Matador amends credit agreement, increasing borrowing base by $250M to $2.5B

On October 19, 2023, Matador and its lenders successfully amended the Company’s credit agreement to increase the borrowing base $250 million from $2.25 billion to $2.5 billion, (2) increase the maximum facility amount $500 million from $1.5 billion to $2.0 billion and (3) increase the elected commitment $75 million from $1.25 billion to $1.325 billion, of which only $530 million was drawn as of September 30, 2023. This $75 million increase in the elected commitment marks the second time this year Matador’s banks have increased their commitments as the elected commitment was previously increased $475 million on March 31, 2023 from $775 million to $1.25 billion in connection with Matador’s acquisition of Advance Energy Partners Holdings, LLC. Matador is also pleased to announce that JPMorgan Chase Bank, N.A. is joining the bank group.