Mach Natural Resources LP recently announced the successful closing of a senior secured reserve-based revolving credit facility with a syndicate of ten banks, including Truist Bank as administrative agent and collateral agent. The New Credit Facility has an initial borrowing base of $750 million.
Mach used borrowings under the New Credit Facility—along with proceeds from the Company’s recent public equity offering and cash on hand—to repay in full the amounts outstanding under and terminate both the existing term loan credit agreement with Texas Capital Bank as administrative and collateral agent and Chambers Energy Management, LP, as the loan commitment arranger, as well as the existing senior secured revolving credit agreement with MidFirst Bank as the administrative agent.
Mach Natural Resources LP is an independent upstream oil and gas Company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas and the panhandle of Texas