Mach Natural Resources LP(MNR) - 2025 Q3 - Quarterly Results

Financial Performance - Mach reported total revenue of $273 million and net losses of $36 million for Q3 2025[6]. - Adjusted EBITDA for Q3 2025 was reported at $124 million[20]. Production and Pricing - Average net production was 94.0 thousand barrels of oil equivalent per day, consisting of 21% oil, 56% natural gas, and 23% NGLs[8]. - The average realized price was $64.79 per barrel of oil, $2.54 per Mcf of natural gas, and $21.78 per barrel of NGLs[6]. - Mach achieved a combined initial production rate in excess of 100 million cubic feet of natural gas per day from its first five wells in the Mancos Shale[5]. Capital Expenditures and Costs - Mach incurred total development costs of $59 million, including $53 million of upstream capital[11]. - The 2026 drilling and completion capital program was reduced by 18%, or $63 million, while maintaining prior production guidance[13]. Cash and Debt Position - As of September 30, 2025, Mach had a cash balance of $54 million and remaining availability under the Revolving Credit Facility of $295 million[7]. - The pro forma net-debt-to-Adjusted-EBITDA ratio was 1.3x as of September 30, 2025[7]. Distributions - The company declared a quarterly cash distribution of $0.27 per common unit, payable on December 4, 2025[12].