Matador Initiates Stock Offering to Fund Permian Rig Addition
Matador Resources Company has commenced an underwritten public offering of 7,000,000 shares of its common stock.
At a stock price of ~$27.13, total proceeds will be ~$189.9 million.
Matador intends to use the net proceeds from this offering to repay outstanding borrowings under its revolving credit facility, to fund a portion of its future capital expenditures, including the possible addition of a third drilling rig in the Permian Basin in the next six to nine months and targeted acquisitions of additional acreage in the Permian Basin, as well as in the Eagle Ford shale and the Haynesville shale, and for other general working capital needs. Pending such uses, Matador intends to invest the funds in short-term marketable securities or apply them to the reduction of other short-term indebtedness.
RBC Capital Markets is acting as the sole underwriter of the offering.
/Book Runner
Permian Related Financings
| Announced Date | Title | Company | Value($MM) | Financing Type |
|---|---|---|---|---|
| 2021-11-17 | Northern Oil Offers ~$230MM in Stock to Fund Permian Deal | Northern Oil and Gas, Inc. | 230 | Equity-Stock-Sales |
| 2021-06-30 | Riley Exploration Permian Prices $50MM Stock Offering | Riley Exploration Permian Inc. | 50 | Equity-Stock-Sales |
| 2018-04-19 | Torchlights Taps Equity Markets for $5.4 Million | Torchlight Energy Resources, Inc. | 5.37 | Equity-Stock-Sales |
| 2018-02-23 | Ring Energy Taps Equity Markets for $75MM | Ring Energy Inc. | 75 | Equity-Stock-Sales |