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Matador to Buy Permian Oil Assets From EnCap for $1.9 Billion


These translations are done via Google Translate
Vice President Mike Pence Visits Permian Basin Oil Field And Diamondback Oil Rig
Photographer: Callaghan O’Hare/Bloomberg
Photographer: Callaghan O’Hare/Bloomberg

Oil producer Matador Resources Co. agreed to buy assets in the Permian Basin from a portfolio company of EnCap Investments LP for $1.9 billion in cash, the latest in a series of shale industry tie-ups.

The deal includes oil and gas producing properties and undeveloped acreage in New Mexico and West Texas owned by Ameredev II Parent LLC, Matador said Wednesday in a statement. It also includes a 19% stake in Piñon Midstream LLC, which has pipeline and compression assets in New Mexico.

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The acquisition, which is expected to close late in the third quarter, is among a wave of deals across the shale patch in the past year. With US shale output likely to peak sometime in the 2030s, producers are keen to capture core acreage in the Permian and other basins to extend their runway of drilling locations.



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