Matador Expands Delaware Basin With $1.28 Billion Paloma Acquisition
Matador Resources is acquiring Paloma Permian for $1.275 billion, expanding its Delaware Basin position while reporting encouraging results from its first commercial Woodford test well.
Quick take
Read original at Yahoo Finance Matador Resources has agreed to acquire Paloma Permian LLC for $1.275 billion, expanding its Delaware Basin footprint with 16,235 net undeveloped acres. The deal adds 55 million BOE of proved reserves and 156 net drilling locations, primarily targeting the Bone Spring and Wolfcamp formations. Matador's Delaware Basin holdings will increase to approximately 240,000 net acres.
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