Matador Resources announced that its San Mateo Midstream joint‑venture has increased the commitments on its revolving credit facility by $250 million, raising the total available credit from $850 million to $1.10 billion. At the same time, the company’s nineteen‑member bank group reaffirmed the borrowing base for its reserves‑based loan facility at $3.25 billion, with the elected commitment remaining at $2.25 billion.
The additional $250 million of credit capacity lifts Matador’s liquidity cushion and reduces its debt‑to‑EBITDA leverage to below 1.0×, a level that signals a stronger balance sheet and lower borrowing costs. The new capacity also gives the company more flexibility to fund drilling programs, invest in midstream infrastructure upgrades, and pursue strategic acquisitions, all of which are central to its growth strategy.
Historically, Matador has steadily expanded its credit facilities. The borrowing base was increased to $3.25 billion in December 2024, and the same figure was reaffirmed in May 2025. The San Mateo facility has seen a series of incremental increases—from $325 million in 2019 to $450 million in 2021—demonstrating a consistent pattern of strengthening financial arrangements.
Joseph Wm. Foran, Matador’s founder, chairman and CEO, said the unanimous support from the bank group reflects confidence in the company’s reserves and operational execution. He added that the higher San Mateo commitments provide “greater operating and financial flexibility.” Executive Vice President – Midstream Brian J. Willey noted that the increased credit line “provides San Mateo with greater operational and financial flexibility.”
The enhanced credit capacity positions Matador to accelerate its drilling schedule, upgrade pipeline and processing assets, and remain opportunistic in a competitive acquisition market. Lender confidence, as evidenced by the unanimous reaffirmation and the expanded commitments, underscores the company’s solid reserve profile and disciplined capital management, reinforcing investor confidence in its long‑term growth prospects.
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