Matador Resources closed its $1.255 billion acquisition of Paloma Permian on Oct. 1, adding more than 156 net drilling locations and about 16,500 net acres in Eddy and Lea counties, New Mexico.
The company said Paloma brings 59 approved drilling permits and acreage across nine or more potential targeted benches. Matador expects to begin drilling up to 25 wells tied to the Paloma acreage by year-end 2027.
Matador said the acquired assets include producing wells that have been running about 10% ahead of its underwriting estimates since June 1, 2026, helped by newer wells in Eddy County.
With Paloma now closed and the separately announced Ridge Runner acquisition expected to close later in October, Matador said it will have about 240,000 net acres in the core of the Delaware Basin in the fourth quarter of 2026. That would be nearly 20% above its October 2025 acreage base of 203,000 net acres.
The company also said it expects to pay down its reserves-based lending facility by about $350 million to $400 million after the fourth-quarter closings, depending on commodity prices. Today the company's shares have moved 1.02% to a price of $53.50. For the full picture, make sure to review Matador Resources Co's 8-K report.
