Mach Natural Resources LP Declares Fourth Quarter 2023 Cash Distribution and Provides 2024 Guidance
The quarterly cash distribution is payable on
2024 Guidance |
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The tables below are the Company’s operational and capital expenditures guidance for 2024. |
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2024 |
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Q1 |
Q2 |
Q3 |
Q4 |
Full-Year |
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Net Production Guidance |
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Oil (MBbls/d) |
20.4 – 21.7 |
|
20.0 – 21.3 |
|
20.1 – 21.4 |
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20.1 – 21.4 |
|
20.2 – 21.5 |
|
NGLs (MBbls/d) |
19.5 – 20.7 |
|
18.6 – 19.8 |
|
18.4 – 19.5 |
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18.1 – 19.2 |
|
18.7 – 19.8 |
|
Natural Gas (MMcf/d) |
271 – 287 |
|
257 – 273 |
|
249 – 265 |
|
243 – 258 |
|
255 – 271 |
|
Total (MBoe/d) |
85.1 – 90.2 |
|
81.4 – 86.6 |
|
80.0 – 85.1 |
|
78.7 – 83.6 |
|
81.3 – 86.4 |
|
Full-Year 2024 |
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Price Realizations Guidance (excluding hedges) |
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Oil (differential to NYMEX WTI) ($/Bbl) |
( |
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NGLs (% of WTI) |
31% - 35% |
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Natural Gas (differential to NYMEX Henry Hub) ($/Mcf) |
( |
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Other Guidance Items |
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Lease Operating Expense ($/Boe) |
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Gathering and Processing ($/Boe) |
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Production Taxes (% of Oil, natural gas, and NGL sales) |
5.0% - 6.0% |
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Midstream Operating Profit1 ($MM) |
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General and Administrative, excluding equity-based compensation ($MM) |
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Interest Expense ($MM) |
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1 Midstream Operating Profit represents Midstream Revenue plus Product Sales less Midstream Operating Expense less Cost of Product Sales. |
Full-Year 2024 |
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Capital Expenditure Guidance ($MM) |
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Upstream (D&C and Workovers) |
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Other (Midstream and Land) |
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Total |
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2024 Derivative Contracts |
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The table below represents a summary of the Company’s 2024 derivative contracts. |
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2024 |
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Q1 |
Q2 |
Q3 |
Q4 |
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Oil Volumes (MBbl) |
1,094 |
|
1,083 |
|
712 |
|
658 |
|
Weighted Average Fixed Price (per Bbl) |
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Natural Gas Volumes (Bbtu) |
2,393 |
|
2,248 |
|
10,653 |
|
10,158 |
|
Weighted Average Fixed Price (per Mmbtu) |
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About
Cautionary Note Regarding Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. These statements express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. All statements, other than statements of historical fact included in this release regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this release, words such as “may,” “assume,” “forecast,” “could,” “should,” “will,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “budget” and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Examples of forward-looking statements include, but are not limited to, the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including guidance regarding our strategy to develop reserves, drilling plans and programs, estimated reserves, projected production and sales volume, and expected benefits from acquisitions. These forward-looking statements are based on management’s current belief, based on currently available information as to the outcome and timing of future events at the time such statement was made. Such statements are subject to a number of assumptions, risk and uncertainties, many of which are beyond the control of the Company. These include, but are not limited to, commodity price volatility; the impact of epidemics, outbreaks or other public health events, and the related effects on financial markets, worldwide economic activity and our operations; the impact of COVID-19 and governmental measures related thereto, on global demand for oil and natural gas and on the operations of our business; uncertainties about our estimated oil, natural gas and natural gas liquids reserves, including the impact of commodity price declines on the economic producibility of such reserves, and in projecting future rates of production; the concentration of our operations in the
As a result, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240215077739/en/
Investor Relations Contact: ir@machnr.com
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