Matador closes $750M notes offering, reports strong Ameredev integration and production milestone

Matador Resources Co

Closed $750M 6.250% senior notes due 2033; net proceeds used to repay credit facility including $250M term loan, debt neutral.
Integration of $1.832B Ameredev acquisition off to strong start; temporarily produced over 200,000 boe/d for first time.
Expects debt-to-EBITDA ratio of 1.3-1.4x at Sept 30, 2024, and 1.0x or less by mid-2025.
Drilled five additional 'U-Turn' wells in New Mexico with expected savings of $3M per well; first remote trimul-frac saved $1.1M.
Anticipates $160M in operational synergies from Ameredev over five years from drilling, completing, and equipping.

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