Tom Ward is back and that is good news for Oklahoma mineral owners
Oklahoma Oil and Gas Royalty Owners,
NewsOK business writer Jack "in the" Money, reported a new partnership, BCE-Mach, LLC ("Mach"), that was formed earlier this year between Mach Resources, LLC, and Bayou City Energy. Bayou City Energy will be providing capital to the acquisition and development efforts of Mach Resources, LLC, that is led by Tom Ward.
Mach Lease Bonus = Pleased Oklahoma Mineral Owner
This announcement should make Oklahoma oil and gas mineral owners smile (and dream about purchasing a new combine...). In the recent past, Ward has been associated with Chesapeake Energy, Sandridge Energy, and Tapstone Energy (so much energy that its giving Berlin chest pains). Chesapeake and Sandridge specifically, were known for paying 2x-4x the going lease bonus in the area in order to assemble their prospect.
Mach stated "It is our intent for this platform to be aggressive in consolidating and redeveloping select under capitalized regions of the upstream sector" (in Oklahoma and Kansas). Mach has not recorded any oil and gas leases in Oklahoma to date, but one could read the under capitalized tea leaves steeping in the mid-continent and see Mach stepping back into the watery tar pit f/k/a the Miss Lime.
This would be weird, but not unusual. After all, if you are the only company taking a risk and you fail, you will get fired and will be accused of being a poor steward of your investor's capital and a poor explorationist (Johnny's word, not Berlin's) to boot. But if you are one of many to take a "risk" and you all fail, you may get fired (or may not), but you will be okay enough (because others were just as wrong) that you'll get an "atta boy" or "we understand, the macro-headwinds shifted" or "man, we were just as surprised as you were that the LOE never decreased" and will be able to raise money again.
Either way, it will advantageous for the Oklahoma mineral owner to follow Mach's war path to greatness. If you have any more questions on Mach or you would like to sell your Oklahoma mineral rights and royalties, please contact Berlin.
More to follow,
Berlin
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