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.
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