September 13, 2018
The anonymous purchaser of drilling rights for New Mexico Permian shale properties in last week’s auction turns out to be a Dallas-based company.
Matador Resources Co.’s CFO confirmed to Bloomberg that the company took on the new leases as part of a $387 million plan to expand in the Permian Basin with a new 8,400 net acres.
The auction set a record $95,000 per acre for a ten-year term and a 12.5% lease royalty.
Matador said the land was all in New Mexico’s Lea and Eddy counties.