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Earnings Call Summary | Mach Natural Resources(MNR.US) Q1 2024 Earnings Conference

moomoo AI ·  May 14 16:14  · Conference Call

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.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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