Deal Description: On February 6, 2024, Mach Natural Resources LP (NYSE: MNR) (“Mach”) announced the pricing of its public offering of 12,903,226 common units representing limited partner interests. Mach has granted the underwriters an option to purchase up to an additional 1,935,483 common units from Mach at the public offering price, less underwriting discounts, and commissions.  The offering is expected to close on February 7, 2025, subject to customary closing conditions.

Mach expects to receive net proceeds of approximately $192.5 million, after deducting underwriting discounts and commissions and estimated offering expenses and excluding any exercise of the underwriters’ option to purchase additional common units. Mach intends to use the net proceeds to repay in full the approximately $23.0 million of borrowings outstanding under its super priority credit facility, and the remainder to repay a portion of its term loan credit facility. Mach expects to repay the remainder of borrowings under and terminate its term loan credit facility with cash on hand and proceeds from the credit facility it intends to enter following the consummation of the offering.

Mach Natural Resources LP is an independent upstream oil and gas company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas and the panhandle of Texas.

Stifel, Nicolaus & Company, Incorporated, Raymond James & Associates, Inc., TCBI Securities, Inc., doing business as Texas Capital Securities, and Truist Securities, Inc. are acting as joint book-running managers for the offering. Stephens Inc. and Johnson Rice & Company L.L.C. are serving as co-managers for the offering.

Baker Botts L.L.P. represented the underwriters in this offering.

Baker Botts Lawyers/Office Involved:

Corporate: Doug Getten (Partner; Houston); Josh Davidson (Senior Counsel; Houston); Parker Hinman (Senior Associate; Houston); Austin Lee (Associate; Houston); Cade Luedde (Associate; Houston)

Finance: Clint Culpepper (Partner; Austin); Morgan Copher (Associate; Dallas)

Tax: Chuck Campbell (Special Counsel; Houston)

Global Projects: Kyle Doherty (Senior Associate; Houston); Brittany Dudley (Associate; Dallas)

Environmental: Elizabeth Singleton (Special Counsel; Houston)

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.