Matador Resources Company has announced its intention to offer $750 million of senior unsecured notes due 2033 in a private placement to eligible purchasers. The company plans to use the net proceeds from the offering to repay borrowings outstanding under its credit facility, including $250 million in outstanding borrowings under its term loan.
Matador Resources Company is an independent energy company engaged in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in southeast New Mexico and west Texas. Additionally, the company operates in the Eagle Ford shale play in south Texas and the Haynesville shale and Cotton Valley plays in northwest Louisiana. Matador also conducts midstream operations in support of its exploration, development, and production operations and provides natural gas processing, oil transportation services, oil, natural gas, and produced water gathering services, and produced water disposal services to third parties.
The notes and related guarantees have not been registered under the Securities Act of 1933, as amended, or the applicable securities laws of any state or other jurisdiction. The offering is subject to market conditions, and the notes may not be offered, transferred, or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and the applicable securities laws of any state or other jurisdiction.
This press release is being issued pursuant to Rule 135c under the Securities Act and is neither an offer to sell nor a solicitation of an offer to buy any security, including the notes. There shall be no sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. As a result of these announcements, the company's shares have moved 1.0% on the market, and are now trading at a price of $52.2. For the full picture, make sure to review Matador Resources's 8-K report.
