Matador Resources pays down $100 million under credit facility in Q1

By Wendy Van Sickle

Columbus, Ohio, April 28 – Matador Resources Co. repaid $100 million in borrowings outstanding in the first quarter of 2021, which was in addition to the $35 million repaid during the fourth quarter of 2020, and plans to continue to repay borrowings under its reserves-based credit facility, according to a news release.

The latest repayment brought Matador’s leverage ratio under the reserves-based credit facility down to 2.5 times. Matador expects to continue to generate adjusted free cash flow throughout 2021 and said it plans to use a significant portion of this discretionary cash flow primarily to continue reducing the borrowings under its credit facility and then to pay a quarterly dividend to shareholders.

Matador is a Dallas-based independent energy company.

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