BCE-backed Mach Natural Resources to acquire Permian Basin oil and gas assets from Sabinal Energy for $500m.

BCE-backed Mach Natural Resources, a drilling oil and gas wells company, agreed to acquire Permian Basin oil and gas assets from Sabinal Energy, an exploration and production company, for $500m. "We are excited to partner with Tom and the Mach team on this transformative transaction. Our firms share a common vision of aggregating shallow-decline, free cash flowing assets and creating value through a strong commitment to equity distributions. We believe the addition of the Sabinal assets to the Mach platform will significantly enhance its long-term success and position the Company for continued consolidation in the Permian," Mark Teshoian, Kayne Anderson Managing Partner.