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Oil and Gas M&A Momentum Continues to Build

oil and gas

Deals, Mergers & Acquisitions

Matador Resources Company has announced the acquisition of Permian Basin oil and gas properties from Ameredev II Parent, LLC for $1.9 billion. This deal includes a 19% stake in Piñon Midstream and enhances Matador's existing portfolio with high-quality assets in Lea County, New Mexico, and Loving and Winkler Counties, Texas. With this acquisition, Matador's Delaware basin acreage will exceed 190,000 net acres, producing over 180,000 boed with proved reserves surpassing 580 MMboe. The acquisition is strategically important for Matador, boosting its asset base, production capabilities, and free cash flow potential. This acquisition by Matador Resources strengthens its foothold in the prolific Permian basin, particularly the Delaware sub-basin, known for its high production rates and substantial reserves. The addition of 33,500 net acres and 431 operated drilling locations enhances Matador’s operational scale and future drilling inventory. The increased production capacity and proved reserves underscore Matador's growth trajectory and market valuation, now projected to exceed $10 billion.

Noble Corp. is set to acquire Diamond Offshore Drilling in a $1.6 billion cash-and-stock deal, adding 12 offshore floaters to its fleet and expanding its total rig count to 41. This acquisition, offering an 11.4% premium on Diamond's closing share price, is expected to bolster Noble’s revenue and cash flow amidst a favorable offshore drilling market.…

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