---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-013640"
form_type: "8-K"
ticker: "MTDR"
cik: "0001520006"
company_name: "Matador Resources Co"
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T10:44:31.124725+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Matador acquires Advance Energy Partners in $1.6B Delaware Basin bolt-on

## Summary
- Initial cash consideration $1.6B, plus contingent $7.5M/month if WTI avg >$85/bbl in 2023.
- Acquires 18,500 net acres in Lea County, NM & Ward County, TX; production ~25k BOE/d (74% oil).
- Estimated proved reserves 106.4 MMBOE; PV-10 $2.86B at SEC pricing, $1.92B at strip.
- Forward 1-yr Adj. EBITDA $475-525M; purchase multiple ~3.2x; leverage expected <1.0x.
- Closing expected early Q2 2023; borrowing base increased to $2.25B.

## SEC filing metadata
- accession: 0001193125-23-013640
- form_type: 8-K
- ticker: MTDR
- cik: 0001520006
- company_name: Matador Resources Co
- filed_at: 2023-01-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1520006/000119312523013640/0001193125-23-013640-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1520006/000119312523013640/d428449d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-013640
- JSON: https://secwatch.observer/filing/0001193125-23-013640.json
- Plain text: https://secwatch.observer/filing/0001193125-23-013640.txt

## Key facts
- Material Agreements
  Matador Resources Co entered into Purchase Agreement with AEP EnCap HoldCo, LLC and Ameradvance Management LLC valued at $1,600,000,000 (effective 2023-01-24).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: AEP EnCap HoldCo, LLC and Ameradvance Management LLC
  - Value: $1,600,000,000
  - Effective: 2023-01-24
  source text: On January 24, 2023, wholly-owned subsidiaries of Matador Resources Company (“ Matador ”), MRC Hat Mesa, LLC (“ Purchaser ”) and, solely for the purposes of guaranteeing the obligations of Purchaser, MRC Energy Company (“ MRC Energy ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with AEP EnCap HoldCo, LLC (“ AEP EnCap ”), Ameradvance Management LLC (“ ManagementCo ” and, together with AEP EnCap, each a “ Seller ” and collectively, the “ Sellers ”) and Advance Energy Partners Holdings, LLC (the “ Target ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1520006/000119312523013640/0001193125-23-013640-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.