Matador Resources raises 2026 midstream capital spending forecast to $170 million-$190 million
MTDR•Matador Resources expects 2026 midstream capital spending of $170 million to $190 million, up about $25 million, to fund expansion work. The Marlan expansion is expected to add 300 million cubic feet per day and could generate more than $100 million in adjusted EBITDA by the end of 2029.
1. Spending and expansion plans
Matador Resources expects 2026 midstream capital spending of $170 million to $190 million, up approximately $25 million, to fund expansion work. New long-term producer agreements underpin San Mateo’s Marlan expansion, which is targeted for completion by year-end 2028 and is expected to add 300 million cubic feet per day; total natural gas processing capacity is expected to exceed 1 billion cubic feet per day upon completion.
2. Projected EBITDA
The Marlan expansion could generate more than $100 million in San Mateo adjusted EBITDA by the end of 2029, with immediate capacity utilization. Separately, rising utilization of the acquired Cardinal system is projected to contribute $100 million to $115 million in adjusted EBITDA by 2028.
