Mach Natural Resources Shifts Drilling Emphasis Toward Crude-Heavy Projects

Mach Natural Resources LP reported second-quarter production of 149,000 barrels of oil equivalent per day and generated $154 million in operating cash flow. The company declared a quarterly distribution of $0.36 per unit after generating $60 million in cash available for distribution.

Chief Executive Officer Tom Ward said the company's strategy remains centered on disciplined asset purchases, restrained capital spending, financial strength, and maximizing cash distributions. He noted that Mach intends to bring leverage back to its goal of roughly one times debt to EBITDA by the end of 2027.

Mach has shifted its near-term drilling emphasis toward crude-heavy projects following the start of the conflict in Iran. The company is targeting oil-weighted opportunities and has three rigs operating in Oklahoma, with the Ardmore Basin locations expected to be completed by the end of the third quarter.