Matador Adds $250M in Core Delaware Basin Acreage, Woodford Well Flows 1,500 BOE/d
MTDR sits 48% above its 52-week low of $37.14.
Summary
Matador Resources announced two bolt-on acquisitions totaling $250 million for 2,000 net acres in the core Delaware Basin, directly offsetting existing positions in Lea and Eddy counties. This follows the $1.143 billion acquisition of 5,154 net acres announced in May, signaling an aggressive consolidation strategy. The company also reported a successful Woodford exploration well with an initial production rate of 1,500 BOE/d, de-risking a new interval. The acquisitions are expected to close in Q3 2026, adding high-quality inventory. With a market cap of $6.8 billion, the $250 million outlay is modest but strategically significant, enhancing the drilling runway. The Woodford result could unlock additional upside across its acreage.
At the time of this announcement, MTDR was trading at $54.82 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.8B. The 52-week trading range was $37.14 to $66.84. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.