[Context: On March 15, Tom Ward-led Mach Resources announced a partnership with Bayou City Energy to acquire, explore and develop oil and gas assets in the Mid-Continent. Called BCE-Mach LLC, the entity will pursue high PDP properties with drilling upside. Further details and related links are below.]
Mach Resources LLC and Bayou City Energy Management LLC Announce Oil and Gas Partnership
OKLAHOMA CITY–March 15, 2018–(BUSINESS WIRE)–Mach Resources LLC (“Mach”) and Bayou City Energy Management LLC (“BCE”) are pleased to announce the formation of BCE-Mach LLC, a new partnership acquiring, exploring and developing oil and gas assets across Oklahoma and Kansas. The new partnership will focus on acquisition opportunities of producing properties with strong cash flow generation and drilling inventories.
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, conventional asset development.
“We’re pleased to partner with Tom and his exceptional management team at Mach to pursue this exciting strategy,” McMullen said. “The Mid-Continent region supports excellent risk-adjusted upstream investment returns, and we’re confident the extensive network and leading insights brought by the Mach team combined with BCE’s experience operating in Oklahoma will result in a productive and profitable partnership. It is our intent for this platform to be aggressive in consolidating and redeveloping select undercapitalized regions of the upstream sector and we look forward to executing this strategy with the Mach team.”
“In our search for an equity partner, we were impressed with Bayou City’s investment approach and management team,” Ward said. “Their previous track record in Oklahoma and outlook on future opportunities aligns well with our strategy at Mach. We look forward to working with BCE in actively pursuing assets that meet our common objective.”
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 good production history and development opportunity. Mach is located in Oklahoma City, OK.
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 operators 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 Argus Energy Managers, provides operators access to expertise, capital and trusted partnership.