Matador Resources to Expand Midstream with $752M Cardinal Deal

Key Facts

1Matador Resources' San Mateo unit announced a $752 million deal with Cardinal to expand its midstream network in the Delaware Basin.

In a move that strengthens US energy infrastructure, Matador Resources' San Mateo unit has announced a $752 million deal with Cardinal to expand its midstream network in the Delaware Basin, according to reports. The acquisition adds pipelines and customers, boosting production capabilities and cash flow.

The deal comes as the Delaware Basin remains a key growth area for US shale output, with producers investing in midstream capacity to meet export demand. Industry data points to rising midstream investment across the Permian region as drilling activity continues.

MTDR shares closed at $49.76 on June 29, trading between $49.61 and $51.01. Investors will watch integration progress and the impact on second-quarter results. Weekly EIA inventory data could influence sector sentiment.