Matador Resources Company Closes Ridge Runner Acquisition and Provides Updated Woodford Production and Activity Details
Key Highlights
- ➤Ridge Runner acquisition adds approximately 13,600 net acres to Matador’s Woodford position
- ➤Approximately 50,000 net Woodford acres now acquired at $4,000 per acre average
- ➤Acquisition adds over 150 net operated Woodford locations at approximately $1.3 million each
- ➤Rae’s Creek well averages over 1,000 barrels daily, surpassing 100,000 barrels in 100 days
- ➤Matador targets $350–$400 million in debt repayments by year-end
Expert Statements
Joseph Wm. Foran, Founder, Chairman and CEO of Matador Resources Company
“Matador is excited to close yet another important transaction with EnCap and would like to acknowledge the hard work, dedication and professionalism of the Ridge Runner, EnCap, and Matador teams. Matador has now completed the final transaction of the four catalysts previously identified for 2026. This transaction enhances and strengthens our previously established position in the Woodford play and Delaware Basin inventory base, which now extends over 15 years.”
Joseph Wm. Foran, Founder, Chairman and CEO of Matador Resources Company
“We are pleased to report, in connection with our Woodford catalyst, that our Rae’s Creek Woodford well is estimated to outperform expectations, with results on track to surpass our initial estimated ultimate recoveries (“EUR”) of 800,000 barrels of oil. Encouraged by these results, we plan to drill a second Woodford well this quarter to help delineate the Woodford play as we transition into an active 2027 development schedule. Matador’s 2027 Woodford strategy will emphasize multi-well batch drilling, three-mile lateral lengths, and co-development with adjacent horizons—key initiatives designed to drive capital efficiencies toward our target of 30–40% Woodford well-cost savings.”
Joseph Wm. Foran, Founder, Chairman and CEO of Matador Resources Company
“When we combine the strong results from the Rae’s Creek well, expected capital efficiencies in our 2027 plan, and potential future volumes contributing to Matador’s wholly-owned midstream assets in these areas, we have a very positive outlook about the integration of these assets into Matador’s operating plan and the contributions to Matador’s free cash flow generation and to its planned debt repayments. At present, we expect debt repayments by the end of the year to reach between $350 to $400 million.”
Matador Resources Company Closes Ridge Runner Acquisition and Provides Updated Woodford Production and Activity Details
Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced the closing of its previously announced acquisition of approximately 13,600 net acres, most of which is undeveloped acreage, from Ridge Runner Resources II, LLC (“Ridge Runner” and such acquisition, the “Ridge Runner Acquisition”), a portfolio company of EnCap Investments L.P. (“EnCap”). Highlights of the Ridge Runner Acquisition and Matador’s other acquisitions and well results in the Woodford play include:
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