Mach Natural Resources LP, an US oil and gas production company in the Anadarko Basin, raised $190 million by offering 10 million shares at $19, the low end of the range of $19 to $21. The company plans to make quarterly distributions.
Mach Natural Resources 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. Through a series of acquisitions, the company has accumulated approximately 936,000 net acres, of which 99% is held by production, and over 2,000 identified horizontal drilling locations. The company's assets consist of approximately 4,500 gross operated proved developed producing wells, and for the twelve months ended June 30, 2023, its average net daily production was approximately 65 MBoe/d.
Mach Natural Resources LP plans to list on the NYSE under the symbol MNR. Stifel and Raymond James acted as joint bookrunners on the deal.
