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      "text": "Low opex helps insulate margins from commodity price volatility\nMach's cash operating costs are ~55% and ~15% lower than conventional and unconventional operators average, respectively",
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      "text": "For twelve month period ending June 30, 2023 (\"LTM\")",
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      "text": "Cash operating costs include lease operating expenses, gas processing and transportation expense, production taxes, selling, general and administrative expense, midstream (benefit) / expense, marketing (benefit) / expense, and other expenses",
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      "text": "Note: Selected company group is composed of BRY, BSM, CHRD, CIVI, CPE, CRC, CRGY, DEC, KRP, MGY, MTDR, NOG, SM, STR, TXO, and VTLE",
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      "text": "Source: Public filings",
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      "text": "Low Operating Costs Helps Insulate Margins Across the Commodity Cycle",
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