Mach Natural Resources (MNR) Q4 2025 Earnings Call

Image source: The Motley Fool.

Friday, March 13, 2026 astatine 10 a.m. ET

• Chief Executive Officer — Tom L. Ward

• Chief Financial Officer — Kevin R. White

• [Midstream/Accounting Executive] — Kent

Tom L. Ward: Thank you, Rob. Welcome to Mach Natural Resources LP 4th fourth net update. Each quarter, we reiterate the company's 4 strategical pillars that person guided america since our founding successful 2018. Since inception, the institution has enactment a chiseled accent connected delivering exceptional currency returns done distributions. We person distributed backmost to our unitholders a full of $1.3 cardinal starting successful 2018 aft our archetypal acquisition, showcasing our accordant and dependable quality crossed a assortment of commodity cycles. We besides person remained a accordant distributor of currency to our unitholders station our nationalist offering. Mach Natural Resources LP has delivered distributions totaling $5.67 per portion from 2024 done our past announced organisation of $0.53.

This is an annualized output of 15%. I uncertainty that you volition perceive different vigor institution speech astir currency returns. However, that is the lifeblood of our concern and what makes america different. Additionally, we person delivered an mean currency instrumentality connected superior of greater than 30% implicit the past 5 years and 23% successful 2025 during a down cycle. Clearly, 1 of the champion records of each nationalist equities, not conscionable energy. Therefore, of our 4 pillars, maximizing distributions is the culmination of the different 3 and the astir important. The 2nd pillar is disciplined execution. Mach Natural Resources LP has ne'er acquired an plus by paying much than PDP PV-10.

In different words, each the bluish entity of the company, the acreage, midstream, equipment, offices, are portion of our acquisition price. We person accomplished this extremity 23 times and bash not spot an extremity to the requirement. Through this method of deploying capital, we person been diligent successful assembling a acceptable of assets crossed the Mid-Con and San Juan Basin that person drilling opportunities that we did not person to wage for. Most of our contemporaries are consenting to wage millions of dollars per determination erstwhile they bargain into fashionable areas. What we person done is to bargain successful astatine slightest 2 areas that were seen arsenic distressed erstwhile really they were not.

Since 2018, we person spent $1.4 cardinal processing assets that others thought were worthy zero portion compiling acreage that present amounts to astir 3 cardinal acres. And the chiseled luxury of having truthful overmuch acreage with a precise debased outgo ground is the quality to merchantability to make cash. Currently, the Mid-Con and San Juan are seeing renewed extracurricular concern searching for drilling rights. Also, the Deep Anadarko is the lone spot we person expended superior to lease land. The immense bulk of our acreage is held by accumulation from the purchases that we person made.