Matador Resources Company Announces Pricing of Public Offering of Common Stock
October 05 2017 - 6:30AM
Business Wire
Matador Resources Company (NYSE: MTDR) (“Matador”) announced
today that it has priced an underwritten public offering of
8,000,000 shares of its common stock. The total estimated gross
proceeds of the offering, before estimated offering fees and
expenses, are approximately $210.8 million. The offering is
expected to close on October 10, 2017, subject to customary closing
conditions.
Matador intends to use the net proceeds from this offering (i)
to fund the aggregate purchase price for approximately 9,800 gross
(6,600 net) acres in the Delaware Basin in and around its existing
acreage positions, subject to customary due diligence and closing
conditions, (ii) to fund the capital expenditures for a number of
midstream initiatives in the Delaware Basin that are either in
progress or that it expects to begin by the end of the first
quarter of 2018 and (iii) for general corporate purposes, including
to fund a portion of its future capital expenditures.
BMO Capital Markets is acting as book-running manager for the
offering. The underwriters may offer the shares of Matador’s common
stock from time to time for sale in one or more transactions on the
New York Stock Exchange, in the over-the-counter market, through
negotiated transactions or otherwise at market prices prevailing at
the time of sale, at prices related to prevailing market prices or
at negotiated prices.
When available, copies of the preliminary prospectus supplement,
prospectus supplement and accompanying base prospectus relating to
the offering may be obtained free of charge on the Securities and
Exchange Commission’s website at www.sec.gov or by sending a request to:
BMO Capital MarketsAttn: Equity Syndicate Department3 Times
Square, 25th FloorNew York, NY 10036Telephone: (800)
414-3627E-mail: bmoprospectus@bmo.com
The shares of common stock will be offered and sold pursuant to
an effective shelf registration statement on Form S-3 previously
filed with the Securities and Exchange Commission (the “SEC”). This
press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering is being
made only by means of a prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended (the “Securities Act”).
About Matador Resources Company
Matador is an independent energy company engaged in the
exploration, development, production and acquisition of oil and
natural gas resources in the United States, with an emphasis on oil
and natural gas shale and other unconventional plays. Its current
operations are focused primarily on the oil and liquids-rich
portion of 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 shale
and Cotton Valley plays in Northwest Louisiana and East Texas.
Additionally, Matador conducts midstream operations, primarily
through its midstream joint venture, San Mateo Midstream, LLC, in
support of its exploration, development and production operations
and provides natural gas processing, natural gas, oil and salt
water gathering services and salt water disposal services to third
parties on a limited basis.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act, and Section 21E
of the Securities Exchange Act of 1934, as amended.
“Forward-looking statements” are statements related to future, not
past, events. Forward-looking statements are based on current
expectations and include any statement that does not directly
relate to a current or historical fact. In this context,
forward-looking statements often address expected future business
and financial performance, and often contain words such as “could,”
“believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,”
“may,” “should,” “continue,” “plan,” “predict,” “potential,”
“project,” “hypothetical,” “forecasted” and similar expressions
that are intended to identify forward-looking statements, although
not all forward-looking statements contain such identifying words.
Such forward-looking statements include, but are not limited to,
statements about guidance, projected or forecasted financial and
operating results, results in certain basins, objectives, project
timing, expectations and intentions and other statements that are
not historical facts. Actual results and future events could differ
materially from those anticipated in such statements, and such
forward-looking statements may not prove to be accurate. These
forward-looking statements involve certain risks and uncertainties,
including, but not limited to, the following risks related to
financial and operational performance: general economic conditions;
Matador’s ability to execute its business plan, including whether
its drilling program is successful; the ability of Matador’s
midstream joint venture to expand the Black River cryogenic
processing plant, the timing of such expansion and the operating
results thereof; the timing and operating results of the buildout
by the Company’s midstream joint venture of oil, natural gas and
water gathering systems and the drilling of any additional salt
water disposal wells; changes in oil, natural gas and natural gas
liquids prices and the demand for oil, natural gas and natural gas
liquids; its ability to replace reserves and efficiently develop
current reserves; costs of operations; delays and other
difficulties related to producing oil, natural gas and natural gas
liquids; its ability to make acquisitions on economically
acceptable terms; its ability to integrate acquisitions;
availability of sufficient capital to execute its business plan,
including from future cash flows, increases in its borrowing base
and otherwise; weather and environmental conditions; and other
important factors which could cause actual results to differ
materially from those anticipated or implied in the forward-looking
statements. For further discussions of risks and uncertainties, you
should refer to Matador’s filings with the SEC, including the “Risk
Factors” section of Matador’s most recent Annual Report on Form
10-K and any subsequent Quarterly Reports on Form 10-Q. Matador
undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances
occurring after the date of this press release, except as required
by law, including the securities laws of the United States and the
rules and regulations of the SEC. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary
statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20171005005349/en/
Matador Resources CompanyMac Schmitz, 972-371-5225Capital
Markets Coordinatorinvestors@matadorresources.com
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