Matador updates on $1.905B Ameredev acquisition; expects record Q2 2024

Matador Resources Co

All-cash purchase price of $1.905 billion for 33,500 net acres in northern Delaware Basin (82% HBP, >99% operated).
Adds estimated Q3 2024 production of 25,000-26,000 BOE/d (65% oil); PV-10 of $1.46B on proved reserves.
Pro forma: 192K net acres, ~2K net locations, >180K BOE/d, ~580M BOE reserves, EV >$10B.
Closing late Q3 2024; funded via increased credit facility to $2.25B and $250M Term Loan A.
Expects Q2 2024 to be another record quarter; full earnings call later in July.

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