Matador Resources Co. (NYSE: MTDR) priced a public offer of 7 million common shares, the company said April 16.
Net proceeds of about $189 million will repay outstanding revolving credit facility borrowings, fund part of future capex, and support general capital needs. The future capex includes a third drilling rig in the Permian Basin in the next six to nine months and acquisitions in the Permian, Eagle Ford and Haynesville shales. Proceeds might also reduce other debts or be invested in short-term securities.
The offer is scheduled to close April 21.
RBC Capital Markets is the sole underwriter.
Dallas-based Matador Resources Co. develops and produces domestic oil and natural gas.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.