Mach Natural Resources LP (NYSE: MNR) (“Mach” or the “Company”)
announced today that the board of directors of its general partner
declared a quarterly cash distribution for the fourth quarter of
2023 of $0.95 per common unit.
The quarterly cash distribution is payable on March 14, 2024, to
common unitholders of record as of the close of trading on February
29, 2024.
2024 Guidance
The tables below are the Company’s
operational and capital expenditures guidance for 2024.
2024
Q1
Q2
Q3
Q4
Full-Year
Net Production Guidance
Oil (MBbls/d)
20.4 – 21.7
20.0 – 21.3
20.1 – 21.4
20.1 – 21.4
20.2 – 21.5
NGLs (MBbls/d)
19.5 – 20.7
18.6 – 19.8
18.4 – 19.5
18.1 – 19.2
18.7 – 19.8
Natural Gas (MMcf/d)
271 –
287
257 –
273
249 –
265
243 –
258
255 –
271
Total (MBoe/d)
85.1 – 90.2
81.4 – 86.6
80.0 – 85.1
78.7 – 83.6
81.3 – 86.4
Full-Year 2024
Price Realizations Guidance (excluding
hedges)
Oil (differential to NYMEX WTI)
($/Bbl)
($1.50) – ($0.50)
NGLs (% of WTI)
31% - 35%
Natural Gas (differential to NYMEX Henry
Hub) ($/Mcf)
($0.36) – ($0.20)
Other Guidance Items
Lease Operating Expense ($/Boe)
$6.00 - $6.30
Gathering and Processing ($/Boe)
$3.20 - $3.40
Production Taxes (% of Oil, natural gas,
and NGL sales)
5.0% - 6.0%
Midstream Operating Profit1 ($MM)
$15 - $18
General and Administrative, excluding
equity-based compensation ($MM)
$30 - $34
Interest Expense ($MM)
$88 - $92
1 Midstream Operating Profit represents
Midstream Revenue plus Product Sales less Midstream Operating
Expense less Cost of Product Sales.
Full-Year 2024
Capital Expenditure Guidance
($MM)
Upstream (D&C and Workovers)
$230 - $245
Other (Midstream and Land)
$20 -
$30
Total
$250 - $275
2024 Derivative Contracts
The table below represents a summary of
the Company’s 2024 derivative contracts.
2024
Q1
Q2
Q3
Q4
Oil Volumes (MBbl)
1,094
1,083
712
658
Weighted Average Fixed Price (per Bbl)
$78.92
$74.10
$72.64
$73.16
Natural Gas Volumes (Bbtu)
2,393
2,248
10,653
10,158
Weighted Average Fixed Price (per
Mmbtu)
$3.10
$2.94
$2.96
$3.73
About Mach Natural Resources LP
Mach Natural Resources LP is an independent upstream oil and gas
company focused 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. For
more information, please visit www.machnr.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Exchange Act of 1934, as amended. These
statements express the Company’s opinions, expectations, beliefs,
plans, objectives, assumptions or projections regarding future
events or future results, in contrast with statements that reflect
historical facts. All statements, other than statements of
historical fact included in this release regarding our strategy,
future operations, financial position, estimated revenues and
losses, projected costs, prospects, plans and objectives of
management are forward-looking statements. When used in this
release, words such as “may,” “assume,” “forecast,” “could,”
“should,” “will,” “plan,” “believe,” “anticipate,” “intend,”
“estimate,” “expect,” “project,” “budget” and similar expressions
are used to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. Examples
of forward-looking statements include, but are not limited to, the
expectations of plans, business strategies, objectives and growth
and anticipated financial and operational performance, including
guidance regarding our strategy to develop reserves, drilling plans
and programs, estimated reserves, projected production and sales
volume, and expected benefits from acquisitions. These
forward-looking statements are based on management’s current
belief, based on currently available information as to the outcome
and timing of future events at the time such statement was made.
Such statements are subject to a number of assumptions, risk and
uncertainties, many of which are beyond the control of the Company.
These include, but are not limited to, commodity price volatility;
the impact of epidemics, outbreaks or other public health events,
and the related effects on financial markets, worldwide economic
activity and our operations; the impact of COVID-19 and
governmental measures related thereto, on global demand for oil and
natural gas and on the operations of our business; uncertainties
about our estimated oil, natural gas and natural gas liquids
reserves, including the impact of commodity price declines on the
economic producibility of such reserves, and in projecting future
rates of production; the concentration of our operations in the
Anadarko Basin; difficult and adverse conditions in the domestic
and global capital and credit markets; lack of transportation and
storage capacity as a result of oversupply, government regulations
or other factors; lack of availability of drilling and production
equipment and services; potential financial losses or earnings
reductions resulting from our commodity price risk management
program or any inability to manage our commodity risks; failure to
realize expected value creation from property acquisitions and
trades; access to capital and the timing of development
expenditures; environmental, weather, drilling and other operating
risks; regulatory changes, including potential shut-ins or
production curtailments mandated by the Railroad Commission of
Texas, the Oklahoma Corporation Commission, and/or the Kansas
Corporation Commission; competition in the oil and natural gas
industry; loss of production and leasehold rights due to mechanical
failure or depletion of wells and our inability to re-establish
their production; our ability to service our indebtedness; any
downgrades in our credit ratings that could negatively impact our
cost of and ability to access capital; cost inflation; political
and economic conditions and events in foreign oil and natural gas
producing countries, including embargoes, continued hostilities in
the Middle East and other sustained military campaigns, the armed
conflict in Ukraine and associated economic sanctions on Russia,
conditions in South America, Central America, China and Russia, and
acts of terrorism or sabotage; evolving cybersecurity risks such as
those involving unauthorized access, denial-of-service attacks,
malicious software, data privacy breaches by employees, insider or
other with authorized access, cyber or phishing-attacks,
ransomware, social engineering, physical breaches or other actions;
and risks related to our ability to expand our business, including
through the recruitment and retention of qualified personnel.
Please read the Company’s filings with the U.S. Securities and
Exchange Commission (the “SEC”), including “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in the Company’s registration statement on
Form S-1, as amended, which was originally filed with the SEC on
September 22, 2023, and in the Company’s Quarterly Report on Form
10-Q for the quarterly period ended September 30, 2023, which was
filed with the SEC on December 12, 2023, for a discussion of risks
and uncertainties that could cause actual results to differ from
those in such forward-looking statements.
As a result, these forward-looking statements are not a
guarantee of our performance, and you should not place undue
reliance on such statements. Any forward-looking statement speaks
only as of the date on which such statement is made, and the
Company undertakes no obligation to correct or update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240215077739/en/
Mach Natural Resources LP Investor Relations Contact:
ir@machnr.com
Grafico Azioni Mach Natural Resources (NYSE:MNR)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni Mach Natural Resources (NYSE:MNR)
Storico
Da Nov 2023 a Nov 2024
