Mach Natural Prices 7.27 Mln Public Offering At $16.50/unit

(RTTNews) - Mach Natural Resources LP (MNR) announced on Friday that it has priced the public offering of 7.27 million common units at $16.50 each.

Mach Natural has given underwriters the option to buy up to 1.09 million more units.

The company anticipates raising about $112.9 million in net proceeds and may be used to finance two upcoming acquisitions of oil and gas assets located in the Ardmore Basin of Oklahoma and the Anadarko Basin of Kansas and Oklahoma, along with other general partnership expenses.

Raymond James & Associates, Stifel, Nicolaus & Company, and Truist Securities are serving as joint book-running managers for this offering, which is scheduled to close on September 9, 2024.