In This Story
Mach Natural Resources LP representing Limited Partner Interests (MNR-1.58%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing total revenues of $969.6 million for the year, a 27% increase from $762.3 million in 2023. This increase was primarily driven by a 72% rise in production volumes.
Oil, natural gas, and NGL sales accounted for $936.8 million of total revenues, with oil sales contributing $555.7 million. Average realized prices for oil were $75.27 per barrel, a slight decrease from the previous year.
Operating expenses totaled $678.6 million, up 68% from the prior year, largely due to increased gathering and processing expenses, which rose by 169% to $106.2 million.
The company reported a net income of $185.2 million for 2024, compared to $346.6 million in 2023. The decline in net income is attributed to higher operating expenses and increased interest expenses.
Mach Natural Resources LP completed acquisitions in the Ardmore Basin and Western Kansas in 2024, contributing to the increase in production volumes and operating expenses.
The company's total assets as of December 31, 2024, were $2.34 billion, with oil and natural gas properties valued at $1.90 billion.
Mach Natural Resources LP's debt under the Term Loan Credit Agreement was $763.1 million at year-end 2024, with a remaining availability of $70.0 million under its credit agreements.
The filing outlines the company's strategy to focus on the acquisition, development, and production of oil, natural gas, and NGL reserves in the Anadarko Basin region.
Mach Natural Resources LP's partnership agreement mandates the distribution of all available cash each quarter, impacting the company's ability to retain earnings for growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Mach Natural Resources LP representing Limited Partner Interests annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.