Current MTDR Stock Info

Matador Resources Company (ticker: MTDR) priced an underwritten public offering of 8,000,000 shares of its common stock. The total estimated gross proceeds of the offering, before estimated offering fees and expenses, are approximately $210.8 million. The offering is expected to close on October 10, 2017.

Matador said it intends to use the net proceeds from the offering:

  • to fund the aggregate purchase price for approximately 9,800 gross (6,600 net) acres in the Delaware Basin in and around its existing acreage positions, subject to customary due diligence and closing conditions;
  • to fund the capital expenditures for a number of midstream initiatives in the Delaware Basin that are either in progress or that it expects to begin by the end of the first quarter of 2018; and
  • for general corporate purposes, including to fund a portion of its future capital expenditures.
Matador Resources Prices $210 Million Common Stock Offering to Further Grow Delaware Basin Ops

Matador Resources’ Delaware Basin Operations. Source: Matador Sept. investor presentation

BMO Capital Markets is acting as book-running manager for the offering.

Matador’s current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.

Matador Resources Prices $210 Million Common Stock Offering to Further Grow Delaware Basin Ops

Source: Matador Resources Sept. investor presentation

Matador also operates in the Eagle Ford, the Haynesville shale and the Cotton Valley play in Northwest Louisiana and East Texas. Its midstream JV San Mateo Midstream, LLC, supports Matador’s exploration, development and production operations and provides natural gas processing, natural gas, oil and salt water gathering services and salt water disposal services to third parties, the company said.



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