{ "docId": "019de518-5414-778b-8731-1ff17355fbf6", "docSlug": "2298c6b783fc7c75b99be65238e0365b", "documentTitle": "Mach Natural Resources | IPO Presentation Deck | 35 slides", "authorId": "mach-natural-resources", "authorName": "Mach Natural Resources", "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "investment_bank", "sourceTypeLabel": "Investment bank", "presentationDate": "2024-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 2, "pageCount": 35, "prevPage": 1, "nextPage": 3, "slideType": "disclaimer", "function": "appendix", "density": "dense", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de518-5414-778b-8731-1ff17355fbf6/2", "deckHref": "/decks/019de518-5414-778b-8731-1ff17355fbf6", "deckJsonHref": "/decks/019de518-5414-778b-8731-1ff17355fbf6.json", "deckAnchorHref": "/decks/019de518-5414-778b-8731-1ff17355fbf6#slide-2", "components": [ { "bbox": { "h": 0.80417, "w": 0.93917, "x": 0.03083, "y": 0.125 }, "kind": "disclaimer", "text": "We have filed a registration statement on Form S-1 (including a preliminary prospectus) with the SEC for the offering to which this presentation relates. Before you invest, you should read the preliminary prospectus in that registration statement and other documents we have filed with the SEC for more complete information about Mach Natural Resources, L.P. and any of its successors, subsidiaries or affiliates (collectively, the \"Company\", \"Partnership\", \"Mach\" or \"us\") and this offering. You may get these documents for free by visiting the SEC website at http://www.sec.gov.\nThis presentation shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these secunties in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The inclusion of any website addresses in this presentation is for reference only, and such websites are not incorporated by reference into this presentation. No persons have been authorized to make any representations regarding the information contained in this presentation, and if given or made, such representations should not be considered as authorized. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information herein, including the forward-looking statements described below, has been prepared by the Company solely for use in this presentation, has not been independently verified and should be considered in the context of the circumstances prevailing at the time of its preparation. Management is under no obligation to update the information contained herein to reflect material developments which may occur after the date of the presentation. None of Stifel, Nicolaus & Company, Incorporated, Raymond James & Associates, Inc. or any other manager, their respective subsidiaries, affiliates or associated companies, the Company or any subsidiary or affiliate, their respective advisers, connected persons or any other person, accepts any liability for any loss howsoever arising, directly or indirectly, from the information contained in this presentation, Stifel, Nicolaus & Company, Incorporated, Raymond James & Associates, Inc. and any other underwriter in connection with any securities are acting for the Company and no one else and will not be responsible to any other person for providing the protections afforded to its clients, or for providing advice in relation to this presentation. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes.\nThis presentation contains unaudited financial information, which presents certain financial information and operating data of BCE-Mach LLC, a Delaware limited liability company, BCE-Mach II LLC, a Delaware limited liability company, and BCE-Mach III LLC, a Delaware limited liability company, on a combined basis. The production, reserve, acreage, well count, drilling locations, and other historical and forward-looking data in this presentation are presented on a combined basis unless otherwise indicated.\nThis presentation contains statements that express the Company's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. All statements, other than statements of historical fact included in this presentation regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this presentation, words such as \"may,\" \"assume,\" \"forecast,\" \"could,\" \"should,\" \"will,\" \"plan,\" \"believe,\" \"anticipate,\" \"intend,\" \"estimate,\" \"expect,\" \"project,\" \"budget\" and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events at the time such statement was made. Such statements are subject to a number of assumptions, risk and uncertainties, many of which are beyond the control of the Company. These include, but are not limited to, commodity price volatility; the impact of epidemics, outbreaks or other public health events, and the related effects on financial markets, worldwide economic activity and our operations; the impact of COVID-19, and govemmental measures related thereto, on global demand for oil and natural gas and on the operations of our business; uncertainties about our estimated oil, natural gas and natural gas liquids reserves, including the impact of commodity price declines on the economic producibility of such reserves, and in projecting future rates of production; the concentration of our operations in the Anadarko Basin; difficult and adverse conditions in the domestic and global capital and credit markets; lack of transportation and storage capacity as a result of oversupply, govemment regulations or other factors; lack of availability of drilling and production equipment and services; potential financial losses or earnings reductions resulting from our commodity price risk management program or any inability to manage our commodity risks; failure to realize expected value creation from property acquisitions and trades; access to capital and the timing of development expenditures; environmental, weather, drilling and other operating risks; regulatory changes, including potential shut-ins or production curtailments mandated by the Railroad Commission of Texas; competition in the oil and natural gas industry; loss of production and leasehold rights due to mechanical failure or depletion of wells and our inability to re-establish their production; our ability to service our indebtedness; any downgrades in our credit ratings that could negatively impact our cost of and ability to access capital; cost inflation; political and economic conditions and events in foreign oil and natural gas producing countries, including embargoes, continued hostilities in the Middle East and other sustained military campaigns, the armed conflict in Ukraine and associated economic sanctions on Russia, conditions in South America, Central America, China and Russia, and acts of terrorism or sabotage; evolving cybersecurity risks such as those involving unauthorized access, denial-of-service attacks, malicious software, data privacy breaches by employees, insider or other with authorized access, cyber or phishing-attacks, ransomware, social engineering, physical breaches or other actions; and risks related to our ability to expand our business, including through the recruitment and retention of qualified personnel.\nAs a result, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward looking statement, whether as a result of new information, future events or otherwise.\nReferences to the Company's estimated proved and probable reserves as of June 30, 2023 are derived from the Company's reserve reports prepared by Cawley Gillespie & Associates, Inc. (\"CGA\"), the Company's independent petroleum engineers. In addition, 665 of the Company's estimated horizontal drilling locations as of June 30, 2023 were prepared internally and are not based on reserve reports prepared by CGA (the \"Internal Reserve Estimates\"). Reserve engineering is a process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reservoir engineers. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. If significant, such revisions would change the schedule of any further production and development drilling. Accordingly, our reserve and PV-10 estimates may differ significantly from the quantities of oil, natural gas and NGLs that are ultimately recovered. You should not assume that the present values referred to in this presentation represent the actual current market value of our oil, natural gas and NGL reserves.\nThis presentation includes market data and other statistical information from third party sources, including independent industry publications, government publications or other published independent sources. Although we believe these third party sources are reliable as of their respective dates, we have not independently verified the accuracy or completeness of this information. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, which could cause our results to differ materially from those expressed in these third-party publications.\nThis presentation contains trademarks, trade names and service marks of other companies, which are the property of their respective owners. We do not intend our use or display of other parties' trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. This presentation includes certain non-GAAP financial information, such as Adjusted EBITDA and cash available for distribution. Because not all companies calculate non-GAAP financial information identically (or at all), the non-GAAP financial information included herein may not be comparable to other similarly titled measures used by other companies. Further, such non-GAAP financial information should not be considered as a substitute for the information contained in the historical financial information prepared in accordance with GAAP included herein or provided in connection herewith. Please see page 25 of this presentation for definitions and reconciliations of such non-GAAP financial information.\nThis presentation contains financial forecasts with respect to the Company's projected financial results for the Company for the periods indicated. These projections should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Actual results may differ materially from the results contemplated by the projected financial information contained in this presentation and the inclusion of such information should not be regarded as a representation by any person that the results reflected in such information will be achieved. There can be no assurance that the prospective results are indicative of the future performance of the Company or that actual results will not differ materially from those presented in the prospective financial information.\nNothing herein should be construed as legal, financial, tax or other advice. You should consult your own advisers conceming any legal, financial, tax or other considerations conceming the opportunity described herein. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situation or financial needs.", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9b05c5a4-79ef-4d55-b41f-e44f2c9bb621", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03333, "w": 0.09417, "x": 0.875, "y": 0.94167 }, "kind": "image", "text": null, "attrs": {}, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "23cf315d-915d-4c90-b269-4194c1dd31f6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.01833, "x": 0.03083, "y": 0.95 }, "kind": "source-note", "text": "12", "attrs": { "numbered": true }, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "73db2fed-8ea7-4e11-8ac0-883757ebd8ab", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03167, "w": 0.65333, "x": 0.03083, "y": 0.04083 }, "kind": "title", "text": "Disclaimer and Forward-Looking Statements", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6ed6d757-d2d8-4b27-849b-06b7404a8063", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }