Mach Natural Resources completes the acquisition of Paloma Anadarko basin assets

In conjunction with the closing of the acquisition, Mach entered into an US$825 million term loan credit agreement to fund the purchase price, from a group led by Chambers Energy Management and EOC Partners, and including Mercuria Investments US, Inc., funds managed by Farallon Capital Management LLC, Macquarie Group, and Texas Capital Bank, among other financial institutions as participants, with Texas Capital Bank acting as the administrative agent.

Mach also entered into a US$75 million super priority revolving credit facility led by MidFirst Bank. In connection with closing of the acquisition, Mach used proceeds from the term loan facility and cash on hand to repay the existing amounts outstanding under the previously outstanding revolving credit agreement and such agreement was terminated. As of closing of the acquisition, the revolving credit facility was undrawn.

Read the article online at: https://www.oilfieldtechnology.com/special-reports/02012024/mach-natural-resources-completes-the-acquisition-of-paloma-anadarko-basin-assets/