Mach Natural Resources to buy Anadarko Basin assets for $815 mln

Mach Natural Resources LP

13/11/2023 14:07

Nov 13 (Reuters) - Mach Natural Resources  MNR.N  said
on Monday said it will buy certain oil and gas assets in the
Anadarko Basin in Oklahoma from privately-held Paloma Partners
for $815 million in cash.
    Mach Natural said the assets have reserves of 31.5 million
barrels of oil equivalent (mmboe) and will boost its existing
output of about 65,000 barrels of oil equivalent per day (boepd)
 by roughly 32,000 boepd.
    The assets cover about 62,000 net acres in the Anadarko
Basin, one of the most productive U.S. basins and which spans
parts of Oklahoma, Kansas, Texas, and Colorado
    The deal is expected to close on Dec. 29 this year, with a
retrospective effective date of Sept. 1.
    Houston-based Paloma Partners is backed by energy
sector-focused EnCap Investments and is focused on the
acquisition and development of U.S. oil and gas assets.

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Savio
D'Souza)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))