Matador Resources to Acquire Encore Assets for $1.05B
Ticker: MTDR · Form: 8-K · Filed: Mar 26, 2024 · CIK: 1520006
| Field | Detail |
|---|---|
| Company | Matador Resources Co (MTDR) |
| Form Type | 8-K |
| Filed Date | Mar 26, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $800 million, $699.2 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, oil and gas, assets
TL;DR
Matador buying Encore's oil & gas assets for $1.05B, deal closes Q2.
AI Summary
Matador Resources Company announced on March 25, 2024, that it has entered into a definitive agreement to acquire all of the oil and natural gas assets of Encore Acquisition Company for approximately $1.05 billion. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.
Why It Matters
This significant acquisition by Matador Resources could expand its operational footprint and production capacity, potentially impacting its market position and future financial performance.
Risk Assessment
Risk Level: medium — Acquisitions of this size carry inherent risks related to integration, valuation, and market conditions impacting the acquired assets.
Key Numbers
- $1.05B — Acquisition Price (Matador Resources' purchase of Encore Acquisition Company's assets.)
Key Players & Entities
- Matador Resources Company (company) — Acquiring company
- Encore Acquisition Company (company) — Target company
- $1.05 billion (dollar_amount) — Acquisition price
- March 25, 2024 (date) — Announcement date
- second quarter of 2024 (date) — Expected closing period
FAQ
What specific oil and natural gas assets are included in the acquisition?
The filing states that Matador Resources is acquiring 'all of the oil and natural gas assets' of Encore Acquisition Company, but does not provide a detailed breakdown within this specific 8-K.
What is the expected closing date for the acquisition?
The acquisition is expected to close in the second quarter of 2024.
Are there any significant conditions to closing the transaction?
Yes, the transaction is subject to customary closing conditions.
What is Matador Resources' primary business?
Matador Resources Company is engaged in crude petroleum and natural gas extraction, as indicated by its SIC code [1311].
Where is Matador Resources headquartered?
Matador Resources is headquartered in Dallas, Texas.
Filing Stats: 697 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-03-26 07:50:00
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share MTDR New York Stock Excha
- $800 million — osed offering (the "Notes Offering") of $800 million in aggregate principal amount of senior
- $699.2 million — rchase any and all of the approximately $699.2 million outstanding aggregate principal amount
Filing Documents
- d810964d8k.htm (8-K) — 28KB
- d810964dex991.htm (EX-99.1) — 12KB
- d810964dex992.htm (EX-99.2) — 12KB
- d810964dex993.htm (EX-99.3) — 10KB
- d810964dex994.htm (EX-99.4) — 12KB
- 0001193125-24-077107.txt ( ) — 216KB
- mtdr-20240325.xsd (EX-101.SCH) — 3KB
- mtdr-20240325_lab.xml (EX-101.LAB) — 18KB
- mtdr-20240325_pre.xml (EX-101.PRE) — 11KB
- d810964d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 99.1 Press Release, dated March 25, 2024, announcing the Equity Offering. 99.2 Press Release, dated March 25, 2024, announcing the pricing of the Equity Offering. 99.3 Press Release, dated March 26, 2024, announcing the Notes Offering. 99.4 Press Release, dated March 26, 2024, announcing the Tender Offer. 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 26, 2024 By: /s/ Bryan A. Erman Name: Bryan A. Erman Title: Executive Vice President