Derek Winfield's questions to Mach Natural Resources LP (MNR) leadership • Q4 2024
Question
Derek Winfield asked about the 2024 drilling program, specifically if the Woodford formation could become as efficient as the Oswego, and inquired about the competitive M&A landscape and organic leasing opportunities in the Mid-Continent.
Answer
CEO Tom Ward stated that the Oswego program is more mature and simpler, and he does not expect the Woodford to close the returns gap in 2025. He noted that while the Mid-Con is more competitive for large deals, Mach will stick to its niche of sub-$100 million acquisitions. He added that the leasing budget is modest as the company already holds extensive acreage.