Matador Resources Company to acquire EnCap-backed Paloma Permian for nearly $1.3bn
Type: Acquisition · Technology: Oil Gas · Country: United States · Value: $1.3B · Announced: 2026-07-23
Matador Resources Company agreed to acquire primarily undeveloped acreage in the Woodford play from Ridge Runner Resources for nearly $1.3 billion. The assets lie in West Texas and Southeast New Mexico, targeting the core of the Woodford shale formation. The acquisition expands Matador’s presence in the Permian basin and adds material oil‑gas potential to its portfolio. Ridge Runner Resources is a portfolio company of EnCap, linking the deal to EnCap’s broader strategy of consolidating assets in the region. The transaction is expected to close later in 2026, subject to customary closing conditions. No advisors or lenders were disclosed in the announcement.
Counterparties
- Ridge Runner Resources (Seller)
- Matador Resources (Buyer)
- EnCap (Parent Company)
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