2024 Q4 Form 10-Q Financial Statement

#000162828024047202 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $255.5M
YoY Change 45.7%
Cost Of Revenue $83.23M
YoY Change 64.74%
Gross Profit $172.3M
YoY Change 37.99%
Gross Profit Margin 67.43%
Selling, General & Admin $9.385M
YoY Change 75.09%
% of Gross Profit 5.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.300M
YoY Change 27.78%
% of Gross Profit 1.33%
Operating Expenses $77.57M
YoY Change 88.64%
Operating Profit $94.73M
YoY Change 13.12%
Interest Expense $26.77M
YoY Change 1203.41%
% of Operating Profit 28.26%
Other Income/Expense, Net -$27.29M
YoY Change 10436.68%
Pretax Income $67.44M
YoY Change -19.21%
Income Tax
% Of Pretax Income
Net Earnings $67.44M
YoY Change -19.21%
Net Earnings / Revenue 26.39%
Basic Earnings Per Share $0.70
Diluted Earnings Per Share $0.70
COMMON SHARES
Basic Shares Outstanding 103.5M shares 95.04M shares
Diluted Shares Outstanding 97.03M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $184.5M
YoY Change 214.17%
Cash & Equivalents $184.5M
Short-Term Investments
Other Short-Term Assets $6.080M
YoY Change 76.23%
Inventory $26.31M
Prepaid Expenses
Receivables $98.92M
Other Receivables $34.33M
Total Short-Term Assets $380.5M
YoY Change 123.86%
LONG-TERM ASSETS
Property, Plant & Equipment $92.40M
YoY Change 19.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.18M
YoY Change 433.38%
Total Long-Term Assets $1.946B
YoY Change 119.89%
TOTAL ASSETS
Total Short-Term Assets $380.5M
Total Long-Term Assets $1.946B
Total Assets $2.326B
YoY Change 120.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.32M
YoY Change 29.94%
Accrued Expenses $49.82M
YoY Change 35.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $82.50M
YoY Change
Total Short-Term Liabilities $306.2M
YoY Change 124.78%
LONG-TERM LIABILITIES
Long-Term Debt $687.7M
YoY Change 648.28%
Other Long-Term Liabilities $2.203M
YoY Change 265.34%
Total Long-Term Liabilities $795.3M
YoY Change 424.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $306.2M
Total Long-Term Liabilities $795.3M
Total Liabilities $1.101B
YoY Change 282.48%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.225B
YoY Change
Total Liabilities & Shareholders Equity $2.326B
YoY Change 120.53%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $67.44M
YoY Change -19.21%
Depreciation, Depletion And Amortization $2.300M
YoY Change 27.78%
Cash From Operating Activities $110.8M
YoY Change -70.98%
INVESTING ACTIVITIES
Capital Expenditures $94.08M
YoY Change -66.55%
Acquisitions
YoY Change
Other Investing Activities $66.00K
YoY Change -98.02%
Cash From Investing Activities -$94.01M
YoY Change -66.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 23.08M
YoY Change -130.87%
NET CHANGE
Cash From Operating Activities 110.8M
Cash From Investing Activities -94.01M
Cash From Financing Activities 23.08M
Net Change In Cash 39.91M
YoY Change 36.13%
FREE CASH FLOW
Cash From Operating Activities $110.8M
Capital Expenditures $94.08M
Free Cash Flow $16.77M
YoY Change -83.36%

Facts In Submission

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us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
676000 usd
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
445000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7188000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-28549000 usd
mnr Increase Decrease In Deferred Income
IncreaseDecreaseInDeferredIncome
10689000 usd
mnr Increase Decrease In Deferred Income
IncreaseDecreaseInDeferredIncome
6394000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-192000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2764000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-2911000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-6785000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
371631000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
381967000 usd
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
162432000 usd
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
251538000 usd
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
9187000 usd
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
9083000 usd
us-gaap Payments To Acquire Assets Investing Activities
PaymentsToAcquireAssetsInvestingActivities
47192000 usd
us-gaap Payments To Acquire Assets Investing Activities
PaymentsToAcquireAssetsInvestingActivities
20613000 usd
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
38975000 usd
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
561000 usd
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
36000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-179275000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-277893000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
129812000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
41250000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
0 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
7000000 usd
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
247153000 usd
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
0 usd
us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid
0 usd
us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid
101350000 usd
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 usd
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
20000000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
570000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1454000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
404000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-160615000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-74754000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
31741000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
29320000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
152792000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29417000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184533000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58737000 usd
us-gaap Nature Of Operations
NatureOfOperations
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:3.3pt">Organization and Nature of Business</span><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mach Natural Resources LP (the “Company”) is a Delaware limited partnership that was formed for the purpose of effectuating an initial public offering (the “Offering”) that closed in October 2023. The Company’s common units representing limited partnership interests (the “common units”) are listed on The New York Stock Exchange under the symbol “MNR.” The Company is an independent upstream oil and gas company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas and the panhandle of Texas.</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the Offering and Corporate Reorganization (as defined below), the Company became a holding partnership whose sole material asset consists of membership interests in Mach Natural Resources Intermediate LLC (“Intermediate”). Intermediate wholly owns Mach Natural Resources Holdco LLC (“Holdco”), and Holdco wholly owns each of the Company’s three operating subsidiaries, BCE-Mach LLC (“BCE-Mach”), BCE-Mach II LLC (“BCE-Mach II”) and BCE-Mach III LLC (collectively, the “Mach Companies”). BCE-Mach III LLC (the “Predecessor”) is the accounting predecessor to the Company for all periods prior to the Offering as discussed herein.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s operations are governed by the provisions of its partnership agreement, executed by its general partner, Mach Natural Resources GP LLC (the “General Partner”) and the limited partners. The General Partner is managed and operated by the board of directors and executive officers of the General Partner. The members of the board of directors of the General Partner are appointed by the members of the General Partner, BCE-Mach Aggregator and Mach Resources in proportion to their respective limited partnership ownership in the Company.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management has evaluated how the Company is organized and managed and identified a single reportable segment, which is the exploration and production of oil, natural gas and NGLs. Management considers the Company’s gathering, processing and marketing functions as ancillary to its oil and gas producing activities. All of the Company’s operations and assets are located in the United States, and its revenues are attributable to United States customers.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Corporate Reorganization</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 25, 2023, the Company underwent a corporate reorganization (the “Corporate Reorganization”) whereby (a) the existing owners who directly held membership interests in the Mach Companies prior to the Offering (the “Existing Owners”) contributed 100% of their membership interests in the Mach Companies for a pro rata allocation of 100% of the limited partner interests in the Company to effectuate a merger of such entities into the Company with BCE-Mach III determined as the accounting acquirer, (b) the Company contributed 100% of its membership interests in the Mach Companies to Intermediate in exchange for 100% of the membership interests in Intermediate, and (c) Intermediate contributed 100% of its membership interests in the Mach Companies to Holdco in exchange for 100% of the membership interests in Holdco.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Initial Public Offering</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 27, 2023, the Company completed the Offering of 10,000,000 common units at a price of $19.00 per unit to the public. The sale of Company’s common units resulted in gross proceeds of $190.0 million to the Company and net proceeds of $168.5 million, after deducting underwriting fees and offering expenses. The material terms of the Offering are described in the Company’s final prospectus, filed with the U.S. Securities and Exchange Commission (“SEC”) on October 26, 2023, pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended (the “Securities Act”).</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company used $102.2 million of the proceeds to pay down the existing credit facilities of its operating subsidiaries (the “Pre-IPO Credit Facilities”) and $66.3 million of the proceeds to purchase 3,750,000 common units from the existing common unit owners on a pro rata basis. After giving effect to the Offering and the transactions related thereto, the Company had 95,000,000 common units issued and outstanding.</span></div>
CY2023Q4 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
102200000 usd
CY2023Q4 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
66300000 usd
CY2023Q4 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
3750000 shares
CY2023Q4 us-gaap Common Unit Issued
CommonUnitIssued
95000000 shares
CY2023Q4 us-gaap Common Unit Outstanding
CommonUnitOutstanding
95000000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates are reasonable, actual results could differ from these estimates. The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. These reclassifications had an immaterial effect on the previously reported total assets, total liabilities, partners’ capital, results of operations or cash flows.</span></div>
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3600000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1700000 usd
mnr Amortization Expense Per Physical Unit Of Production Average Expense During Period
AmortizationExpensePerPhysicalUnitOfProductionAverageExpenseDuringPeriod
7.97
mnr Amortization Expense Per Physical Unit Of Production Average Expense During Period
AmortizationExpensePerPhysicalUnitOfProductionAverageExpenseDuringPeriod
6.52
CY2024Q3 mnr Amortization Expense Per Physical Unit Of Production Average Expense During Period
AmortizationExpensePerPhysicalUnitOfProductionAverageExpenseDuringPeriod
8.17
CY2023Q3 mnr Amortization Expense Per Physical Unit Of Production Average Expense During Period
AmortizationExpensePerPhysicalUnitOfProductionAverageExpenseDuringPeriod
6.64
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
189300000 usd
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
86100000 usd
CY2024Q3 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
61500000 usd
CY2023Q3 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
30200000 usd
CY2023Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2024Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Depreciation
Depreciation
6700000 usd
us-gaap Depreciation
Depreciation
4600000 usd
CY2024Q3 us-gaap Depreciation
Depreciation
2300000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
1800000 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
2600000 usd
CY2024Q3 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
2000000.0 usd
CY2023Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
2200000 usd
CY2023Q4 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
1600000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
13600000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
18000000.0 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
85094000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
52359000 usd
mnr Asset Retirement Obligation Liabilities Assumed In Acquisitions
AssetRetirementObligationLiabilitiesAssumedInAcquisitions
9115000 usd
mnr Asset Retirement Obligation Liabilities Assumed In Acquisitions
AssetRetirementObligationLiabilitiesAssumedInAcquisitions
214000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
546000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
284000 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
559000 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
479000 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
313000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
5184000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3282000 usd
CY2024Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
99380000 usd
us-gaap Interest Paid Net
InterestPaidNet
75392000 usd
us-gaap Interest Paid Net
InterestPaidNet
5326000 usd
mnr Increase Decrease In Accrued Capital Expenditures Non Cash
IncreaseDecreaseInAccruedCapitalExpendituresNonCash
7290000 usd
mnr Increase Decrease In Accrued Capital Expenditures Non Cash
IncreaseDecreaseInAccruedCapitalExpendituresNonCash
-13263000 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
546000 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
284000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2792000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6449000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1740000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
0 usd
mnr Offering Costs Accrued
OfferingCostsAccrued
822000 usd
mnr Offering Costs Accrued
OfferingCostsAccrued
0 usd
CY2024Q2 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
38000000.0 usd
CY2024Q3 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
2275042000 usd
CY2023Q4 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
2097540000 usd
CY2024Q3 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
455164000 usd
CY2023Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
265895000 usd
CY2024Q3 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
1819878000 usd
CY2023Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
1831645000 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
114162000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
105302000 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21767000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15642000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
92395000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
89660000 usd
CY2024Q3 mnr Accrued Operating Expenses
AccruedOperatingExpenses
13075000 usd
CY2023Q4 mnr Accrued Operating Expenses
AccruedOperatingExpenses
15686000 usd
CY2024Q3 us-gaap Construction Payable Current
ConstructionPayableCurrent
12581000 usd
CY2023Q4 us-gaap Construction Payable Current
ConstructionPayableCurrent
15042000 usd
CY2024Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
4755000 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
5989000 usd
CY2024Q3 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
11072000 usd
CY2023Q4 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
3438000 usd
CY2024Q3 mnr Accrued Midstream Shipping Costs
AccruedMidstreamShippingCosts
1061000 usd
CY2023Q4 mnr Accrued Midstream Shipping Costs
AccruedMidstreamShippingCosts
1247000 usd
CY2024Q3 mnr Accrued General And Administrative Expense
AccruedGeneralAndAdministrativeExpense
7274000 usd
CY2023Q4 mnr Accrued General And Administrative Expense
AccruedGeneralAndAdministrativeExpense
3127000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
49818000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
44529000 usd
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
33684000 usd
CY2023Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-4900000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-219000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
10842000 usd
CY2024Q3 us-gaap Derivative Assets
DerivativeAssets
37359000 usd
CY2024Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
3426000 usd
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
39914000 usd
mnr Share Based Compensation Arrangement By Share Based Payment Award Number Of Award Categories
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAwardCategories
2 numberofcategories
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.53
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0140
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2378.8
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
2378.8
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2378.8
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2378.8
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2378.8
CY2024Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
5400000 usd
us-gaap Results Of Operations Transportation Costs
ResultsOfOperationsTransportationCosts
2700000 usd
us-gaap Results Of Operations Transportation Costs
ResultsOfOperationsTransportationCosts
300000 usd
CY2024Q3 us-gaap Results Of Operations Transportation Costs
ResultsOfOperationsTransportationCosts
600000 usd
CY2023Q3 us-gaap Results Of Operations Transportation Costs
ResultsOfOperationsTransportationCosts
100000 usd
CY2024Q3 us-gaap Purchase Obligation
PurchaseObligation
1400000 usd
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.10
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2900000 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000 usd
CY2024Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
900000 usd
CY2023Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
400000 usd
CY2024Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P1Y
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2229000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5565000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2413000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1433000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
273000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11913000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
772000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
11141000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
2517000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3429000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
9454000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
10047000 usd
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7495000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2600000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
19357000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
7744000 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
10012000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
6029000 usd
us-gaap Lease Cost
LeaseCost
28811000 usd
us-gaap Lease Cost
LeaseCost
17791000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M13D
CY2024Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.059
us-gaap Operating Lease Payments
OperatingLeasePayments
9462000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
9971000 usd
CY2023Q4 us-gaap Partners Capital Account Units Sale Of Units
PartnersCapitalAccountUnitsSaleOfUnits
88750000 shares
CY2023Q4 us-gaap Partners Capital Account Units Sold In Public Offering
PartnersCapitalAccountUnitsSoldInPublicOffering
10000000 shares
CY2023Q4 us-gaap Partners Capital Account Units Treasury
PartnersCapitalAccountUnitsTreasury
3750000 shares
CY2024Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
7272728 shares
CY2024Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
16.50
CY2024Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
16.50
CY2024Q3 mnr Sale Of Stock Consideration Received On Transaction Gross
SaleOfStockConsiderationReceivedOnTransactionGross
136800000 usd
CY2024Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
129000000.0 usd
CY2024Q3 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
103330882 shares
CY2023Q4 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
95000000 shares
CY2024Q3 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
85500000 usd
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
247200000 usd
CY2023Q3 us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid
26900000 usd
us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid
101400000 usd
CY2023Q3 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
20000000 usd
us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
20000000 usd
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9400 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8100 shares
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
67444000 usd
us-gaap Net Income Loss
NetIncomeLoss
148662000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96856000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95626000 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
177000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
136000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97033000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95762000 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.55
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
mnr-20240930_cal.xml Edgar Link unprocessable
0001628280-24-047202-index-headers.html Edgar Link pending
0001628280-24-047202-index.html Edgar Link pending
0001628280-24-047202.txt Edgar Link pending
0001628280-24-047202-xbrl.zip Edgar Link pending
exhibit311-certificationof.htm Edgar Link pending
exhibit312-certificationof.htm Edgar Link pending
exhibit321-certificationof.htm Edgar Link pending
exhibit322-certificationof.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mnr-20240930.htm Edgar Link pending
mnr-20240930.xsd Edgar Link pending
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mnr-20240930_def.xml Edgar Link unprocessable
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mnr-20240930_htm.xml Edgar Link completed
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