Matador Resources Co. (NYSE: MTDR) has priced an upsized underwritten public offering of 7,500,000 shares of its common stock. The 7,500,000 share offering represents a 50% increase to the originally proposed offering of 5,000,000 shares.
Total estimated proceeds of the offering to Matador, before estimated offering expenses, are $142.4 million. The offering is expected to close on March 11. Matador intends to use the net proceeds from this offering for general corporate purposes, including to fund a portion of its future capital expenditures.
RBC Capital Markets is acting as the sole underwriter of the offering.
Matador’s operations are focused on the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville and Cotton Valley plays in Northwest Louisiana and East Texas.