Matador Resources Company Announces Amendment to Its Credit Facility and Completion of Natural Gas Pipeline Connections
25 Marzo 2024 - 11:00AM
Business Wire
Matador Resources Company (NYSE: MTDR) (“Matador” or the
“Company”) today announced that Matador and its lenders
successfully amended the Company’s credit agreement to, among other
things, (1) increase the elected commitment from $1.325 billion to
$1.5 billion, (2) increase the maximum facility amount from $2.0
billion to $3.5 billion and (3) extend the maturity date by three
years to 2029. Matador is also pleased to announce that five new
banks joined the credit facility, bringing the total bank group to
19 banks. These new banks are Capital One, N.A., Citizens Bank,
N.A., Mizuho Bank, Ltd., The Toronto-Dominion Bank, New York
Branch, and Wells Fargo Bank, N.A.
Joseph Wm. Foran, Matador’s Founder, Chairman and CEO,
commented, “On behalf of the Board and the management team, we
thank each of our banks for their continued support. We also
welcome the five new banks to our high-quality bank group, which is
led by PNC Bank, N.A., as administrative agent. Matador remains
committed to maintaining a strong balance sheet, growing our
production and maintaining our optionality and capital discipline
while decreasing costs.”
Completion of Natural Gas Pipeline Connections
Matador also announced today the successful completion of
natural gas pipeline connections between Pronto Midstream and San
Mateo and between Pronto Midstream and Matador’s acreage obtained
in the Advance acquisition. These connector pipelines will provide
further flow assurance and options for Matador and third-party
customer natural gas volumes and should contribute to the
resolution of the temporary midstream third-party maintenance
issues experienced in the first quarter of 2024.
“As anticipated during our fourth quarter and year end 2023
earnings call, we are pleased to announce the successful completion
of these pipeline projects, which further strengthen our midstream
infrastructure, enhance our upstream operations and support our
growth objectives in the northern Delaware Basin,” said Mr. Foran.
“Both pipeline additions, which include over 20 miles of natural
gas pipeline, will enable Matador to more effectively gather and
transport natural gas production from the 21 Dagger Lake South
wells, which are expected to be turned-to-sales in the second
quarter of 2024. The natural gas pipeline connection between Pronto
Midstream and San Mateo can flow natural gas in either direction to
optimize market conditions. These natural gas pipeline connections
will assist in the execution of our strategic priorities for our
production, including record Matador production in 2024, as our
guidance has indicated.”
About Matador Resources Company
Matador is an independent energy company engaged in the
exploration, development, production and acquisition of oil and
natural gas resources in the United States, with an emphasis on oil
and natural gas shale and other unconventional plays. Its current
operations are focused primarily on the oil and liquids-rich
portion of the Wolfcamp and Bone Spring plays in the Delaware Basin
in Southeast New Mexico and West Texas. Matador also operates in
the Eagle Ford shale play in South Texas and the Haynesville shale
and Cotton Valley plays in Northwest Louisiana. Additionally,
Matador conducts midstream operations in support of its
exploration, development and production operations and provides
natural gas processing, oil transportation services, natural gas,
oil and produced water gathering services and produced water
disposal services to third parties.
For more information, visit Matador Resources Company at
www.matadorresources.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. “Forward-looking statements” are statements related to
future, not past, events. Forward-looking statements are based on
current expectations and include any statement that does not
directly relate to a current or historical fact. In this context,
forward-looking statements often address expected future business
and financial performance, and often contain words such as “could,”
“believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,”
“may,” “should,” “continue,” “plan,” “predict,” “potential,”
“project,” “hypothetical,” “forecasted” and similar expressions
that are intended to identify forward-looking statements, although
not all forward-looking statements contain such identifying words.
Such forward-looking statements include, but are not limited to,
statements about guidance, projected or forecasted financial and
operating results, future liquidity, the payment of dividends,
results in certain basins, objectives, project timing, expectations
and intentions, regulatory and governmental actions and other
statements that are not historical facts. Actual results and future
events could differ materially from those anticipated in such
statements, and such forward-looking statements may not prove to be
accurate. These forward-looking statements involve certain risks
and uncertainties, including, but not limited to, the following
risks related to financial and operational performance: general
economic conditions; the Company’s ability to execute its business
plan, including whether its drilling program is successful; changes
in oil, natural gas and natural gas liquids prices and the demand
for oil, natural gas and natural gas liquids; its ability to
replace reserves and efficiently develop current reserves; the
operating results of the Company’s midstream oil, natural gas and
water gathering and transportation systems, pipelines and
facilities, the acquiring of third-party business and the drilling
of any additional salt water disposal wells; costs of operations;
delays and other difficulties related to producing oil, natural gas
and natural gas liquids; delays and other difficulties related to
regulatory and governmental approvals and restrictions; impact on
the Company’s operations due to seismic events; its ability to make
acquisitions on economically acceptable terms; its ability to
integrate acquisitions; disruption from the Company’s acquisitions
making it more difficult to maintain business and operational
relationships; significant transaction costs associated with the
Company’s acquisitions; the risk of litigation and/or regulatory
actions related to the Company’s acquisitions; availability of
sufficient capital to execute its business plan, including from
future cash flows, available borrowing capacity under its revolving
credit facilities and otherwise; the operating results of and the
availability of any potential distributions from our joint
ventures; weather and environmental conditions; and the other
factors that could cause actual results to differ materially from
those anticipated or implied in the forward-looking statements. For
further discussions of risks and uncertainties, you should refer to
Matador’s filings with the SEC, including the “Risk Factors”
section of Matador’s most recent Annual Report on Form 10-K and any
subsequent Quarterly Reports on Form 10-Q. Matador undertakes no
obligation to update these forward-looking statements to reflect
events or circumstances occurring after the date of this press
release, except as required by law, including the securities laws
of the United States and the rules and regulations of the SEC. You
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
All forward-looking statements are qualified in their entirety by
this cautionary statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240325081813/en/
Mac Schmitz Vice President – Investor Relations
investors@matadorresources.com (972) 371-5225
Grafico Azioni Matador Resources (NYSE:MTDR)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Matador Resources (NYSE:MTDR)
Storico
Da Lug 2023 a Lug 2024