MTDR•Matador Resources closed its acquisition of about 13,600 net acres, largely undeveloped, from Ridge Runner Resources II. The deal adds more than 150 net operated drilling locations and expands Matador’s Woodford position to about 50,000 net acres.
The acquisition expands Matador’s core Woodford position to about 50,000 net acres across prior acquisitions, at an average of $4,000 per acre. It adds more than 150 net operated Woodford drilling locations, normalized to two-mile laterals, at about $1.3 million per location.
Matador’s Woodford development plan calls for a second well in the fourth quarter of 2026 and targets up to 15 wells by the end of 2027. The company forecast year-end debt repayments of $350 million to $400 million.
