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Mach Natural Resources (MNR) investor relations material
Mach Natural Resources Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Achieved industry-leading distribution yield of $4.87 per unit through Q3 2025, with a 17% yield since 2024, outperforming peers in total shareholder return and cash returns on capital invested.
Closed $1.3B in strategic acquisitions in the San Juan and Permian Basins, expanding operational footprint and adding ~700,000 net acres, improving the corporate decline rate to 15%.
Maintains a diversified asset base across the Mid-Continent, San Juan, and Permian Basins, with 2.8 million net acres and 12,600 gross operated wells.
Declared a quarterly cash distribution of $0.27 per unit for Q3, totaling $5.14/unit since IPO and over $1.2 billion since inception.
Business grown to $3.5 billion enterprise value, with cash return on capital invested exceeding 30% annually over five years.
Financial highlights
Q3 2025 net production averaged 94,043 Boe/d (21% oil, 56% gas, 23% NGLs).
Q3 2025 total revenues were $273 million; net loss was $36 million, impacted by a $90.4M impairment charge.
Adjusted EBITDA was $124 million; operating cash flow was $106 million.
Lease operating expense was $6.82/Boe; cash G&A was $21 million, with $13 million non-recurring ICAV deal costs.
Cash available for distribution was $46 million; Q3 distribution was $0.27/unit.
Outlook and guidance
Q4 2025 net daily production guidance: 147–155 Mboe/d; FY 2026 guidance: 150–157 Mboe/d.
2026 CapEx projected 8–18% lower without affecting production guidance; development cost guidance for FY 2026: $315–$360M.
Natural gas volumes expected to exceed 70% in 2026, with bullish outlook on gas demand due to LNG exports.
Anticipates increasing distributions in 2026 as new wells come online and acquired assets contribute for full quarters.
Maintains flexibility to adjust CapEx monthly based on commodity prices and operating cash flow.
Mancos well cost reduction strategy details
PE equity swap opportunities for leverage reduction
Deep Anadarko/Mancos drilling partner strategy
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Next Mach Natural Resources earnings date
Q4 202512 Mar, 2026
Next Mach Natural Resources earnings date
Q4 202512 Mar, 2026
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Frequently asked questions
Mach Natural Resources LP (MNR) is an independent upstream oil and gas company. Its core business focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids (NGL) reserves. The company operates primarily in the Anadarko Basin region, which spans Western Oklahoma, Southern Kansas, and the Texas Panhandle. The company is headquartered in Oklahoma City, Oklahoma, and its shares are listed on the New York Stock Exchange.
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