DALLAS - Matador Resources Company (NYSE: NYSE:MTDR), an independent energy firm, announced today its initiation of a public offering for 5,250,000 shares of common stock. The Dallas-based company, which specializes in oil and natural gas exploration and production, stated the proceeds would be allocated to general corporate purposes.
These may encompass funding acquisitions and repaying borrowings under the company's revolving credit facility.
The offering is being managed by J.P. Morgan and BofA Securities as underwriters. They may sell the shares on the New York Stock Exchange, over-the-counter markets, negotiated transactions, or at market-related prices. The shares are being offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC).
Matador's operations are primarily concentrated in the oil and liquids-rich sectors of the Wolfcamp and Bone Spring plays in the Delaware Basin, located in Southeast New Mexico and West Texas.
The company also operates in the Eagle Ford (NYSE:F) shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. In addition to its exploration and production activities, Matador runs midstream operations that include natural gas processing, oil transportation, and water gathering and disposal services.
The press release contains forward-looking statements regarding Matador's business and financial prospects, which are subject to a variety of risks and uncertainties. These include general economic conditions, operational execution, commodity price fluctuations, and regulatory and governmental approvals.
Matador has made it clear that there is no assurance that the offering will be consummated or that the anticipated use of proceeds will be realized as expected.
Investors interested in the preliminary prospectus supplement or more information about the offering can obtain these documents from the SEC's website or directly from the underwriters.
This news is based on a press release statement from Matador Resources Company.
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