Matador Resources pays down $140 million more under revolver

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – Matador Resources Co. repaid $120 million in borrowings outstanding under its reserves-based revolving credit facility in the third quarter of 2021 and another $20 million in October, according to a news release.

These amounts were in addition to the $100 million repaid during the second quarter of 2021, the $100 million repaid during the first quarter of 2021 and the $35 million repaid during the fourth quarter of 2020.

The amount outstanding under the revolver is now $100 million, compared to $475 million at the end of the third quarter of 2020.

The latest repayment brought Matador’s leverage ratio under the reserves-based credit facility down to 1.3 times, which marks the company’s lowest leverage ratio since mid-2018.

Matador is a Dallas-based independent energy company.

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