Baker Botts Represents the Underwriters in the Public Offering of Mach Natural Resources LP
Deal Description: On September 6, 2024, Mach Natural Resources LP (NYSE: MNR) (“Mach”) announced the pricing of its public offering of 7,272,728 common units representing limited partner interests. Mach has granted the underwriters an option to purchase up to an additional 1,090,909 common units from Mach at the public offering price, less underwriting discounts and commissions. The offering is expected to close on September 9, 2024, subject to customary closing conditions.
Mach expects to receive net proceeds of approximately $112.9 million, after deducting underwriting discounts and commissions and estimated offering expenses and excluding any exercise of the underwriters’ option to purchase additional common units. Mach intends to use the net proceeds to fund pending acquisitions and for general partnership purposes, which may include future acquisitions.
Mach Natural Resources LP is an independent upstream oil and gas company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas and the panhandle of Texas.
Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. are acting as joint book-running managers for the offering. Stephens Inc. and Johnson Rice & Company L.L.C. are serving as co-managers for the offering.
Baker Botts L.L.P. represented the underwriters in this offering.
Baker Botts Lawyers/Office Involved:
- Corporate: Josh Davidson (Partner; Houston); Doug Getten (Partner; Houston); Garrett Hughey (Senior Associate; Houston); Austin Lee (Associate; Houston); Cade Luedde (Associate; Houston)
- Finance: Clint Culpepper (Partner; Austin)
- Tax: Chuck Campbell (Special Counsel; Houston)
- Global Projects: Kyle Doherty (Senior Associate; Houston); Brittany Dudley (Associate; Dallas)
- Environmental: Elizabeth Singleton (Special Counsel; Houston)
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