(Source: Shutterstock.com)
Midcontinent E&P Mach Natural Resources LP announced that the underwriters of its public offering of 7.27 million common units have partially exercised their option to purchase an additional 1.01 million common units at $16.50 per unit.
Mach, an MLP, said the net proceeds will fund pending acquisitions or be allocated toward general partnership purposes, which may include future acquisitions.
Mach previously announced on Sept. 4 an offer of 7.85 million common units to finance two pending acquisitions in the Midcontinent, representing approximately $136 million, according to regulatory filings.
Raymond James & Associates, Inc., Stifel, Nicolaus & Co., Incorporated and Truist Securities, Inc. are acting as joint book-running managers for the offering.
Johnson Rice & Co. LLC and Stephens Inc. are serving as co-managers for the offering.
Recommended Reading
Afterthought to Asset: How Data has Transformed Oil, Gas Decision-Making
2024-12-05 - Digital data points have transformed from a byproduct of operations to the main driver of innovation in the energy industry, says Fabricio Sousa, president of Worley Consulting.
Novel EOR Process Could Save Shale from a Dry Future
2024-12-17 - Shale Ingenuity’s SuperEOR, which has been field tested with positive results, looks to remedy the problem of production declines.
Pioneer Energy’s Tech Offers More Pad Throughput, Fewer Emissions
2025-01-14 - Pioneer Energy’s Emission Control Treater technology reduces emissions and can boost a well’s crude yield by 5% to10%, executives say.
Permanent Magnets Emerge as a Game-Changer for ESP Technology
2024-12-19 - In 2024, permanent magnet motors installations have ballooned to 11% of electric submersible pump installations, and that number is growing.
BYOP (Bring Your Own Power): The Great AI Race for Electrons
2025-01-06 - Data-center developers, scrambling to secure 24/7 power, are calling on U.S. producers to meet demand as natgas offers the quickest way to get more electrons into the taps.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.