Mach Natural Resources rises on $815 mln deal for Paloma's Anadarko assets

Mach Natural Resources LP

13/11/2023 16:47

** Shares of Mach Natural Resources  MNR.N  rise 2.43% to
$17.92
    ** Co says it will buy certain oil and gas assets in the
Anadarko Basin in Oklahoma from privately held Paloma Partners
for $815 mln in cash
    ** Co says assets have reserves of about 31.5 million
barrels of oil equivalent
    ** Assets cover about 62,000 net acres in the Anadarko Basin
    ** Co expects acquisition to close on Dec. 29, with a
retrospective effective date of Sept. 1
    ** Plans to fund the purchase price with new debt financing
    ** Stock has lost ~2.2% since the co's initial price
offering in October

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))