(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
Diversified, Partners to Supply Electricity to Data Centers
2025-03-10 - Diversified Energy Co., FuelCell Energy Inc. and TESIAC will create an acquisition and development company focused on delivering reliable, cost efficient net-zero power from natural gas and captured coal mine methane.
Ring May Drill—or Sell—Barnett, Devonian Assets in Eastern Permian
2025-03-07 - Ring Energy could look to drill—or sell—Barnett and Devonian horizontal locations on the eastern side of the Permian’s Central Basin Platform. Major E&Ps are testing and tinkering on Barnett well designs nearby.
US Drillers Cut Oil, Gas Rigs for First Time in Six Weeks
2025-03-07 - Baker Hughes said this week's decline puts the total rig count down 30, or 5% below this time last year.
BW Energy Announces Oil Discovery Offshore Gabon
2025-03-07 - Initial data from BW Energy’s find offshore Gabon shows potential for a new development cluster, according to BW’s CEO.
CNOOC Makes Oil, Gas Discovery in Beibu Gulf Basin
2025-03-06 - CNOOC Ltd. said test results showed the well produces 13.2 MMcf/d and 800 bbl/d.
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.