Mach Resources Announces First Acquisiti …
OKLAHOMA CITY–(BUSINESS WIRE)–As previously announced, Mach Resources LLC (“Mach”) a …Read More
OKLAHOMA CITY – BCE-Mach LLC (“BCE-Mach”), a partnership between Bayou City Energy Management LLC (“BCE”) and Mach Resources LLC (“Mach”), has executed a Purchase and Sale Agreement to purchase producing properties in Alfalfa, Garfield, Grant, Kay, Major, Harper, Noble, Pawnee, Payne, Woods and Woodward Counties, Oklahoma and Barber, Comanche, Finney, Ford, Gove, Gray, Harper, Hodgeman, Ness, Reno, Scott, Sumner and Wichita Counties, Kansas from Repsol E&P USA Inc. The assets are primarily interests in wells operated by SandRidge Energy. Closing is subject to customary conditions and is expected to occur during October 2018.
“BCE-Mach’s focus has been on properties within the Mississippi Lime and these assets are complementary to our current operated position. We are excited to expand our asset base as the most active company in the play,” said Mach CEO Tom Ward. “Alongside our partners at Bayou City Energy, we are excited about the opportunity to continue to expand our position both through drilling our current inventory and strategic acquisitions of producing properties.”
“This acquisition is an excellent fit for the strategy set out for BCE-Mach,” BCE Managing Partner Will McMullen said. “We are thrilled to be continuing this partnership in earnest with another great cash-flowing asset and have the utmost confidence in the Mach team’s ability to continue maximizing value from this well understood and infrastructure-advantaged position.”