Mach Resources Announces First Acquisition in Partnership with Bayou City Energy

OKLAHOMA CITY–(BUSINESS WIRE)–BCE-Mach LLC, a recently formed partnership between Bayou City Energy
Management LLC (“BCE”) and Mach Resources LLC (“Mach”), closed the
purchase of operated producing properties concentrated in Woods and
Alfalfa counties, Oklahoma on March 29, 2018 from Chesapeake Energy
Corporation (NYSE:CHK). BCE-Mach was formed with a focus on acquisition
opportunities with strong cash flow generation and drilling inventories.

“The Mississippi Lime in Woods and Alfalfa counties is a well-delineated
play with an extensive inventory of future drilling locations,” said
Mach CEO Tom Ward. “On a full cycle economics basis, this play competes
with any in the Lower 48, and we are excited to join with a like-minded
partner in Bayou City Energy focusing on projects with strong returns
driven by stable cash flow. We will be an active developer of these
properties from day one led by a team of well-seasoned industry
professionals with extensive experience in the area.”

“This acquisition is an excellent fit for the strategy set out for
BCE-Mach and represents precisely the type of opportunity BCE targets
for its platform company investments,” BCE Managing Partner Will
McMullen said. “We are thrilled to be commencing this partnership in
earnest with a great cash-flowing asset and have the utmost confidence
in the Mach team’s ability to maximize value from this well understood
and infrastructure-advantaged position.”

TD Securities (USA) LLC as Lead Left Arranger & Sole Bookrunner, Capital
One, National Association as Joint Lead Arranger, and Deutsche Bank
Securities Inc. as Joint Lead Arranger assisted in debt financing for
the acquisition. In addition, Kirkland & Ellis, Latham & Watkins, and
McAfee & Taft provided legal counsel.

About Mach Resources LLC

Mach is an independent oil and natural gas producer focused on
acquiring, exploring and developing high-return, low-cost projects.
Founded in January 2017, the company pursues assets with production
history and development opportunity. Mach is located in Oklahoma City,
OK.

For more information about Mach, please visit www.MachResources.com,
call (405) 252-8100 or email [email protected].

About Bayou City Energy Management LLC

BCE is a private equity firm founded in 2015 to focus on making
investments in the North American upstream oil and gas sector. BCE
targets privately negotiated investments through two complementary
strategies: providing buyout and growth equity capital for operated
assets with current production and exploitable upside and partnering
with operators to provide dedicated drilling capital in off-balance
sheet structures. The BCE team, combined with the firm’s Advisory Board
and strategic relationship with Argus Energy Managers, provides
operators access to expertise, capital, and trusted partnership.

For more information about BCE, please visit www.bayoucityenergy.com,
call (713) 400-8200 or email [email protected].

Contacts

for Mach Resources LLC
Lisa Lloyd, 405-973-6960
[email protected]