Mach Natural Resources slides after equity offering unveiled

Mach Natural Resources LP

06/02/2025 13:30

**  Shares of Mach Natural Resources  MNR.N  down 9.2%
premarket to $15.60, a six-week low, after announcing follow-on
  
    ** Oklahoma City-based oil and gas producer late Weds 
offering of 12 mln units
  
    
      
    
  
    ** Co's PE sponsor, , indicated to buy $80 mln of the
offering, per the 
  
    ** Bayou owns ~68 mln units, about 59% of MNR, according to
LSEG data
  
    ** Co has ~103.5 mln units outstanding for ~$1.8 bln market
cap
  
    ** Stifel, Raymond James, Texas Capital Secs and Truist are
jt bookrunners for the offering
    
  
    ** MNR shares, which have fallen past four sessions, are
flat YTD through Weds
    ** Research sentiment on MNR overwhelmingly bullish with avg
rating of "strong buy" among 6 analysts and median PT of $24.50
- LSEG

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))