Matador begins public offering of common stock

Matador Resources Co. (NYSE: MTDR) has begun an underwritten public offering of 7,000,000 shares of its common stock.

Matador intends to use the net proceeds from this offering to repay outstanding borrowings under its revolving credit facility, to fund a portion of its future capital expenditures, including the possible addition of a third drilling rig in the Permian Basin in the next six to nine months and targeted acquisitions of additional acreage in the Permian Basin, as well as in the Eagle Ford and Haynesville shale plays, and for other general working capital needs. Pending such uses, Matador intends to invest the funds in short-term marketable securities or apply them to the reduction of other short-term indebtedness.

RBC Capital Markets is acting as the sole underwriter of the offering.

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