Mach Natural Resources sold Western Anadarko acreage for $38 million, the company said in second-quarter earnings. (Source: Shutterstock.com/ Mach Natural Resources)
Midcontinent MLP Mach Natural Resources divested interests in the Western Anadarko for $38 million in proceeds, the company reported in second-quarter earnings Aug. 13.
Oklahoma City-based Mach sold certain acreage not attributable to the company’s proved developed reserves on June 26, regulatory filings show.
Mach was launched in 2018 by Tom Ward, who previously formed Chesapeake Energy, SandRidge Energy and Tapstone Energy. Mach is backed by capital partner Bayou City Energy.
The MLP listed its shares on the New York Stock Exchange in October 2023. Weeks later, Mach inked an $815 cash acquisition of Midcontinent assets from Paloma Partners IV LLC.
The Paloma acquisition added approximately 62,000 net acres spanning across Canadian, Grady, McClain, Caddo, Custer, Dewey, Blaine and Kingfisher counties, Oklahoma.
Mach’s net production averaged 89,300 boe/d in the second quarter, up from 89,000 boe/d in the first quarter.
In late July, SandRidge Energy announced a $144 million cash acquisition of Cherokee assets in the Western Anadarko.
RELATED
Tom Ward: Mach Looks to Other Basins as Midcon Competition Heats Up
Recommended Reading
The OGInterview: BPX E-fracs Push ‘Values Up, Emissions Down,’ CEO Says
2024-07-02 - BPX Energy CEO Kyle Koontz discusses the company’s role as the “nimble entrepreneurial” arm of supermajor BP in the Permian Basin and Haynesville and Eagle Ford shales.
Chevron Pushing Longer Laterals in Argentina’s Vaca Muerta Shale
2024-09-13 - Chevron Corp., already drilling nearly 2.8-mile laterals at its Loma Campana Field in Argentina, wants to drill even longer horizontals, an executive told Hart Energy.
Goodbye Manual Control: Vital Energy’s Automation Program Boosts Production
2024-07-12 - Production, ESP efficiency soared when the company automated decisions with AI at the edge.
E&P Highlights: July 15, 2024
2024-07-15 - Here’s a roundup of the latest E&P headlines, including Freeport LNG’s restart after Hurricane Beryl and ADNOC’s deployment of AI-powered tech at its offshore fields.
EOG Resources Wildcatting Pearsall in Western Eagle Ford Stepout
2024-07-17 - EOG Resources spud the well June 25 in Burns Ranch with rights to the Pearsall well about 4,000 ft below the Eagle Ford, according to myriad sources.
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.