Mach Natural Resources LP Announces Closing of Two Acquisitions
02 October 2024 - 6:05AM
Business Wire
Mach Natural Resources LP (NYSE: MNR) (“Mach” or the “Company”)
today announced the closing of its previously announced
acquisitions of certain interests in oil and gas properties, rights
and related assets in the Anadarko Basin of Kansas and the Ardmore
Basin of Oklahoma (the “Acquired Assets”).
On a combined basis, the Acquired Assets were purchased for a
total consideration of $136 million, subject to customary terms and
conditions, including various closing price adjustments. The
Company funded the transactions with a combination of proceeds from
Mach’s recent secondary offering and cash on hand.
About Mach Natural Resources LP
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 of
Western Oklahoma, Southern Kansas and the panhandle of Texas. For
more information, please visit www.machnr.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains statements that express the Company’s
opinions, expectations, beliefs, plans, objectives, assumptions or
projections regarding future events or future results, in contrast
with statements that reflect historical facts. All statements,
other than statements of historical fact included in this release
regarding our strategy, future operations, financial position,
estimated revenues and losses, projected costs, prospects, plans
and objectives of management are forward-looking statements When
used in this release, words such as “may,” “assume,” “forecast,”
“could,” “should,” “will,” “plan,” “believe,” “anticipate,”
“intend,” “estimate,” “expect,” “project,” “budget” and similar
expressions are used to identify forward-looking statements,
although not all forward-looking statements contain such
identifying words. These forward-looking statements are based on
management’s current belief, based on currently available
information as to the outcome and timing of future events at the
time such statement was made. Such statements are subject to a
number of assumptions, risk and uncertainties, many of which are
beyond the control of the Company. These include, but are not
limited to, commodity price volatility; the impact of epidemics,
outbreaks or other public health events, and the related effects on
financial markets, worldwide economic activity and our operations;
uncertainties about our estimated oil, natural gas and natural gas
liquids reserves, including the impact of commodity price declines
on the economic producibility of such reserves, and in projecting
future rates of production; the concentration of our operations in
the Anadarko Basin; difficult and adverse conditions in the
domestic and global capital and credit markets; lack of
transportation and storage capacity as a result of oversupply,
government regulations or other factors; lack of availability of
drilling and production equipment and services; potential financial
losses or earnings reductions resulting from our commodity price
risk management program or any inability to manage our commodity
risks; failure to realize expected value creation from property
acquisitions and trades; access to capital and the timing of
development expenditures; environmental, weather, drilling and
other operating risks; regulatory changes, including potential
shut-ins or production curtailments mandated by the Railroad
Commission of Texas, the Oklahoma Corporation Commission and/or the
Kansas Corporation Commission; competition in the oil and natural
gas industry; loss of production and leasehold rights due to
mechanical failure or depletion of wells and our inability to
re-establish their production; our ability to service our
indebtedness; any downgrades in our credit ratings that could
negatively impact our cost of and ability to access capital; cost
inflation; political and economic conditions and events in foreign
oil and natural gas producing countries, including embargoes,
continued hostilities in the Middle East and other sustained
military campaigns, the war in Ukraine and associated economic
sanctions on Russia, conditions in South America, Central America,
China and Russia, and acts of terrorism or sabotage; evolving
cybersecurity risks such as those involving unauthorized access,
denial-of-service attacks, malicious software, data privacy
breaches by employees, insider or other with authorized access,
cyber or phishing-attacks, ransomware, social engineering, physical
breaches or other actions; and risks related to our ability to
expand our business, including through the recruitment and
retention of qualified personnel. Please read the Company’s filings
with the U.S. Securities and Exchange Commission (the “SEC”),
including “Risk Factors” in the Company’s Annual Report on Form
10-K, which is on file with the SEC, for a discussion of risks and
uncertainties that could cause actual results to differ from those
in such forward-looking statements.
As a result, these forward-looking statements are not a
guarantee of our performance, and you should not place undue
reliance on such statements. Any forward-looking statement speaks
only as of the date on which such statement is made, and the
Company undertakes no obligation to correct or update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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Mach Natural Resources LP Investor Relations Contact:
ir@machnr.com
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