Matador Resources Co 8K

Matador Resources Company announced definitive agreements to acquire Paloma Permian LLC for $1.275 billion and additional Woodford acreage from Ridge Runner Resources II, LLC, significantly expanding its Delaware Basin position and highlighting strong Woodford test well results, to be funded with cash and its RBL facility with an intent to rapidly de-lever post-closing.

On July 23, 2026, Matador Resources Company announced that a wholly owned subsidiary entered into a definitive agreement to acquire Paloma Permian LLC, a portfolio company of EnCap Investments L.P., for approximately $1.275 billion in cash, adding 16,235 net undeveloped acres, significant proved reserves, and 2026 production in Eddy and Lea Counties, New Mexico, with closing expected in the fourth quarter of 2026. Matador also agreed to acquire primarily undeveloped Woodford formation acreage from Ridge Runner Resources II, LLC, another EnCap portfolio company, which, together with prior additions, will give Matador roughly 50,000 contiguous undeveloped net Woodford acres and increase its total Delaware Basin position to about 240,000 net acres. The company highlighted strong initial results from its Raes Creek Woodford exploratory well in Southeast Lea County, New Mexico, which tested over 2,200 BOE/d on a 24-hour basis and is outperforming average Woodford wells in Texas, reinforcing the commercial viability of its Woodford acreage. Matador plans to fund the Paloma and Ridge Runner acquisitions with cash on hand and borrowings under its reserve-based lending facility, expects about $1 billion in adjusted free cash flow for full-year 2026, and anticipates using incremental cash flow from the acquired properties to quickly reduce leverage to around 1.0x within 12 to 18 months after closing.

Filing Facts

CIK

1520006

Ticker

-

Form

8K

Source Type

sec

Accession

0001104659-26-086469

Alert Tier

8