Mach Natural Resources LP (NYSE: MNR) (“Mach” or the “Company”) announced 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:
