Matador Resources Acquires Paloma Permian

San Mateo Midstream (Matador and Five Point) Acquires Cardinal Midstream

August 4, 2026

Industrial Services

San Mateo Midstream, a joint venture between Matador Resources and Five Point Infrastructure, completed its $752 million acquisition of the operating subsidiaries of Cardinal Midstream Partners. The deal expands San Mateo’s integrated natural gas gathering and processing footprint across the northern Delaware Basin, adding processing capacity exceeding 1 Bcf/d and more than 800 miles of gathering pipelines.

Matador Resources to Acquire Ridge Runner Resources II, LLC (EnCap Portfolio)

July 23, 2026

Oil & Gas

In a separate transaction, Matador agreed to acquire primarily undeveloped Woodford acreage from Ridge Runner Resources II, LLC, another EnCap portfolio company. The deal is intended to expand Matador’s contiguous Woodford acreage position in the Delaware Basin and add additional drilling locations and reserves.

Matador Resources to Acquire Paloma Permian LLC from EnCap Investments

July 23, 2026

Oil & Gas

Matador Resources announced a definitive agreement to acquire Paloma Permian LLC, a portfolio company of EnCap Investments, for $1.275 billion in cash. The acquisition is expected to close in Q4 2026 and adds large Woodford acreage in Eddy and Lea Counties, New Mexico.

Matador Resources Acquires Ameredev Subsidiary in Delaware Basin

June 12, 2024

Energy

Matador Resources Company agreed to acquire a subsidiary of Ameredev II Parent, LLC (Ameredev) — including producing oil and gas properties and ~33,500 net contiguous acres in the Delaware Basin — for approximately $1.83–1.905 billion in cash (subject to adjustments). The transaction adds material production (~25,000–26,500 BOE/d), ~118 million BOE of proved reserves and an approximate 19% stake in Piñon Midstream, expanding Matador's Delaware Basin footprint and midstream exposure.

Matador Resources Acquires Advance Energy Partners from EnCap

January 24, 2023

Energy

Matador Resources Company agreed to acquire Advance Energy Partners Holdings, LLC — an EnCap-backed oil and natural gas producer with acreage and producing properties in the northern Delaware Basin — for an initial cash consideration of approximately $1.6 billion plus potential contingent payments tied to 2023 oil prices. The bolt‑on acquisition adds ~18,500 net acres (99% held by production), material near-term production and a large inventory of drilling locations, and provides midstream synergy opportunities with Matador’s Pronto Midstream subsidiary.

Laredo Petroleum Acquires Sabalo Energy Assets for $715M

May 9, 2021

Oil & Gas

Laredo Petroleum (NYSE: LPI) signed a purchase and sale agreement to acquire the assets of Sabalo Energy, a portfolio company of EnCap Investments, for approximately $715 million in cash and stock. Concurrently, Laredo sold 37.5% of certain operated PDP reserves in its Legacy leasehold to an affiliate of Sixth Street Partners for $405 million to help fund the acquisition and deleverage the balance sheet.