Matador Closes Ridge Runner Acquisition, Guides $350M-$400M Debt Paydown
MTDR sits 47% above its 52-week low of $37.14.
Summary
Matador Resources closed its Ridge Runner acquisition, adding to its Delaware Basin position. The company also provided updated Woodford production and activity details, and expects to repay $350 million to $400 million of debt by year-end. This follows the $1.255 billion Paloma Permian acquisition closed on October 1, and the $250 million bolt-on acquisitions announced in July. The debt repayment guidance signals strong cash flow and a focus on balance sheet strength. The updated Woodford details may provide new production visibility for that asset.
At the time of this announcement, MTDR was trading at $54.48 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.7B. 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 7 out of 10. Source: Reuters.