Mach Natural Resources Posts Q2 2026 Results, Declares $0.36 Distribution, and Updates Guidance
MNR sits 26% above its 52-week low of $10.46.
Summary
Mach Natural Resources reported Q2 2026 net income of $98M and Adjusted EBITDA of $182M, and declared a $0.36 per unit distribution. Full-year guidance was revised to reflect a shift toward oil-weighted drilling, lifting the oil production outlook by roughly 4% at the midpoint.
Key Events · Earnings and Guidance · MNR
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Q2 2026 Financial Results
Total revenue reached $406M, driving net income of $98M and Adjusted EBITDA of $182M. The average realized oil price came in at $95.40/bbl.
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Quarterly Distribution Declared
A cash distribution of $0.36 per common unit was declared by the board, payable on August 31, 2026 to unitholders of record as of August 17.
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Updated 2026 Guidance
As capital shifts to oil-weighted projects, the oil production forecast was raised roughly 4% at the midpoint. Total Boe and gas production guidance, however, was lowered because Mancos completions have been deferred to 2027.
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Operational Highlights
Average production stood at 148.9 Mboe/d, with oil making up 15% of the mix. During the quarter, 9 gross operated wells were spud and 6 gross operated wells were brought online. Lease operating expense was $7.21/Boe.
Analysis · MNR · Energy & Transportation
Backed by strong oil prices, Mach Natural Resources turned in a solid second quarter with $98M in net income and $182M of Adjusted EBITDA. The $0.36 quarterly distribution and a guidance update that redirects capital toward higher-return oil projects underscore management's confidence in its flexible, returns-driven strategy. Together, the results and outlook offer a clear read on the company's operational momentum and capital allocation priorities.
At the time of this filing, MNR was trading at $13.21 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $10.46 to $15.15. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.