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The Dow Jones Industrial Average fell 444.23 points Friday, or 1%, to close at 44,303.40.
The S&P 500 dropped 57.58 points, or 0.9%, to finish at 6,025.99.
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All three major U.S. equities benchmarks had weekly losses, with the Dow falling 0.5%, the S&P 500 shedding 0.2% and the Nasdaq retreating 0.5%.
Last week, Mach closed Jan. 31 on its $29.8 million purchase of oil and gas assets—the so-called Flycatcher assets—located near the Ardmore Basins assets Mach bought last year. The effective date is Oct. 1, 2024.
The Flycatcher acquisition includes total proved reserves of 9.6 MMBoe with total PV-10 of $67.3 million as of Dec. 31 based on strip pricing as of Jan. 15; based on Securities and Exchange Commission pricing, the total proved reserves were recorded at 9.6 MMBoe as of Dec. 31 with total PV-10 of $63.6 million.
The total proved reserves mix is 60% liquids and 40% natural gas. The acquisition boosted Mach’s total leasehold and mineral acreage to 1,046,662 net acres.
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