Each one in plain English, with the numbers worked through for a shareholder.
24 July 2026material agreement▲ GoodMajor
Matador agreed to buy Paloma Permian for $1.275 billion cash -- its third billion-dollar-plus Delaware Basin acquisition in under four years -- adding producing properties and undeveloped acreage in Eddy and Lea Counties, New Mexico, with the deal backed by a representation-and-warranty insurance policy in place of seller indemnities.
Matador priced a $750 million offering of 6.000% senior notes due 2034 at par, with about $736.5 million of expected net proceeds. It planned to use them to tender for all $500 million of its 6.875% 2028 notes and repay credit facility borrowings.
Matador's credit facility was amended to remove a 0.10% SOFR credit-spread adjustment (a small effective rate cut) while reaffirming the $3.25 billion borrowing base and $2.25 billion elected commitment.
Matador raised its fixed dividend 20%, to $0.375 per share per quarter ($1.50 a year, up from $1.25), starting in the fourth quarter of 2025. The CEO called it the seventh increase in four years.
Matador declared a quarterly cash dividend of $0.3125 per share, payable June 6, 2025 to shareholders of record as of May 9, 2025, under the dividend policy the board adopted in February 2025.
Matador raised its dividend to $0.25 per share ($1.00/year), the first increase since the 33% raise a year earlier -- continued growth in shareholder returns alongside its acquisition-driven expansion.
Matador closed the Ameredev Stateline II acquisition for an adjusted $1.832 billion, funded in part by drawing the full $250 million new term loan and expanding its revolver commitment to $2.25 billion -- total borrowings under the credit facility reached $1.865 billion.
Matador agreed to buy Ameredev Stateline II for $1.905 billion cash -- its second blockbuster Delaware Basin deal in under 18 months -- adding producing properties and undeveloped acreage in Lea County, New Mexico and Loving/Winkler Counties, Texas, plus a roughly 19% stake in Pinon Midstream, LLC. To help fund it, Matador lined up a new $250 million term loan and an increase in its revolver commitment to $2.25 billion.
Matador's tender offer for its 5.875% 2026 notes expired with about $556.3 million (roughly 80%) tendered, and it closed the $900 million 6.500% 2032 notes sale. It planned to redeem the remaining 2026 notes on September 15, 2024.
Matador sold 5,250,000 shares of common stock in an underwritten public offering, with the underwriters buying at $65.65 per share. The offering closed on March 28, 2024.
Matador amended its credit facility, raising the maximum facility amount from $2.0 billion to $3.5 billion and elected commitments from $1.325 billion to $1.5 billion, and extending maturity to March 2029. The $2.5 billion borrowing base was reaffirmed and PNC Bank replaced Truist as administrative agent.
Matador again expanded its credit facility (borrowing base to $2.5 billion, maximum facility to $2.0 billion, elected commitment to $1.325 billion) and, in the same announcement, raised its dividend 33% to $0.20 per share -- continued balance-sheet growth alongside returning more cash to shareholders.
Matador closed the Advance Energy Partners acquisition on April 12, 2023, paying an as-adjusted cash price of about $1.598 billion, subject to post-closing adjustments. It may owe $7.5 million for each 2023 month when WTI averages above $85.
Matador closed the $500 million 6.875% senior notes due 2028, receiving net proceeds of $487.6 million. The notes mature April 15, 2028, are guaranteed by subsidiaries, and holders can require repurchase at 101% on a change of control.
Matador priced a private offering of $500 million of 6.875% senior unsecured notes due 2028, upsized from the previously announced $400 million. Net proceeds of about $487.6 million are intended for general corporate purposes.
Ahead of closing the Advance Energy Partners deal, Matador expanded its credit facility (elected commitment from $775 million to $1.25 billion, borrowing base reaffirmed at $2.25 billion) and switched administrative agents from Royal Bank of Canada to Truist Bank; it also announced plans for a $400 million private notes offering.