Matador Resources Company Announces Contribution of Pronto Midstream, LLC to San Mateo Midstream, LLC
Matador Resources Company (MTDR)
Last matador resources company earnings: 4/29 04:15 pm
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Source: Business Wire
DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that it has executed a definitive agreement whereby Matador would contribute Pronto Midstream, LLC (“Pronto”), Matador’s wholly-owned midstream subsidiary, to San Mateo Midstream, LLC, Matador’s midstream joint venture (“San Mateo”), for a total implied valuation of Pronto of approximately $600 million. At the closing of the transaction, Matador will receive an up-front cash payment of approximately $220 million for the contribution of Pronto to San Mateo. In addition, Matador may earn up to $75 million in incentive payments from Five Point Energy LLC (“Five Point”) as Matador executes its operational plans in northern Lea County, New Mexico over the next five years. San Mateo will continue to be owned 51% by Matador and 49% by an affiliate of Five Point.Matador intends to use the up-front cash payment to repay borrowings outstanding under its revolving credit facility. Following the closin
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News
- Matador Resources (NYSE: MTDR) was upgraded by analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating. They now have a $72.00 price target on the stock.MarketBeat
- Matador Resources (NYSE: MTDR) had its price target raised by analysts at TD Cowen from $74.00 to $75.00. They now have a "buy" rating on the stock.MarketBeat
- Matador Resources Company Successfully Closes Contribution of Pronto Midstream, LLC to San Mateo Midstream, LLCBusiness Wire
- Matador Resources (NYSE: MTDR) had its price target raised by analysts at Wells Fargo & Company from $87.00 to $91.00. They now have an "overweight" rating on the stock.MarketBeat
- Matador Resources (NYSE: MTDR) had its price target lowered by analysts at Mizuho from $74.00 to $73.00. They now have an "outperform" rating on the stock.MarketBeat
MTDR
Earnings
- 10/22/24 - Beat
MTDR
Sec Filings
- 12/17/24 - Form 4
- 12/16/24 - Form 4
- 12/10/24 - Form 4
- MTDR's page on the SEC website