The following is a summary of the Mach Natural Resources LP (MNR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Mach Natural Resources reported an average production of 89,000 BOE per day, which was primarily composed of oil (23%), natural gas (55%), and NGLs (22%).

• They realized average prices of $77.17 per barrel of oil, $2.35 per Mcf of gas, and $26.92 per barrel of NGLs.

• Total revenues, inclusive of hedges and midstream activities, were estimated at $239 million, along with an adjusted EBITDA of $169 million.

Business Progress:

• Mach Natural Resources is focusing on maximizing cash distribution, making accretive acquisitions, maintaining low leverage, and reinvesting less than 50% of operating cashflow.

• Despite the slight decrease in oil production due to a winter storm, drilling results have met expectations and efficiency gains are being observed.

• The company plans to continue looking for acquisition opportunities and holds a bullish outlook on the long-term demand for natural gas.

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