive Michael E. Reel reported equity compensation and related tax withholding transactions in common units. On 02/09/2026, he acquired 5,151 common units at $12.62 per unit as a grant under the 2023 Long-Term Incentive Plan. On 02/11/2026, 2,532 units were disposed of through a tax-withholding transaction at $12.62 per unit to cover withholding obligations tied to the grant. Following these transactions, he directly holds 85,816 common units.
Mach Natural Resources reported an insider ownership adjustment tied to its purchase and sale agreement with Sabinal Energy Operating, LLC. On February 9, 2026, Sabinal agreed to deliver 227,547 Common Units back to Mach as a final purchase price adjustment under the PSA.
After this transfer, Sabinal, a portfolio company of a fund managed by Kayne Anderson Capital Advisors, L.P., is shown as indirectly holding 18,960,034 Common Units of Mach Natural Resources.
Mach Natural Resources LP reported that a director received a grant of 13,587 common units on 01/01/2026 at a price of $11.04 per unit. Following this transaction, the director beneficially owns 13,587 units in a direct ownership capacity.
The filing explains that these reported securities are phantom units, with each phantom unit representing a contingent right to receive one common unit of Mach Natural Resources LP upon vesting. The phantom units will vest on the first anniversary of the grant date, provided the director continues in service through that date. The director serves on the board of Mach Natural Resources GP LLC, the general partner that manages the issuer.
Mach Natural Resources LP filed an initial insider ownership report for a reporting person who serves as a director of Mach Natural Resources GP LLC, the general partner that manages the issuer. The remarks state that the issuer is managed by the directors and executive officers of the general partner, and that no securities are beneficially owned. The Form 3 is signed by an attorney‑in‑fact under a power of attorney on behalf of the reporting person.
Mach Natural Resources LP reported changes to its board of directors. On December 15, 2025, Francis A. Keating II resigned, effective immediately, from the board of Mach Natural Resources GP LLC, the general partner of the partnership, and from the Audit Committee and Conflicts Committee. His resignation was stated as not being due to any disagreement with management or the board regarding the partnership’s operations, policies or practices.
Effective the same day, Christopher J. Burn was appointed to the board and to the Audit Committee and Conflicts Committee. Burn has recent experience as a consultant at Goshen Investments, and previously served as Chief Investment Officer of The Diana Davis Spencer Foundation and as Global Head of Macro Research at Archegos Capital Management LLC. He was determined to be an independent director under New York Stock Exchange listing standards. Under the non‑employee director compensation program, he was granted phantom units equal to $150,000, to be issued on January 1, 2026 and vest in full on January 1, 2027, subject to his continued service.