Mach Natural Resources LP (“Mach”) announced today the pricing
of its public offering (the “Offering”) of 12,903,226 common units
representing limited partner interests in Mach (the “common units”)
at a price to the public of $15.50 per common unit. Mach has
granted the underwriters an option to purchase up to an additional
1,935,483 common units at the public offering price, less
underwriting discounts and commissions. Mach expects to receive net
proceeds of approximately $192.5 million, after deducting
underwriting discounts and commissions and estimated offering
expenses and excluding any exercise of the underwriters’ option to
purchase additional common units. Mach intends to use the net
proceeds from the Offering to repay in full the approximately $23.0
million of borrowings outstanding under its super priority credit
facility, and the remainder to repay a portion of its term loan
credit facility. Mach expects to repay the remainder of borrowings
under and terminate its term loan credit facility with cash on hand
and proceeds from the credit facility it intends to enter into
following the consummation of the Offering. Mach’s common units
trade on the New York Stock Exchange under the ticker symbol “MNR.”
The Offering is expected to close on February 7, 2025, subject to
customary closing conditions.
Stifel, Nicolaus & Company, Incorporated, Raymond James
& Associates, Inc., TCBI Securities, Inc., doing business as
Texas Capital Securities, and Truist Securities, Inc. are acting as
joint book-running managers for the Offering. Johnson Rice &
Company L.L.C. and Stephens Inc. are serving as co-managers for the
Offering. The Offering of these securities is being made only by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended. When available, a copy of the
final prospectus may be obtained from any of the following
sources:
Stifel, Nicolaus & Company,
Incorporated
Attention: Syndicate Department
Raymond James & Associates, Inc.
Attention: Syndicate
TCBI Securities, Inc., doing business as
Texas Capital Securities
Attention: Prospectus Department
Truist Securities, Inc
Attention: Equity Capital Markets
1 South Street, 15th Floor
880 Carillon Parkway
2000 McKinney Avenue, 7th Floor
3333 Peachtree Road NE, 9th Floor
Baltimore, MD 21202
St. Petersburg, Florida 33716
Dallas, Texas 75201
Atlanta, GA 30326
Telephone: (855) 300-7136
Telephone: (800) 248-8863
Telephone: (866) 355-6329
Telephone: (800) 685-4786
Email: syndprospectus@stifel.com
Email: prospectus@raymondjames.com
Email: prospectus@texascapital.com
Email:
truistsecurities.prospectus@truist.com
Important Information
A registration statement on Form S-3 relating to these
securities has been filed with the Securities and Exchange
Commission (the “SEC”) and has become effective. The Offering may
be made only by means of a prospectus supplement and accompanying
prospectus. Copies of the preliminary prospectus supplement and
accompanying prospectus related to the Offering can be obtained by
visiting the SEC’s website at www.sec.gov under “Mach Natural
Resources LP.” This press release does not constitute an offer to
sell or the solicitation of an offer to buy securities, and shall
not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
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.
Cautionary Statement Concerning Forward-Looking
Statements
This release contains statements that express Mach’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,
including, but not limited to, statements regarding the anticipated
entry into our new credit facility, including timing, ability to
close the new credit facility, anticipated terms of the new credit
facility, and anticipated uses of the funds from the new credit
facility, the expected closing date, the size of the Offering, our
ability to complete the Offering and the amount of and the
anticipated use of the net proceeds from the Offering. 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 Mach,
including prevailing market conditions and other factors. Please
read Mach’s filings with the SEC, including “Risk Factors” in
Mach’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 Mach
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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