Mach Natural Resources LP (NYSE: MNR) (“Mach” or the “Company”)
announced today the pricing of its public offering (the “Offering”)
of 7,272,728 common units representing limited partner interests in
Mach (the “common units”) at a price to the public of $16.50 per
common unit. Mach has granted the underwriters an option to
purchase up to an additional 1,090,909 common units at the public
offering price, less underwriting discounts and commissions. Mach
intends to use the net proceeds from the Offering to fund its two
pending acquisitions of certain oil and gas assets located in the
Ardmore Basin of Oklahoma and the Anadarko Basin of Kansas and
Oklahoma, and for general partnership purposes which may include
future acquisitions. Mach’s common units trade on the New York
Stock Exchange under the ticker symbol “MNR.” The Offering is
expected to close on September 9, 2024, subject to customary
closing conditions.
Mach expects to receive net proceeds of approximately $112.9
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 to fund pending acquisitions and
for general partnership purposes, which may include future
acquisitions.
Raymond James & Associates, Inc., Stifel, Nicolaus &
Company, Incorporated 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:
Raymond James & Associates, Inc.
Attention: Syndicate
Stifel, Nicolaus & Company,
Incorporated
Attention: Syndicate Department
Truist Securities, Inc
Attention: Equity Capital Markets
880 Carillon Parkway
1 South Street, 15th Floor
3333 Peachtree Road NE, 9th Floor
St. Petersburg, Florida 33716
Baltimore, MD 21202
Atlanta, GA 30326
Telephone: (800) 248-8863
Telephone: (855) 300-7136
Telephone: (800) 685-4786
Email: prospectus@raymondjames.com
Email: syndprospectus@stifel.com
Email: truistsecurities.prospectus@truist.com
Important Information
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission (the “SEC”) on September 6, 2024. 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 prior to registration or
qualification under the securities laws of that jurisdiction.
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 Note Regarding 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 size of the
Offering and our ability to complete 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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version on businesswire.com: https://www.businesswire.com/news/home/20240906851931/en/
Mach Natural Resources LP Investor Relations Contact:
ir@machnr.com
Mach Natural Resources (NYSE:MNR)
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