Mach Resources and Bayou City Energy Management (BCE) have formed the BCE-Mach II partnership, which will focus on acquisition opportunities of low-risk, high cash flowing oil and gas properties with drilling inventory in the Western Anadarko Basin spread across western Oklahoma and the Texas Panhandle.
Image: Onshore drilling. Photo: courtesy of Stuart Miles/Freedigitalphotos.net.
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 CEO Tom L. Ward said: “Mach has been extremely pleased with its partnership with BCE in our joint acquisitions and development in the Mississippi Lime via BCE-Mach.
“We look forward to continuing our proven strategy in the Western Anadarko Basin via BCE-Mach II.”
BCE founder and managing partner McMullen said: “BCE is thrilled to continue its partnership with Mach by pursuing a similar strategy in the Western Anadarko Basin.
“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.”
Source: Company Press Release