- Matador Resources (NYSE:MTDR) announces a 5M-share public offering and a private placement of $150M in aggregate principal amount of 6.875% senior notes due 2023.
- Matador says it plans to use the proceeds from the offerings to fund the purchase of ~4,600 net leasehold acres and estimated current net production of ~1,150 boe/day from New Mexico wells, to fund the capex for midstream initiatives in the Delaware Basin, to pay down its revolving credit facility, and for general corporate purposes, including capex associated with the addition of a fourth drilling rig.
- The notes are offered in addition to an existing $400M aggregate principal amount of 6.875% senior notes due 2023 issued in a private placement in April 2015.