secwatch.observer — SEC 8-K summary
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Issuer:     Matador Resources Co (MTDR)
CIK:        0001520006
Form:       8-K
Filed at:   2023-01-24T23:59:59+00:00
Accession:  0001193125-23-013640
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1520006/000119312523013640/0001193125-23-013640-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1520006/000119312523013640/d428449d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-013640

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