Matador Resources Co.

Matador Resources has commenced an underwritten public offering of 7 million shares of its common stock.

The total estimated gross proceeds of the offering, before estimated offering fees and expenses, are approximately $229.3 million.

Matador intends to use the net proceeds from this offering to fund the acquisition of leasehold and mineral acres in the Delaware Basin, including additional drilling and completion expenditures directly attributable to increased working interests, to fund the capital expenditures related to a number of midstream initiatives in the Delaware Basin and for general corporate purposes. Pending such uses, Matador intends to repay all outstanding borrowings under its revolving credit facility and invest the remaining funds in short-term marketable securities.