US acquisition
Jan 25 (LNGJ) - Matador Resources of the US has signed a deal to acquire Advance Energy Partners Holdings and natural gas and oil-producing properties and undeveloped acreage in Texas and New Mexico as assets in the LNG-producing region of the US Gulf Coast increase in value.
Matador, based in Dallas, said the transaction consisted of an initial cash payment of $1.6 billion plus additional cash considerations of $7.5 million for each month during 2023 in which the average oil price as defined in the securities purchase agreement exceeds $85 per barrel. Advance is a portfolio company of EnCap Investments L.P. The acquisition comes after HighPeak Energy, based in Fort Worth, Texas, said a potential sale of the company and its Permian Basin assets was under consideration.
