Mach Natural Resources units’ revolvers rolled into one facility of up to $1 billion

By Wendy Van Sickle

Columbus, Ohio, Nov. 21 – Mach Natural Resources LP wholly owned subsidiaries BCE-Mach LLC, BCE-Mach II LLC and BCE-Mach III, LLC’s separate revolving credit facilities with borrowing bases of $200 million, $26 million and $400 million, respectively, were replaced with a new credit facility with a maximum amount of $1 billion and an initial borrowing base of $600 million, according to an 8-K filing with the Securities and Exchange Commission.

Mach Natural Resources Holdco LLC, a wholly owned subsidiary of the parent and a direct parent of each of the three BCE-Mach subsidiaries, is the borrower.

At closing on Nov. 10, $130 million was outstanding under the credit facility, including $5 million of issued letters of credit.

The maturity date is Nov. 10, 2027, and borrowings bear interest at term SOFR plus a margin that ranges from 300 basis points to 400 bps, depending on usage. There is also a quarterly unused commitment fee.

MidFirst Bank is the administrative agent.

Mach is an independent upstream oil and gas company based in Oklahoma City.

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