BCE-Mach Announces Agreements for its 10th and 11th Acquisitions and Provides Operational and Financial Updates
Summary
Representing its fourth acquisition in the STACK, BCE-Mach is acquiring additional working interest across 61 wells it operates in Kingfisher County, Oklahoma. BCE-Mach will maintain a highly disciplined approach to its drilling program and will continue only undertaking projects that will deliver excellent well-level IRRs with short payback periods. With two rigs running currently, BCE-Mach is consistently identifying drilling opportunities meeting its criteria of 100+% IRRs across its STACK and Mississippi Lime assets. “Despite changing commodity prices and investor interest in our industry, we have consistently been able to deploy capital and acquire assets at approximately 2.5 times cashflow. Additionally, our acquisitions have delivered significant value through adding targeted drilling locations and pre-existing midstream infrastructure while purchasing at discounts to PV10.” “Our strategy is working,” said Bayou City Energy Founder & Managing Partner Will McMullen.