AcquisitionsJul 24, 2026, 07:01 AM
Matador Resources Acquires Paloma Permian for $1.275B
AI Summary
Matador Resources Company announced two strategic acquisitions and successful Woodford exploration well results. A wholly-owned subsidiary will acquire Paloma Permian LLC for $1.275 billion in cash, adding 16,235 net undeveloped acres and 55 million BOE in proved reserves. Matador also acquired acreage from Ridge Runner Resources II, LLC, expanding its Woodford position to approximately 50,000 net acres. Additionally, the company reported initial production rates exceeding 2,200 BOE per day from its Rae’s Creek Woodford well, validating the commercial viability of the formation.
Key Highlights
- Acquiring Paloma Permian LLC for $1.275 billion in cash.
- Paloma Acquisition adds 16,235 net undeveloped acres in Eddy and Lea Counties, New Mexico.
- Paloma Acquisition includes 55 million BOE in total proved oil and natural gas reserves.
- Estimated Q3 2026 production from Paloma assets: 10,600 to 11,600 BOE per day (57% oil).
- Acquired Ridge Runner acreage, expanding Woodford position to approximately 50,000 net acres.
- Rae’s Creek Woodford well initial production: exceeding 2,200 BOE per day (72% oil).
- Combined acquisitions increase Matador's Delaware Basin acreage to approximately 240,000 net acres.
- Anticipates $1 billion in adjusted free cash flow for full-year 2026.
Price Impact
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