Matador Resources, Five Point Capital form Delaware basin midstream JV

摘要

Dallas-based Matador Resources Co. and Houston private equity firm Five Point Capital Partners LLC have formed San Mateo Midstream LLC to operate and expand Matador's midstream assets in the Delaware basin in Eddy County, NM, and Loving County, Tex. Five Point provided initial cash of $176.4 million to the joint venture in exchange for 49 interest, with $171.5 million distributed to Matador as a special distribution. Matador contributed the midstream assets and $5.1 million in cash in exchange for its .5.1 interest. Matador will continue to operate the assets and control the JV.