Matador Resources Company Announces Agreement for Sale of Loving County Gas Gathering and Processing Assets for $143 Million

DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”), an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources, with an emphasis on oil and natural gas shale and other unconventional plays and with a current focus on its Permian (Delaware) Basin operations in Southeast New Mexico and West Texas, today announced a definitive agreement to sell a wholly-owned subsidiary of Matador that owns certain natural gas gathering and processing assets in the Delaware Basin in Loving County, Texas (the “Loving County System”), including a cryogenic natural gas processing plant with approximately 35 million cubic feet per day of inlet capacity (the “Processing Plant”) and approximately six miles of high-pressure gathering pipeline which connects a Matador-owned gathering system to the Processing Plant, to a subsidiary of EnLink Midstream Partners, LP (NYSE: ENLK) (“EnLink”) for cash consideration of approximately $143 million, subject to certain adjustments. The Processing Plant, which has been operational for approximately two weeks, is currently processing about 19 million cubic feet of natural gas per day.