The story so far
The events that changed the company's story, in plain English, each written against everything known about the company at the time. The dot shows whether it was good, bad or neutral for shareholders.
shares on issue market cap (log scale)
2025118m shares · US$1.68bn market cap
- 17 Sept
Both the Sabinal ($486.6M final: $207.3M cash + 19.19M units) and IKAV ($770.7M final: $325M cash + 30.6M units) acquisitions closed the same day, together about $1.26 billion. Mach funded the cash portion by amending its Truist credit facility - borrowing base raised by $700 million and a $450 million term loan drawn - entering the Permian Basin for the first time and roughly doubling down in the San Juan Basin.
asset acquisition disposition
118m shUS$1.68bn - 10 July
Mach agreed to two simultaneous, transformational acquisitions: Sabinal Energy's Permian Basin assets for $500 million ($200M cash + $300M in common units) - a new basin for the company - and IKAV's San Juan Basin (New Mexico/Colorado) assets for $787.2 million ($325M cash + $462.2M in units), together valued at roughly $1.29 billion, more than half paid in unregistered common units issued directly to the sellers.
capital raising announcement
118m shUS$1.71bn - 27 Feb
Mach replaced its entire December-2023 acquisition debt stack - the Texas Capital-led term loan and the MidFirst revolver - with a single new $750 million reserve-based revolving credit facility from Truist Bank (expandable to $2 billion, maturing 2029), funded in part by the just-closed equity offering. A simpler, cheaper capital structure than the deal financing that built it.
debt financing
103m shUS$1.84bn - 7 Feb
Mach closed a second follow-on unit offering, raising $192.5 million net - used to fully repay its super-priority credit facility (~$23 million) and pay down the term loan. Bayou City Energy, an affiliate of Mach's general partner, bought $5.16 million-plus units in the deal at a reduced underwriting discount, signaling continued sponsor commitment.
material agreement
103m shUS$1.84bn
202495.0m shares · US$1.84bn market cap
- 9 Sept
The offering closed, raising approximately $112.9 million net for the planned Ardmore Basin and Western Kansas acquisitions.
material agreement
95.0m shUS$1.84bn - 4 Sept
Mach Natural Resources announced a public offering of approximately 9.0 million common units (up to ~10.2 million with the underwriters' option) via a new S-1, to help fund planned acquisitions in the Ardmore Basin and Western Kansas.
capital raising announcement
95.0m shUS$1.84bn
202395.0m shares · US$1.57bn market cap
- 29 Dec
The Paloma acquisition closed for $815 million cash. Mach funded it with a new Term Loan Credit Agreement (Texas Capital Bank/Chambers Energy Management) and a new Revolving Credit Agreement (MidFirst Bank, maturing Dec. 2026), using the proceeds to repay and retire the MidFirst revolver it had just set up in November - a five-week-old bridge facility replaced by deal-specific financing.
asset acquisition disposition
95.0m shUS$1.57bn - 21 Nov
Mach Natural Resources consolidated three legacy revolving credit facilities (inherited from its pre-IPO predecessor entities) into a single new $1.0 billion revolver with MidFirst Bank, with an initial $600 million borrowing base and a 2027 maturity - its first post-IPO credit structure.
debt financing
- 13 Nov
Weeks after its October 2023 IPO, Mach Natural Resources agreed to buy ~62,000 net acres of Anadarko Basin oil and gas assets in Oklahoma from Paloma Partners IV (backed by EnCap Investments) for $815 million, with a syndicate committing an $825 million term loan to fund it.
material agreement
- 24 Oct
the exchange certified MACH NATURAL RESOURCES LP's securities for listing, clearing them to begin trading.
listing compliance notice