Matador Resources (MTDR) said Tuesday that it has received about $113 million as its share of the proceeds from Enterprise Products Partners' (EPD) acquisition of Pinon Midstream.
The company said it owns about a 19% stale in Pinon Midstream's parent company.
Matador Resources Chief Executive Officer Joseph Foran said the proceeds will be used to pay down $980 million in current outstanding borrowings under the company's $2.25 billion credit facility.
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