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Mach Resources Makes First Acquisitions Within Its New Partnership with Bayou City Energy, BCE-Mach II LLC
Thursday 18 July 2019

18 July 2019 - In May, US-based oil and natural gas producer Mach Resources LLC and private equity firm Bayou City Energy Management LLC have formed BCE-Mach II LLC to pursue low-risk, high cash flowing oil and gas properties with drilling inventory in the Western Anadarko Basin spanning across Western Oklahoma and the Texas Panhandle.
BCE-Mach II LLC is the second collaboration between Mach and BCE. The first partnership, BCE-Mach LLC continues to own, operate and acquire properties in the Mississippi Lime.
This month, BCE-Mach II announced it has signed a purchase and sale agreement to purchase producing properties in Beckham, Custer, Dewey, Roger Mills and Washita Counties, Oklahoma and Hemphill and Roberts Counties, Texas from an undisclosed seller.
Closing on this first acquisition is subject to customary conditions and is expected to occur in September 2019.
Additionally, in a separate transaction with a different undisclosed seller, BCE-Mach II announces it has signed a second Purchase and Sale Agreement to acquire producing properties across 32 counties in Oklahoma and seven counties in Texas. Closing on this second acquisition is subject to customary conditions and is expected to occur in September 2019.
Mach is an independent oil and natural gas producer focused on acquiring, exploring and developing high-return, low-cost products.
Founded in January 2017, the company pursues assets with production history and development opportunity. Mach is located in Oklahoma City, OK.
About Bayou City Energy is a private equity firm founded in 2015 to focus on making investments in the North American upstream oil and gas sector.
BCE targets privately negotiated investments through two complementary strategies; providing buyout and growth equity capital for operated assets with current production and exploitable upside and partnering with operators to provide dedicated drilling capital in off-balance sheet structures.
The BCE team, combined with the firm's Advisory board and strategic relationship with Ara Partners Group LLC, provides operators access to expertise, capital, and trusted partnership.
Details
Date Published: 18/07/2019
Target: Producing properties in Beckham, Custer, Dewey, Roger Mills and Washita Counties, Oklahoma and Hemphill and Roberts Counties, Texas
Country: USA
Sector: Petroleum/Natural Gas/Coal
Type: JV
Status: Agreed
Vendor:
Buyer: BCE-Mach II
Comment:
Terms of the deal were not disclosed

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