Form 4: Director-Affiliated Entities Boost MNR Stake

Entities affiliated with Director William W. McMullen increased their beneficial ownership in Mach Natural Resources LP by purchasing 30,000 common units.

Summary

• Entities affiliated with Director William W. McMullen, specifically BCE-Mach Aggregator LLC, acquired a total of 30,000 common units of Mach Natural Resources LP.
• On December 8, 2025, 12,500 common units were purchased at a weighted average price of $12.53 per unit, with prices ranging from $12.44 to $12.67.
• On December 9, 2025, an additional 17,500 common units were purchased at a weighted average price of $12.32 per unit, with prices ranging from $12.30 to $12.35.
• Following these transactions, the reporting persons beneficially own a total of 74,850,632 common units.
• This total includes 74,835,939 units directly held by BCE-Mach Aggregator LLC and 14,693 units directly held by Bayou City Energy Management LLC.
• William W. McMullen, as Managing Partner of Bayou City Energy Management LLC, which indirectly manages BCE-Mach Aggregator LLC, may be deemed to beneficially own these securities, though he disclaims ownership except to the extent of his pecuniary interest.

Sentiment

Score: 8

Explanation: The sentiment is positive due to significant insider buying by a director and 10% owner, indicating strong confidence in the company's valuation and future performance.

Positives

• Significant insider buying by entities affiliated with a director and 10% owner, indicating confidence in the company's future prospects.
• The purchases increase the total beneficial ownership of the reporting persons, aligning their interests further with other shareholders.

Future Outlook

NA

Management Comments

• The Reporting Persons undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of common units purchased at each separate price within the ranges set forth in this footnote.

Industry Context

NA

Related Party Transactions

• The transactions involve entities (BCE-Mach Aggregator LLC and Bayou City Energy Management LLC) that are indirectly managed by William W. McMullen, a Director and 10% owner of Mach Natural Resources LP.

Stakeholder Impact

• Shareholders: Increased confidence due to insider buying, potentially leading to positive market perception and share price support.
• Management: Further alignment of interests between the reporting persons and the company's overall performance.

Key Dates

Recommendation

The significant insider buying by a director and 10% owner, William W. McMullen, through affiliated entities, signals strong conviction in Mach Natural Resources LP's current valuation and future growth prospects. Such actions by well-informed insiders often precede positive company developments or reflect a belief that the stock is undervalued, making it an attractive 'buy' signal for investors.

Keywords

MACH NATURAL RESOURCES LP, MNR, Insider Buying, Form 4, Beneficial Ownership, Director Purchase, Equity Acquisition, BCE-Mach Aggregator LLC, Bayou City Energy Management LLC, William W. McMullen