[Context: On October 29, Bayou City Energy announced forming BCE-Mach II with Tom Ward-led Mach Resources. BCE-Mach II will focus on Western Anadarko Basin. Further details and related links are below.]
Mach Resources LLC and Bayou City Energy Management LLC Announce a New Oil and Gas Partnership Focused on the Western Anadarko Basin
OKLAHOMA CITY & HOUSTON–October 29, 2018–(BUSINESS WIRE)–Mach Resources LLC (“Mach”) and Bayou City Energy Management LLC (“BCE”) have announced the formation of BCE-Mach II LLC (“BCE-Mach II”). The partnership will focus on acquisition opportunities of 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 is the second collaboration between Mach and BCE. The first partnership, BCE-Mach LLC (“BCE-Mach”), was formed in early 2018 with a focus on acquiring and developing assets in the Mississippi Lime play of Oklahoma and Kansas. BCE-Mach has successfully acquired multiple assets to date and is currently running three rigs, developing its asset base in the Mississippi Lime. BCE-Mach will continue being strategically acquisitive in the Mississippi Lime and continue its proven development plan throughout its asset base.
BCE, led by Will McMullen and Mark Stoner, is a private equity firm founded in 2015 focusing on the upstream oil and gas sector. Mach, led by Tom L. Ward, was founded in early 2017 with a preference towards low-risk, high cash flowing assets.
“Mach has been extremely pleased with its partnership with BCE in our joint acquisitions and development in the Mississippi Lime via BCE-Mach,” said Tom L. Ward, CEO of Mach. “We look forward to continuing our proven strategy in the Western Anadarko Basin via BCE-Mach II.”
“BCE is thrilled to continue its partnership with Mach by pursuing a similar strategy in the Western Anadarko Basin,” said McMullen, founder and managing partner of BCE. “Similar to the Mississippi Lime play, the area presents numerous opportunities to acquire cash flowing assets with low-risk, proven development upside. Mach has demonstrated their aptitude in increasing value from these types of assets in the Mississippi Lime, and we are confident they will do the same in the Western Anadarko Basin.”
About Mach Resources LLC
Mach is an independent oil and natural gas producer focused on acquiring, exploring and developing high-return, low-cost projects. 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 Management LLC
BCE 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.