Matador Resources has completed its previously announced $1.255 billion acquisition of Paloma Permian LLC from EnCap Investments, expanding its Delaware Basin position with approximately 16,500 net acres and more than 156 net drilling locations in southeastern New Mexico.
Matador Resources Co. agreed to buy Permian Basin assets from EnCap Investments LP for about $1.3 billion in cash, as US shale producers continue to expand their drilling inventories in the nation’s biggest oil field.
Average oil production rose by 36 percent to around 115,030 barrels per day in the first quarter of 2025, up from 84,777 barrels per day in the same period of 2024. Average natural gas production increased by 29 percent to 501.6 million cubic feet per day in the first quarter of 2025, compared to 389.9 million cubic feet per day during the first quarter of 2024.