Matador Resources Company Announces Successful Closing of San Mateo’s Acquisition of Cardinal Midstream
Matador Resources' 51%-owned joint venture, San Mateo Midstream, completed its $752 million acquisition of Cardinal Midstream's operating subsidiaries. The deal adds 320 MMcf/d of natural gas processing capacity and 145 miles of pipelines, increasing San Mateo's total processing capacity to over 1 Bcf/d in the northern Delaware Basin.
Key figures
- Deal Value Usd
- 752000000
- Term loan
- $650 million
- Ebitda target
- $110 million
- Pipeline miles
- 800 miles
- Processing capacity
- 1 billion cubic feet per day
- Matador contribution
- $51 million
AI analysis
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