BCE-Mach III LLC, Oklahoma City, agreed to acquire producing properties in western and southern Oklahoma and the Texas Panhandle from Cimarex Energy. The acquisition, expected to close in June, also includes two gas gathering and processing assets in southern Oklahoma.
BCE-Mach III was formed in early 2020 and in April 2020 acquired the upstream and midstream assets from Alta Mesa Holdings LP and Kingfisher Midstream LLC, which lie primarily in Kingfisher County, Okla. (OGJ Online, Jan. 29, 2020). In total, Bayou City Energy Management LLC (BCE) and Mach Resources LLC (Mach) have made eight separate acquisitions since 2018 across the three BCE-Mach portfolio companies (collectively “BCE-Mach”).
BCE-Mach has assembled a portfolio of Anadarko basin assets across 46 counties in Oklahoma, Kansas, and the Texas Panhandle, including interest in over 7,200 producing wells (over 3,100 operated producing wells), more than 700,000 net acres (96% held by production), and net production of 48,000 boe/d (50% liquids).
BCE-Mach owns and operates an infrastructure portfolio including two fully integrated water transfer and disposal systems (700 miles of water pipelines and 45 disposal wells), three gas gathering and processing systems (310 MMcfd processing capacity and 450 miles of gathering lines), an 85,000 HP compression fleet, and a crude gathering system (108 miles of pipeline and 50,000 bbl storage facility).
