Matador Resources Company Announces Contribution of Pronto Midstream, LLC to San Mateo Midstream, LLC
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Matador Resources Company (NYSE: MTDR) announced the contribution of its wholly-owned subsidiary, Pronto Midstream, LLC, to its joint venture, San Mateo Midstream, LLC, with an implied valuation of $600 million. Matador will receive an up-front cash payment of $220 million.
December 05, 2024 | 12:00 pm
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Matador Resources is contributing its subsidiary, Pronto Midstream, to its joint venture, San Mateo Midstream, for a $600 million valuation, receiving $220 million in cash.
The transaction enhances Matador's liquidity with a $220 million cash inflow and potentially strengthens its midstream operations through the joint venture. This is likely to be viewed positively by investors, leading to a short-term increase in stock price.
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