Matador Resources Announces Strategic Acquisition Of Midstream Assets In Eddy And Lea Counties, New Mexico
Acquiring Company
Matador Resources
Acquired Company
Midstream Assets
DallasEnergyOil And GasNatural ResourcesDescription
Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced that one of its wholly-owned subsidiaries has entered into a definitive agreement with a wholly-owned subsidiary of Summit Midstream Partners, LP (“Summit”) to acquire Summit’s Lane Gathering and Processing System (the “Lane G&P System”) in Eddy and Lea Counties, New Mexico for $75 million, subject to customary transaction adjustments. In connection with the transaction, the Company will assume certain takeaway capacity on the Double E Pipeline, a FERC-regulated natural gas pipeline operated by Summit. The acquisition is subject to customary closing conditions and is expected to close in the second quarter of 2022. A map of the Lane G&P System is included as Annex A to this press release.
Quick answer
Matador Resources is acquiring Midstream Assets, announced June 9, 2022. Matador Resources is based in Dallas, Texas, United States.
- How much did Matador Resources pay for Midstream Assets?
- The deal value was not disclosed.
- What does Matador Resources do?
- Matador Resources is an oil and natural gas company focused on the exploration, production, and acquisition of assets in the Delaware Basin.
- Where are Matador Resources and Midstream Assets based?
- Matador Resources is based in Dallas, Texas, United States.
- Who are the decision-makers at Matador Resources?
- Fundz holds 1 contact at Matador Resources. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Midstream Assets?
Midstream Assets was acquired by Matador Resources, based in Dallas. The deal was reported on June 9, 2022. Matador Resources is an oil and natural gas company focused on the exploration, production, and acquisition of assets in the Delaware Basin. Matador Resources is publicly traded (MTDR) and operates in Energy.
When did Matador Resources acquire Midstream Assets?
Matador Resources's acquisition of Midstream Assets was reported on June 9, 2022. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Midstream Assets do?
Midstream Assets is the company acquired in this transaction. It is privately held.
This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.
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