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Mach Natural Resources LP Priced, NYSE: MNR

US oil and gas production company in the Anadarko Basin.

Industry: Energy

Latest Trade: $15.35 -0.28 (-1.8%)

First Day Return: -3.5%

Return from IPO: -17.8%

Industry: Energy

We are 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. Our experienced management team, led by industry veteran Tom L. Ward, possesses deep operational and industry experience, particularly in Oklahoma and the Anadarko Basin. We leverage our extensive experience to identify the most attractive exploitation and development opportunities and optimize the production of current wells, efficiently drill our existing inventory of undeveloped locations and identify attractive low-risk acquisition opportunities. Our partnership agreement requires us to distribute all of our cash on hand at the end of each quarter, less reserves established by our general partner, which we refer to as “available cash.” We believe the lower decline nature of our Legacy Producing Assets (as defined below) and large inventory of horizontal drilling locations with average royalty burdens of less than 25%, coupled with our lower cash operating costs and owned midstream infrastructure, will support our ability to make cash distributions to our unitholders. We expect to maintain a conservative capital structure with the long-term goal of remaining substantially debt free.
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IPO Data
IPO File Date 09/22/2023
Offer Price $19.00
Price Range $19.00 - $21.00
Offer Shares (mm) 10.0
Deal Size ($mm) $190
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 10/24/2023
Offer Price $19.00
Price Range $19.00 - $21.00
Offer Shares (mm) 10.0
Deal Size ($mm) $190
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Stifel
Raymond James
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Company Data
Headquarters Oklahoma City, OK, United States
Founded 2017
Employees at IPO 399
Website www.machresources.com

Mach Natural Resources LP (MNR) Performance