Mach Natural Resources falls on $117.5 mln secondary offering

Mach Natural Resources LP

07/04/2026 11:59

** Shares of Mach Natural Resources MNR.N down 7.6% before the bell at $13.08 after ~$117.5 mln secondary offering priced

** Oklahoma City-based oil and gas producer late Mon said existing investors Vepu, Simlog and Sabinal Energy parted with 9 mln units

** Offering price of $13.05 is 7.8% discount to last sale

** Affiliates of CEO Tom Ward indicated to buy up to $2 mln of offering units, per the prospectus

** Morgan Stanley sole underwriter

** MNR has ~168.2 mln units outstanding

** Through Mon, MNR shares up 28% YTD

** 7 of 9 analysts rate shares "strong buy" or "buy", 2 "hold"; median PT $19, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))