Matador Resources to offer 8.5M common shares

|About: Matador Resources (MTDR)|By:, SA News Editor

Matador Resources (MTDR) commences an 8.5M-share public offering of common stock.

MTDR says it intends to use the net proceeds primarily to fund part of its capital expenditures, including the addition of a third rig to its current two-rig drilling program, allowing operation of two rigs in the Eagle Ford shale play and one for the exploration and development of its acreage in the Wolfcamp and Bone Spring plays in the Permian Basin.