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Matador Resources ( (MTDR) ) has issued an update.
Matador Resources Company announced the successful closing of a private offering of $750 million in 6.250% senior unsecured notes due 2033, using the proceeds to achieve a debt-neutral position by repaying existing credit facility borrowings. This strategic move, which followed the largest acquisition in Matador’s history, is expected to save approximately $1 million in monthly interest expenses for the remainder of 2024. Additionally, Matador plans to enhance operational efficiencies through the integration of new assets, aiming for a debt-to-EBITDA ratio of 1.0 or less in the following year. The company continues to pioneer innovations in the Delaware Basin, improving cost and operational effectiveness with new drilling and completion techniques.
See more insights into MTDR stock on TipRanks’ Stock Analysis page.
