Matador Resources pays down $100 million remaining on revolver

By William Gullotti

Buffalo, N.Y., April 26 – Matador Resources Co. repaid $50 million of borrowings outstanding under its reserves-based revolving credit facility in the first quarter of 2022 and the remaining $50 million in April, according to a news release on Tuesday.

The payments eliminated all borrowings outstanding under its reserves-based revolver.

The company repaid a total of $475 million of its debt since the end of the third quarter of 2020.

Matador’s leverage ratio under the reserves-based revolver dropped down to 0.8 times during the first quarter of 2022, which marks the company’s lowest leverage ratio since mid-2013.

Matador is a Dallas-based independent energy company.

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