Oklahoma City-based Mach Natural Resources has closed on two transactions acquiring interests in oil and gas assets in the Midcontinent's Anadarko and Ardmore basins. (Source: Mach Natural Resources)
Oklahoma City-based Mach Natural Resources has closed on two transactions acquiring interests in oil and gas assets from undisclosed sellers in the Anadarko and Ardmore basins, the E&P announced Oct. 1.
Mach bought the assets for a total consideration of $136 million, financed through an offer of 7.85 million common units.
The company paid approximately $98 million for assets in the Ardmore Basin of Oklahoma, which includes 3,590 net acres and 19 operated wells, according to regulatory filings.
Filings showed Mach paid the remaining $38 million for the assets in the Anadarko Basin of Oklahoma and western Kansas, which includes 128,788 net acres and 270 operated wells.
Mach anticipates output from the acquired assets to average 5,220 boe/d (47% oil, 25% NGL, 28% gas).
The offer, announced Sept. 4, was expected to generate gross proceeds of approximately $150 million based on the $19.10 per unit closing price on Sept. 3.
The following day Mach’s unit price fell more than 12.5% to close at $16.71 on Sept. 5.
Mach announced Sept. 25 it would sell an additional 1.01 million common units at $16.50 per unit to further fund the acquisition and future deals.
Recommended Reading
RRC Orders Blackbuck's Disposal Well to Close Over Earthquake Fears
2025-06-19 - The Texas Railroad Commission had called for an emergency suspension of Blackbuck Resources’ water disposal well operations on May 13, after an earthquake with a record 5.4 magnitude struck West Texas 10 days earlier.
Segrist: Greenpeace’s Next Move After North Dakota Knock-Down
2025-04-30 - Energy Transfer won a massive lawsuit against the environmental group Greenpeace that will likely change the tactics of future protests.
PwC: Energy Sector Falling Short on Emissions Targets
2025-05-31 - PwC data show the share of energy companies on track for Scope 1 and Scope 2 targets fell to 52% in 2024 from 57% in 2023. Scope 3 saw an even bigger fall, going from 67% to 52%.
Fire at Chevron Oil Platform Offshore Angola Injures 17
2025-05-20 - Seventeen people were injured, four seriously, when a fire broke out in the early hours of May 20 at Chevron's deepwater Benguela Belize Lobito Tomboco (BBLT) oil platform.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.