Mach Natural Resources has signed two definitive agreements totaling $1.3 billion, marking a major strategic move beyond its traditionally Oklahoma-focused operations. These acquisitions will give the Anadarko Basin-centered independent producer its first significant footholds in the Permian and San Juan basins, through the purchase of assets from Sabinal Energy and entities managed by IKAV Energy.
The deals will expand Mach’s total acreage footprint by roughly one-third to 2.8 million net acres across the Permian, San Juan, and Mid-Continent regions. According to the company, they will also nearly double overall production from 81,000 BOE/D to 152,000 BOE/D, while increasing natural gas exposure from 53% to 66%.
“These acquisitions are transformative for Mach,” said Tom Ward, chief executive at Mach. “They not only strengthen our asset base but also advance the core pillars on which we’ve built the company since our founding. With this step, we significantly enhance our scale and gain strategic multibasin positioning.”
Permian Basin Deal – Sabinal Energy
To enter the Permian Basin, Mach has agreed to acquire Sabinal’s oil-weighted assets for an unadjusted purchase price of $500 million, subject to customary terms, conditions, and closing adjustments. Funding will come from $300 million in equity consideration (Mach common units), plus a combination of cash on hand and borrowings under its revolving credit facility.
· Acreage: Approximately 130,000 net acres
· First-quarter 2025 average production: ~11,000 BOE/D (98% liquids, 2% natural gas)
· Asset Details: According to Sabinal’s website, these assets are located on the Central Basin Platform and the Eastern, Northern, and Northwest Shelves of the Permian Basin. Production comes from waterflood and CO₂ flood operations in a stacked pay environment.
San Juan Basin Deal – IKAV Energy
Mach will pay an unadjusted purchase price of $787 million for IKAV San Juan, with $462 million in equity consideration (Mach common units) and the remainder funded via cash and credit.
· Acreage: Approximately 570,000 net acres
· First-quarter 2025 average production: ~60,000 BOE/D (6% liquids, 94% natural gas)
· Asset Background: These properties originated from IKAV’s 2020 acquisition of Simcoe LLC, a natural gas asset in the San Juan Basin spanning Colorado and New Mexico. Previously owned by bp plc, this deal marked IKAV’s entry into the conventional energy market.
Both acquisitions are expected to close during the third quarter of 2025, with an effective date of April 1, 2025.
Active Growth Strategy
Mach has been an aggressive acquirer since its founding in 2018, having completed more than 20 deals over the past seven years.
October 2024: Closed two deals totaling $136 million, expanding its Anadarko Basin and Ardmore Basin holdings.
Ten months earlier: Acquired Oklahoma oil and gas properties from Paloma Partners IV for $815 million.
About Mach Natural Resources LP
Mach Natural Resources LP is an independent upstream oil and gas company specializing in acquiring, developing, and producing oil, natural gas, and NGL reserves across the Anadarko Basin region, which spans western Oklahoma, southern Kansas, and the Texas Panhandle.
