Matador Resources Enters Material Definitive Agreement

TL;DR

Matador Resources just signed a big financial deal, filing an 8-K on it.

AI Summary

Matador Resources Company entered into a material definitive agreement on March 22, 2024, related to a direct financial obligation. The company, headquartered in Dallas, Texas, filed this 8-K report on March 25, 2024, detailing the creation of this obligation.

Why It Matters

This filing indicates Matador Resources has entered into a new financial commitment, which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce new risks related to debt covenants, interest rate fluctuations, and repayment capacity.

Key Players & Entities

• Matador Resources Company (company) — Registrant
• March 22, 2024 (date) — Date of Earliest Event Reported
• March 25, 2024 (date) — Date of Report
• Dallas, Texas (location) — Company Headquarters

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MTDR New York Stock Excha
• $2.50 b — ngs, (i) reaffirm the borrowing base at $2.50 billion, (ii) increase the maximum facili
• $2.0 billion — crease the maximum facility amount from $2.0 billion to $3.50 billion, (iii) increase the el
• $3.50 b — um facility amount from $2.0 billion to $3.50 billion, (iii) increase the elected borro
• $1.325 billion — the elected borrowing commitments from $1.325 billion to $1.50 billion, (iv) extend the matur
• $1.50 b — wing commitments from $1.325 billion to $1.50 billion, (iv) extend the maturity date fr
• $570 million — As of March 22, 2024, the Company had $570 million in borrowings outstanding under the Cre
• $41.7 million — the Credit Agreement, and approximately $41.7 million in outstanding letters of credit issued

Filing Documents

• d811227d8k.htm (8-K) — 29KB
• d811227dex101.htm (EX-10.1) — 1383KB
• d811227dex991.htm (EX-99.1) — 11KB
• g811227g0324093229549.jpg (GRAPHIC) — 5KB
• 0001193125-24-075954.txt ( ) — 1815KB
• mtdr-20240322.xsd (EX-101.SCH) — 3KB
• mtdr-20240322_lab.xml (EX-101.LAB) — 18KB
• mtdr-20240322_pre.xml (EX-101.PRE) — 11KB
• d811227d8k_htm.xml (XML) — 4KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Fifth Amendment to Fourth Amended and Restated Credit Agreement, dated as of March 22, 2024, by and among MRC Energy Company, as Borrower, the Lenders party thereto and PNC Bank, National Association, as Administrative Agent for the Lenders. 99.1 Press Release, dated March 25, 2024. 104 Cover Page Interactive Data File, formatted in Inline XBRL (included as Exhibit 101). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATADOR RESOURCES COMPANY Date: March 25, 2024 By: /s/ Bryan A. Erman Name: Bryan A. Erman Title: Executive Vice President

View Full Filing

View this 8-K filing on SEC EDGAR