Dallas-based Matador Resources said Thursday it closed the $1.255 billion acquisition of Paloma Permian with plans to begin drilling operations on up to 25 wells by yearend 2027. The deal adds 156 net locations across 9 potential targeted benches to Matador’s inventory along with about 16,500 net primarily undeveloped acres in Eddy and Lea counties in New Mexico, the majority of which is held by production.
Joseph Wm. Foran, CEO and chairman at Matador, said, “We believe the Paloma assets hold some of the highest hydrocarbon resources per acre in the lower 48. This acreage also provides Matador with great value creation opportunities for upstream capital efficiencies, for its wholly owned midstream system, and for its 51 percent-owned San Mateo Midstream system… We are encouraged by the continued strong performance of the acquired producing wells (10 percent above estimates).”
With the addition of assets from Paloma, Ridge Runner Resources and the May 2026 federal lease sale, Matador will have about 240,000 net acres in core of Delaware Basin – almost 20 percent above its October 2025 position of 203,000 net acres.
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