Matador Resources Company announced that it has priced a private offering of $900 million of 6.500% senior unsecured notes due 2032 (New Notes) at a price of 100% of their face value. Matador increased the size of the offering to $900 million from the previously announced $800 million. The offering is expected to close on April 2, 2024, subject to customary closing conditions.

Matador intends to use the net proceeds from the offering: to repurchase any and all of the approximately $699.2 million outstanding aggregate principal amount of its 5.875% senior notes due 2026 (2026 Notes) through a cash tender offer (Tender Offer), and to pay related premiums, fees and expenses in connection with the Tender Offer, and for general corporate purposes, which may include the funding of acquisitions and the repayment of borrowings outstanding under Matador?s revolving credit facility. To the extent any 2026 Notes remain outstanding after the consummation of the Tender Offer, Matador intends to satisfy and discharge any remaining 2026 Notes in accordance with the terms of the indenture governing the 2026 Notes. The Tender Offer is being made solely pursuant to the terms of an offer to purchase and related notice of guaranteed delivery, each dated as of March 26, 2024.

The New Notes may be resold by the initial purchasers to persons they reasonably believe to be ?qualified institutional buyers? pursuant to Rule 144A and to non-U.S. persons outside the United States pursuant to Regulations under the Securities Act.