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Mach Natural Resources LP Reports First Quarter 2026 Results; Declares Quarterly Cash Distribution of $0.64 Per Common Unit

MNR
  • Mach Natural Resources LP reported financial results for the three months ended March 31, 2026, with average net production of 158,000 barrels of oil equivalent per day.
  • The company recorded a net loss of $35 million but reported Adjusted EBITDA of $195 million for the first quarter.
  • Total revenue was $286 million, driven by average realized prices of $69.73 per barrel of oil, $2.74 per Mcf of natural gas, $23.75 per barrel of NGLs.
  • Lease operating expenses totaled $101 million, or $7.12 per Boe, while gathering and processing expenses were $59 million, or $4.18 per Boe.
  • The company generated $170 million in net cash provided by operating activities.
  • Total development costs were $75 million, including $67 million in upstream capital, resulting in a reinvestment rate of 41%.
  • Mach announced a quarterly cash distribution of $0.64 per common unit, payable on June 4, 2026, to unitholders of record as of May 21, 2026.
  • Recent operational highlights include spudding the first operated Mancos Shale well in the San Juan Basin.
  • The company paused drilling in the Deep Anadarko basin to redirect capital to higher-return, oil-weighted projects in the Mid-Continent, including the May 2026 restart of the Oswego drilling program.
  • As of March 31, 2026, Mach had a cash balance of $53 million, $695 million utilized on its $1.0 billion revolving credit facility, leaving $358 million in available liquidity.
  • The board of directors confirmed a shift toward oil-focused drilling to maximize distributions while maintaining a disciplined capital allocation approach.