One-Page Deal Sheet
Matador Acquires PE-backed Advance Energy For $1.6 Billion
Matador Resources Company Advance Energy Partners
Announced Date
January 24,2023
Effective Date
January 01,2023
Close Date
April 12,2023
Transaction Type
Corporate
Enterprise Value (EV)($MM)
1600
Asset/Basin:
["Delaware Basin", "Permian Basin"]
TargetZones:
["Wolfcamp", "Wolfca
Net Acres
% Oil:
Net Operated Locations:
Proved Reserves
PDP PV-10 ($MM)
PV-10 ($MM)
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
New Mexico
County
Lea
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Residual Metrics Residual Value
Transaction Details: Require Private Equity Subscription
Matador said it is acquiring hEnCap-backed Advance Energy Partners Holdings, LLC located in Lea County, New Mexico and Ward County, Texas. The deal is valued at $1.6 billion plus $7.5 million each month for the remainder of 2023, if price is above $85.
Transaction Highlights.
Land/Acreage : 18,500
HBP 99%
Production :24.5mboe/d (74%oil)
Net Locations : 203 (85% operated)
Average Lateral = 9,400
Price : $1.6 Billion
Proved Reserves = 106MMboe
Joseph Wm. Foran, Matador’s Founder, Chairman and CEO, commented, “Matador is very excited by this strategic bolt-on opportunity as well as the…
Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
-  |
- |
Click here | Texas | E&P |
| Sep-02-2025 |
- |
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| May-07-2025 |
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Click here | New Mexico | E&P |
| May-03-2025 |
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| Nov-13-2024 |
- |
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Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-02-2026 | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank | - |
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| Nov-03-2025 | SM Energy, Civitas Strike $12.8B All-Stock Merger | - |
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| Sep-02-2025 | Crescent Energy Acquires Vital | - |
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