Mach Natural Resources LP ( (MNR) ) has released its Q4 earnings. Here is a breakdown of the information Mach Natural Resources LP presented to its investors.
Mach Natural Resources LP is an independent upstream oil and gas company that focuses 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.
Mach Natural Resources LP recently announced its financial results for the fourth quarter and full year of 2024, highlighting significant improvements in free cash flow and strategic acquisitions. The company reported a reduction in interest expenses, which is expected to enhance its financial flexibility in 2025.
In the fourth quarter of 2024, Mach achieved a total net production of 86.7 thousand barrels of oil equivalent per day, with a lease operating expense of $6.17 per barrel. The company reported a net income of $37 million and an Adjusted EBITDA of $162 million. For the full year, Mach’s net income was $185 million, with a total revenue of $970 million. The company also successfully integrated two acquisitions in key basins and completed a public offering that generated $230 million in proceeds.
Mach’s strategic initiatives included closing a bolt-on acquisition and entering a new revolving credit facility with a $750 million borrowing base. These actions reduced the company’s net-debt-to-Adjusted-EBITDA ratio and positioned it for continued growth. The company also declared a quarterly cash distribution of $0.50 per unit for the fourth quarter.
Looking ahead, Mach plans to invest between $260 million and $280 million in development capital for 2025, with a focus on maintaining a disciplined reinvestment rate. The company forecasts a total net production range of 79 to 83 MBoe/d, indicating a strategic approach to sustaining its operational and financial performance in the coming year.
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