Matador Resources says San Mateo closes USD 752 million Cardinal Midstream acquisition

Reuters2026/08/03 10:30

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San Mateo Midstream, Matador Resources’ 51%-owned joint venture, closed its USD 752 million cash acquisition of Cardinal Midstream’s operating subsidiaries.
Assets include a Loving County, Texas gas processing complex with 320 MMcf/d inlet capacity and about 145 miles of gathering pipelines.
The deal lifts San Mateo’s designed processing capacity to more than 1 Bcf/d, expanding its northern Delaware Basin gathering footprint to over 800 miles.
Financing included a new USD 650 million term loan due July 2027, cash on hand, and partner capital contributions, including Matador’s USD 51 million.
Cardinal assets are expected to be accretive, with annualized adjusted EBITDA projected to rise to as much as USD 110 million by 2028.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Matador Resources Company published the original content used to generate this news brief via Business Wire (Ref. ID: 202608030630BIZWIRE_USPR_____20260803_BW900404) on August 03, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Matador Resources says San Mateo closes USD 752 million Cardinal Midstream acquisition

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