Mach Natural Resources LP ( (MNR) ) has released its Q3 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, which spans parts of Oklahoma, Kansas, and Texas. Its unique focus on this area allows it to capitalize on the rich natural resources found there.
Mach Natural Resources LP reported its third-quarter 2024 financial results, showcasing a solid operational performance. The company announced a quarterly cash distribution of $0.60 per unit and provided a positive outlook for 2025, indicating a continued focus on leveraging its financial strength and strategic operations.
Key highlights from the third quarter include a total net production average of 81.8 thousand barrels of oil equivalent per day, with a lease operating expense of $5.85 per Boe, which was at the lower end of their guidance. The company reported a net income of $67 million and an Adjusted EBITDA of $134 million. Moreover, Mach achieved a net cash flow from operating activities of $111 million and completed a public offering raising $129 million in net proceeds, primarily used for acquisitions.
For the year-to-date 2024, Mach’s production averaged 86.7 Mboe/d with lease operating expenses below guidance, and total capital expenditures of $179 million were in line with expectations. The company has distributed $247 million to unitholders, reflecting its commitment to shareholder returns.
Looking forward, Mach Natural Resources LP remains committed to maintaining a low leverage profile while continuing to deliver consistent cash distributions. The company is positioned to end 2024 on a strong note and plans to carry this momentum into 2025, focusing on strategic growth and financial stability.
