secwatch.observer — SEC 8-K summary
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Issuer:     Matador Resources Co (MTDR)
CIK:        0001520006
Form:       8-K
Filed at:   2024-06-12T23:59:59+00:00
Accession:  0001104659-24-070829
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Matador acquires Ameredev Delaware Basin assets for $1.905B cash, close expected late Q3 2024
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- Cash consideration $1.905B, subject to customary adjustments; closing expected late Q3 2024 with effective date June 1, 2024.
- Adds ~33,500 net acres in Delaware Basin, estimated production 25-26k BOE/d (65% oil), and 371 net operated locations.
- Pro forma combined company expects over 580M BOE proved reserves and enterprise value over $10B.
- Ameredev assets estimated to generate forward one-year Adj. EBITDA $425-475M; purchase price multiple ~4.2x upstream assets.
- Financing via $250M term loan and credit facility increase to $2.25B; pro forma leverage ~1.3x at close, below 1.0x by mid-2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1520006/000110465924070829/0001104659-24-070829-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1520006/000110465924070829/tm2417025d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-070829

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