Matador Resources Subsidiary Agrees To Acquire Paloma Permian For Cash Payment Of $1.275B

Matador Resources Company (NYSE: MTDR ) ("Matador" or the "Company") announced today two of its catalysts for this year.

First, a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire Paloma Permian LLC ("Paloma"), a portfolio company of EnCap Investments L.P. ("EnCap"), including certain proved undeveloped acreage and oil and natural gas producing properties located in Southeast New Mexico (the "Paloma Acquisition").

Subject to customary closing adjustments, the consideration for the Paloma Acquisition will consist of a cash payment of $1.275 billion.

The Paloma Acquisition includes 16,235 net undeveloped acres in Eddy and Lea Counties, New Mexico and third quarter estimated production of approximately 11,100 barrels of oil equivalent ("BOE") per day (57% oil).

The Paloma Acquisition is expected to close in the fourth quarter of 2026.

Secondly, Matador agreed to acquire primarily undeveloped acreage in what it believes to be the heart of the Woodford play in West Texas and Southeast New Mexico from Ridge Runner Resources II, LLC ("Ridge Runner"), another portfolio company of EnCap (the "Ridge Runner Acquisition").

As a result of the Ridge Runner Acquisition, prior acreage additions and Matador’s ongoing "brick-by-brick" land strategy, Matador will have acquired approximately 50,000 contiguous, undeveloped net acres in the Woodford formation, primarily located in its Antelope Ridge asset area in Lea County, New Mexico and in West Texas.

These additional contiguous net acres, together with the Paloma Acquisition, will bring Matador’s corporate acreage total to approximately 240,000 net acres in the Delaware Basin.