Past year: ▲ 34%(39.46 – 63.44 USD)
Each one in plain English, with the numbers worked through for a shareholder.
24 Jan 2023material agreement▲ GoodMajor
Matador agreed to buy Advance Energy Partners Holdings for $1.6 billion cash (plus contingent payments of $7.5 million per month in 2023 whenever WTI oil averages above $85) -- by far its largest acquisition to date, adding roughly 18,500 net acres, 99% held by production, in the core northern Delaware Basin adjacent to its existing Ranger area in Lea County, New Mexico.
24 Oct 2022dividend declaration▲ Good
Dividend held steady at $0.10 per share.
25 July 2022dividend declaration▲ GoodMajor
Matador doubled its dividend again, to $0.10 per share, under a revised policy adopted in June 2022 -- its second doubling in under a year.
25 Apr 2022dividend declaration▲ Good
Dividend held steady at $0.05 per share.
22 Feb 2022dividend declaration▲ Good
Dividend held steady at $0.05 per share.
14 Dec 2021debt financing● Neutral
Two more subsidiaries (MRC Explorers Resources and MRC Spiral Resources) were added as guarantors under the indenture governing Matador's 2026 senior notes -- routine housekeeping as the corporate structure grew.
18 Nov 2021debt financing▲ GoodMajor
Matador and its lenders signed a Fourth Amended and Restated Credit Agreement: maximum facility reaffirmed at $1.5 billion, borrowing base raised to $1.35 billion, elected commitment held at $700 million, and maturity extended to October 2026 -- a comprehensive refresh of the facility that had backed the company since 2012.
25 Oct 2021dividend declaration▲ GoodMajor
Matador doubled its dividend policy to $0.05 per share (from $0.025), the first raise since the payout was introduced nine months earlier.
26 July 2021dividend declaration▲ Good
A third consecutive quarter at the $0.025 per share dividend rate.
29 Apr 2021debt financing● Neutral
Matador's credit facility was amended to reaffirm its $900 million borrowing base and $700 million elected commitment, and to add provisions preparing for the discontinuation of LIBOR.
26 Apr 2021dividend declaration▲ Good
Matador declared its second quarterly dividend, holding steady at $0.025 per share.
22 Feb 2021dividend declaration▲ GoodMajor
Matador adopted a dividend policy and declared its first-ever quarterly cash dividend, $0.025 per share -- a new capital-return commitment on top of its growth spending.
1 Nov 2018debt financing▲ GoodMajor
Matador's credit facility was substantially expanded: maximum facility size raised to $1.5 billion, borrowing base to $850 million, elected commitment to $500 million, maturity extended to October 2023, the interest rate cut by 0.25%, and a 4.00x leverage covenant set -- reflecting the company's growing scale and improved lender terms.
4 Oct 2018debt financing▲ GoodMajor
Matador tapped the same notes for an additional $300 million (total now $1.05 billion outstanding), netting about $298 million, which it used to pay down its revolving credit facility.
21 Aug 2018debt financing▲ GoodMajor
The $750 million notes offering closed, netting $740 million; the notes mature September 2026, are guaranteed by Matador's subsidiaries, and require a change-of-control repurchase offer at 101% of face value.
9 Aug 2018debt financing▲ GoodMajor
Matador priced $750 million of new 5.875% Senior Notes due 2026, intending to use the proceeds to tender for its existing 6.875% Senior Notes due 2023 -- refinancing to a lower rate and a longer maturity.
17 May 2018material agreement▲ GoodMajor
A further equity raise: 7 million shares at $32.3731/share, about $227 million gross -- continued funding for Matador's growth.
10 Oct 2017material agreement▲ GoodMajor
Matador raised about $209 million in an underwritten equity offering of 8 million shares at $26.09/share -- growth capital as the company scaled up its Permian Basin drilling program.
4 May 2017debt financing● Neutral
Matador's revolving credit facility was amended: borrowing base raised from $400 million to $450 million, though the company kept its elected commitment at $400 million.
24 Feb 2017asset acquisition disposition▲ GoodMajor
Matador formed San Mateo Midstream, LLC, a joint venture with Five Point Capital Partners: Matador contributed its Wolf and Rustler Breaks midstream assets (valued at $350 million) plus $5.1 million cash for 51%, while Five Point contributed $176.4 million cash for 49% (most of it immediately paid back to Matador as capex reimbursement). Both partners committed tens of millions more in follow-on capital -- Matador's first major midstream joint venture, monetizing infrastructure it had already built.
