
Mach Natural Resources LP has reported a net income of $37 million for the fourth quarter of 2024, with revenue landing at $235 million. The company said in a media release that its net income and revenue for the full year reached $185 million and $970 million, respectively, compared to a net income of $68.5 million and revenue of $762.3 million for 2023.
Mach said it achieved an average production of 86,700 barrels of oil equivalent per day (boed) in the fourth quarter of 2024, consisting of 24 percent oil, 52 percent natural gas, and 24 percent natural gas liquids (NGL).
Revenue from oil, natural gas, and NGL sales reached $241 million, with 56 percent from oil, 24 percent from natural gas, and 20 percent from NGLs.
The company said it spud 11 gross (9 net) operated wells and brought 10 gross (8 net) wells online. As of December 31, 2024, there were 6 gross (5 net) operated wells in various stages of drilling and completion, it said.
Mach reaffirmed its operational outlook. In 2025, Mach plans to spend between $260 million and $280 million in total capital for development while maintaining its targeted reinvestment rate of no more than 50 percent of operating cash flow. The 2025 forecast for total production is expected to range from 79,000 boed to 83,000 boed, the company stated.
“Post-year-end, we closed a bolt-on acquisition, executed another successful equity offering, and improved our cost of borrowing by refinancing our term loan with a new revolving credit facility. The combined effect of these three transactions highlights our ongoing ability to generate accretion to our distribution while protecting our strong balance sheet”, Tom L. Ward, Chief Executive Officer, said. “As we progress into 2025, our four-pillar strategy will continue to guide our decisions, ensuring we are disciplined in our reinvestment and focused on returns”.
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