Matador Resources buys Permian Basin assets from Ameredev II for $1.9B, including a stake in Piñon Midstream LLC, closing Q3 2024.

Matador Resources Co. agreed to buy oil and gas assets in the Permian Basin from Ameredev II Parent LLC, a portfolio company of EnCap Investments, for $1.9 billion in cash. The deal includes producing properties and undeveloped acreage in New Mexico and West Texas, along with a 19% stake in Piñon Midstream LLC, which has pipeline and compression assets in New Mexico. The acquisition is anticipated to close in the third quarter of 2024, subject to customary conditions.