A year after snapping up the Mid-Continent assets of now defunct Alta Mesa, Okla. City-based Mach Resources is back in the acquisition game with a shiny new prize. Reese Energy Consulting today is following the latest news from BCE-Mach III, which has signed a purchase and sale agreement with Denver-based Cimarex Energy for producing properties in Western and Southern Okla., and the Texas Panhandle. The deal also includes two gas gathering and processing systems in Southern Okla. Financial details weren’t immediately disclosed. Led by private equity firm Bayou City Energy and Mach CEO Tom Ward, BCE-Mach III in 2020 bid an initial $320 million for Alta Mesa’s producing and midstream assets in the Mid-Continent, ultimately paying a million less after crude oil prices nosedived. The company’s portfolio includes a sprawl of oil, natural gas, and water assets across 46 counties in Okla., Texas, and Kans. Ward was the cofounder of Chesapeake Energy along with the late Aubrey McClendon.
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.