Matador Resources Announces $1.275 Billion Paloma Permian Acquisition And Successful Woodford Exploration Results
By Amit Chowdhry ● Jul 23, 2026
Matador Resources Company announced two catalysts for 2026: a definitive agreement to acquire Paloma Permian LLC, a portfolio company of EnCap Investments, for a cash payment of $1.275 billion, along with successful test results from its first exploratory well in the Woodford formation in southeast Lea County, New Mexico. The Paloma acquisition, expected to close in the fourth quarter of 2026, includes 16,235 net undeveloped acres in Eddy and Lea Counties, New Mexico, and third quarter estimated production of approximately 11,100 barrels of oil equivalent per day, 57 percent of it oil.