Matador Resources gains on $1.3 billion acquisition of Paloma Permian

Matador Resources

23/07/2026 11:43

** Shares of oil and gas company Matador Resources MTDR.N rise 1% to $55.56 premarket
** MTDR says it will acquire privately held Paloma Permian LLC from EnCap Investments for about $1.28 billion in cash
** Deal gives MTDR 16,235 net undeveloped acres in Eddy and Lea counties in New Mexico
** Deal also gives MTDR oil and gas properties producing about 11,100 barrels of oil equivalent per day, around 57% of which is oil
** Separately, MTDR agrees to acquire primarily undeveloped acreage in Woodford play from another EnCap-backed company, Ridge Runner Resources II
** As of last close, stock up 29.57% YTD


 (Reporting by Pranav Mathur in Bengaluru)
 ((Pranav.Mathur@thomsonreuters.com;))