Matador receives ~$113M from sale of Pinon Midstream

Enterprise Products Partners L.P. (EPD) announced that it had completed its acquisition of Pinon Midstream. Matador Resources (MTDR) announced it had received its share of the sales proceeds, or approximately $113M, for Matador’s approximate 19% ownership interest in the parent company of Pinon. Joseph Wm. Foran, Matador’s Founder, Chairman and CEO, commented, “Congratulations to the Enterprise team on a smooth and successful transaction. We were pleased to have acquired an approximate 19% ownership interest in the parent company of Pinon in connection with our recent Ameredev acquisition that closed in September 2024. We look forward to working with Enterprise going forward as we develop our assets in southern Lea County, New Mexico. We plan to use the approximate $113 million in sales proceeds to pay down our $980 million in current outstanding borrowings under our $2.25 billion credit facility.”