Matador Resources rises on $752 million Cardinal Midstream assets deal

Matador Resources

29/06/2026 14:52

** Shares of oil and gas company Matador Resources MTDR.N rise 1.5% to $50.64
** Matador's midstream joint venture, San Mateo Midstream, to acquire the operating units of Cardinal Midstream Partners for $752 million in cash
** Cardinal's assets include a cryogenic natgas processing complex in Loving County, Texas and roughly 145 miles of gathering pipelines across West Texas and southern Eddy County, New Mexico
** Deal is expected to increase San Mateo's designed natural gas processing capacity to more than 1 billion cubic feet per day and expand its gathering systems to over 800 miles of pipeline
** Transaction is expected to close on or before July 31
** Including session's moves, stock up 19.6% YTD

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))