MACH NATURAL RESOURCES LP Business Summary

Mach Natural Resources LP (MNR) is an independent upstream energy partnership that generates revenue through the acquisition, development, and production of oil, natural gas, and natural gas liquids (NGL) reserves. The company’s business model centers on a disciplined, acquisition-driven strategy targeting cash-flow-positive, low-decline assets, with operations divided into Upstream Exploration and Production (E&P) and Midstream segments. Its diversified portfolio spans the Anadarko, Permian, and San Juan Basins, bolstered by midstream infrastructure including four processing plants and approximately 1,210 miles of gas gathering pipelines. MNR competes with independent producers such as Chord Energy, Devon Energy, and Hess Midstream, positioning itself as a yield-focused, mid-cap operator that prioritizes sustainable cash distributions and capital discipline over aggressive volume expansion. Founded in 2017 by Tom L. Ward in partnership with Bayou City Energy (BCE), Mach Natural Resources is led by an executive team with deep unconventional resource expertise. CEO Tom L. Ward, a prominent industry figure, co-founded Chesapeake Energy and previously served as CEO of SandRidge Energy and Tapstone Energy. He is joined by CFO Kevin R. White, formerly of Petroflow Energy and SandRidge, and General Counsel Michael E. Reel. The company is governed by a board chaired by William McMullen, Founder of BCE, and includes recently appointed director Christopher Burn, a veteran investment strategist. Notable institutional backers include Kayne Anderson Capital Advisors, American Century Companies, and Goldman Sachs, supporting MNR’s strategy of consolidating mature assets in core U.S. basins.