Matador Resources closes Paloma Permian acquisition for $1.26 billion
MTDR•Matador Resources closed its cash acquisition of Paloma Permian from EnCap Investments for $1.255 billion, subject to post-closing adjustments. The deal adds about 16,500 net acres, and Matador expects to repay about $350 million to $400 million on its credit facility in the fourth quarter.
1. Acquisition closed
Matador Resources closed its cash acquisition of Paloma Permian from EnCap Investments for $1.255 billion, subject to post-closing adjustments. The portfolio adds about 16,500 net primarily undeveloped acres in Eddy and Lea counties, New Mexico, most held by production, and includes more than 156 net drilling locations across nine targeted benches. Matador expects to drill up to 25 Paloma-related wells by year-end 2027; 59 drilling permits were already in place. The company expects to repay about $350 million to $400 million on its reserves-based lending credit facility in the fourth quarter.
