NYSE: MNR machnr.com Investor Presentation June 2025 1
Low Risk Business Model, Built to Deliver Sustainable Value Top Operator in the Mid-Con 6,400 gross operated producing wells 1.6B MARKET CAP(1) 2.0 EV(1) 0.8x net leverage(2) Largest Acreage Holder in the Mid-Con(3) 2.1MM net acres;…
Our Four Pillars Key Financial Policies MAINTAIN FINANCIAL Focused on SUSTAINING FINANCIAL STRENGTH through all commodity STRENGTH UNDERPINNED BY cycles by maintaining a LOW NET DEBT TO ADJUSTED EBITDA RATIO around LOW LEVERAGE the…
Strong Balance Sheet and Free Cash Flow Profile ( in Millions) 0.8x net leverage(1) Market Capitalization(7) 1,569 Total Enterprise Value(4) 2,021 3/31/2025 Total Debt 460 3.6x PDP Coverage…
Experienced Management Team Large portions of Machs management team have worked together since Tom L. Ward co-founded Chesapeake Energy in 1989 Name Position Years of Prior Experience Experience Tom L. Ward Chief Executive Officer 40+…
Strength of Machs Master Limited Partnership Structure Mach Resources Public MNR GP LLC LLC Management Bayou City Energy Unitholders Non-Economic GP Interest .36% LP Interest 11.62% LP Interest 62.78% LP Interest 25.24% LP…
Mach Evolution & Acquisition History 21 18 & 19 XTO W. Kansas & April 2025 2,500,000 Daily Production (MBOED) Ardmore 100 20 Sep & Oct 2024 14 & 15 Flycatcher Cumulative Net Acreage Jan 2025 Jun 2022 17 Acquisition and Date 13…
Acquisitions Our Approach and Expertise Mach: Adept at Adding Reserves via Low- Cost Acquisitions All assets to-date acquired at a DISCOUNT TO PDP PV-10 For the last five years, the Mid-Continent has provided the most attractive…
Strong Track Record of Value Creation Mach Has a History of Extracting Efficiencies out of Acquired Assets Asset AssetValue Valueat Cost Revenue Opportunistic Re-rating G&A Mach Mach atAcquisition Acquisition Improvements…
Investment Highlights Scaled, Low-Decline Asset Base in Anadarko Basin 2.1MM net acres (99% HBP) and 6,400 gross operated producing wells across the Anadarko Basin Predictable and reliable production profile in mature basin (20% NTM…
Peer Leading PDP Decline and Reinvestment Rate Low Decline Asset Base Generates Significant Free Cash Flow NTM PDP Decline (%)(1) 20% NTM PDP decline(1) vs peer average of 33% 40% 38% 86% of Proved Developed PV-10(2) 35% 35% 35% 36%…
Strong Asset Coverage and Low Leverage ( in millions) 1,954 Demonstrated Ability to Access PUD, 290 Proved Coverage: 4.2x(1) Primary Equity Capital Markets 550MM* raised since IPO leading Proved Developed Coverage: to further…
Extensive Midstream Infrastructure Enhances Margins Asset Overview Combined Midstream Map(1) Mach owns and operates multiple gas gathering and gas processing assets along with an extensive network of Waynoka Vertically water…
Mach is a Leading Low-Cost Operator Machs Strategic Advantage Quarterly LOE ( / Boe)(1) Optimized Asset Management: 9.39 9.56 Stable, low-decline assets minimize 8.20 costly maintenance and interventions Average: 7.24 / Boe 6.61 6.69…
Evolution of Contiguous Mid-Con Footprint Focused on low-cost acquisitions that are accretive to FCF Drilling opportunities provide ability to maintain production EXPERIENCED IN ADDING LOW-COST RESERVES and FCF generation Experienced…
Recent Acquisition Overview XTO Transaction Details Unadjusted Purchase Price: 60MM TOTAL NET ACREAGE TOTAL OPERATED WELLS Effective Date: May 1, 2025 990,000 1,400 Closing Date: April 30, 2025 Acquired Upstream Assets Assets…
Mid-Con Basin Landscape Today NEW FOCUS ON ANADARKO Significant activity fall off during Pandemic, but STEADY RAMP UP SINCE 2022 REVIVAL IN ANADARKO BASIN driven by the increased interest in developing the condensate and dry gas…
Over a Decade of Drilling Inventory Across Oil, Condensate and Dry Gas Windows Machs 2.1MM Net Acreage Mid-Con Position(1) Mach can tailor its drilling plans to target oil or gasand ramp activity up or Red Fork downdepending upon…
Mach 2025 Development Plan Transitioning development program from STACK Gas Overview Map Oswego to dry gas phase window in June 2025 Running 2 rigs in Q3 2025 - 1 rig in the deep gas area of the STACK and 1 rig in the Red Fork in…
Financial Policy FLEXIBILITY TO REDIRECT FREE CASH FLOW TO MAINTAIN LOW LEVERAGE PROFILE MAINTAIN COMMITTED TO CONSERVATIVE LEVERAGE CONSERVATIVE TARGETS PROFILE OF 1.0X NET LEVERAGE OR LESS LEVERAGE AND FINANCIAL Ability and…
Machs Commitment to ESG Initiatives Multifaceted system with direct lines of communication from Environmental, Health and Safety (EH&S) personnel up through EVP of Operations Mach EH&S Function Team currently consists of an EH&S VP,…
Appendix 24
Year-End 2024 Reserves Summary Note: Some total and changes throughout the Appendix may not sum or recalculate due to rounding. NET RESERVES Oil NGL Gas Total Liquids PV-10(1) Reserve Category (MMBbl) (MMBbl) (Bcf) (MMBOE) (%) (MM)…
FY2024 Financial Info. and Non-GAAP Reconciliations All in millions (unless otherwise noted) As of 12/31/2024 Adjustments Pro Forma(1) Reinvestment Rate FY24 Cash and Cash Equivalents 106 (96) 10 Cash Flow From Operations 505…
FY2024 Financial Info. and Non-GAAP Reconciliations All in thousands (unless otherwise noted) Proved Developed Proved Flycatcher Acquisition Proved Producing Undeveloped Net Reserves Oil (MBbl) 630.9 1,323.2 1,954.0 Gas (MMcf)…
Q1 2025 Financial Info. and Non-GAAP Reconciliations All in thousands (except per unit amounts) Income Statement Q1 2025 Operational Statistics Q1 2025 Non-GAAP Reconciliations (1) (1,2,3) Q1 2025 Net Production Net Daily Production…
Q1 2025 Financial Info. and Non-GAAP Reconciliations All in thousands (except per unit amounts) LTM Adjusted EBITDA(1) Q2 2024 Q3 2024 Q4 2024 Q1 2025 LTM Net Income 39,516 67,444 36,517 15,886 159,363 Interest expense, net…
Other Financial Info. and Non-GAAP Reconciliations All in thousands (except per unit amounts) Nine Months Ended 2023 Adjusted EBITDA(1) September 30, 2023 Pro Forma Income from Operations 437,653 DD&A - Oil and Natural Gas 163,418…
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