MNR
Mach Natural Resources LP11.39
-0.32-2.73%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Debt cut before M&A hunt
Q&A zeroed in on debt reduction as priority, with plans to monetize Deep Anadarko acreage or add a partner to drop leverage from 1.3x to 1x EBITDA before resuming M&A. Management affirmed drilling Oswego oil wells late 2026 if crude stays above $70—competitive at over 50% returns—but not in current guidance. Deep Anadarko wells met type curve, Mancos beat expectations with cost savings ahead via efficiencies. Midstream profit guide rose 40% on accounting reclass. Wider gas basis pinned on weather, set to tighten. Debt first. Watch price-driven rig shifts.
Key Stats
Market Cap
1.92BP/E (TTM)
12.12Basic EPS (TTM)
0.94Dividend Yield
0.17%Recent Filings
8-K
Reserves surge 109%
Mach Natural Resources reported full-year 2025 results on March 12, 2026, boasting proved reserves up 109% to 705 MMBoe with $3.1B PV-10. Acquisitions totaling $1.3B transformed it into a multi-basin operator, driving $593M Adjusted EBITDA and $244M distributions. Reserves doubled. 2026 outlook targets 150-157 Mboe/d production on $315-360M capex, but commodity volatility looms.
10-K
FY2025 results
Mach Natural Resources crushed FY2025 with production leaping 19% y/y to 37,731 MBoe (103 MBoe/d), fueled by bolt-on buys like IKAV and Sabinal that added 372,979 MBoe reserves; Q4 momentum roared as daily output hit 103 MBoe/d amid 34.1 net wells online, though oil prices dipped 15% y/y to $63.72/Bbl crimping topline 11% to $1.04B. Margins squeezed with LOE up 46% on acquisition heft, yet DD&A fell to $7.43/Boe on reserve growth; proved reserves doubled to 705 MBoe (PV-10 $3.1B). Debt sits at $1.15B under new credit facility, revolver wide open at $295M; 2026 capex eyes $315-360M on Mississippian/Mancos. Q4 accelerated growth. Commodity volatility threatens cash flows.
8-K
Director resigns, Burn appointed
Mach Natural Resources LP saw director Francis A. Keating II resign from its board and committees on December 15, 2025, with no disagreements cited. Christopher J. Burn, ex-Chief Investment Officer at The Diana Davis Spencer Foundation, stepped in immediately as an independent director on both committees. Burn gets $150,000 in phantom units vesting January 2027. Smooth transition bolsters governance continuity.
8-K
Acquisitions boost pro forma revenue
Mach Natural Resources completed Permian Basin and San Juan acquisitions on September 16, 2025, for $1.2B total—$456M Sabinal assets and $760M IKAV companies—via $545M cash and 50M units. Pro forma nine-month revenue jumps to $1.17B, net income $100M. Borrowing base rose $700M. Units diluted 42%. Pro formas preliminary.
8-K
Q3 results, acquisitions closed
Mach Natural Resources reported Q3 2025 results on November 6, featuring 94.0 Mboe/d production, $124M Adjusted EBITDA, yet $36M net loss amid impairments. Closed Permian and San Juan Basin acquisitions on September 16, boosting scale after just two weeks' impact. Declared $0.27/unit distribution. Cut 2026 drilling capital 18% while holding production steady. Acquisitions transform footprint.
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