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Press Releases

2/25/2019 - Five Point Energy Announces Second Midstream Joint Venture With Matador Resources In The Northern Delaware Basin
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Five Point Energy Announces Second Midstream Joint Venture With Matador Resources In The Northern Delaware Basin
Source: PR Newswire
HOUSTON, Feb. 25, 2019 /PRNewswire/ -- Five Point Energy LLC ("Five Point") today announced the formation of a new strategic joint venture, San Mateo Midstream II, LLC ("San Mateo II"), in partnership with a wholly-owned subsidiary of Matador Resources Company (NYSE: MTDR) ("Matador").  San Mateo II is the second midstream partnership between Five Point and Matador and, similar to San Mateo Midstream I (together with San Mateo II, "San Mateo"), will provide natural gas gathering and processing, crude oil gathering, and produced water gathering and disposal solutions to E&Ps throughout the Northern Delaware Basin.
To facilitate the formation of San Mateo II, Matador has dedicated, under 15-year, fixed fee contracts, approximately 25,500 acres in northern Eddy County (the "Greater Stebbins Area") and southern Eddy County near the Texas & New Mexico border (the "Stateline Area").  Within the Greater Stebbins Area and Stateline Area, San Mateo II will immediately begin development and construction of (i) a 200 million cubic feet per day natural gas processing plant and associated infrastructure; (ii) crude oil gathering; and (iii) produced water gathering and disposal infrastructure (the "Midstream Assets") to support its initial dedication from Matador and to serve other regional producers.  At closing, Five Point and Matador owned 49% and 51% of the JV, respectively, and the Midstream Assets will be operated by the existing San Mateo midstream team. 
David Capobianco, Chief Executive Officer and Managing Partner of Five Point Energy, said, "The ongoing success of our JV with Matador exemplifies Five Point's strategy of proactively identifying industry leading management teams to partner with and build out world-class midstream infrastructure companies.  The Delaware remains one of the most promising producing basins in North America, yet it lacks sufficient permanent 'in-basin' midstream infrastructure.  Five Point's portfolio companies, including San Mateo Midstream, WaterBridge, EVX and Twin Eagle, are providing critical midstream infrastructure solutions for third party producers, with unparalleled offerings and innovation."
Matt Morrow, Chief Operating Officer and Managing Partner of Five Point Energy, said, "We are delighted to continue our very successful partnership with the Matador team, who we believe to be one of the preeminent operators in North America.  Collectively, we have built a world-class infrastructure business that is meeting the increasing needs of E&Ps in the Delaware Basin." 
Joseph Wm. Foran, Chairman and Chief Executive Officer of Matador, said, "We are very pleased and excited to announce yet another transaction with Five Point. This transaction represents another significant step forward for Matador and the midstream team; accomplishes one of our strategic goals for 2019; and was made possible in part by Matador's acquisition of its BLM properties at the September 2018 BLM Lease Sale. We expect that San Mateo will continue to provide first class service to Matador and other producers along San Mateo's pipeline systems in Eddy County, New Mexico and Loving County, Texas in some of the prime producing areas of the Delaware Basin. We obviously are pleased with the progress of our existing joint venture with Five Point, and this transaction is a further testament to the existing joint venture's success and positive outlook. San Mateo's ability to offer midstream services across all three production streams—crude oil, natural gas and water—makes it one of the important midstream companies in the Northern Delaware Basin. Five Point's financial and operational expertise has accelerated and heightened this success."
Additional Details of the Joint Venture
In connection with its initial dedication from Matador, San Mateo II initially plans to construct:
• A cryogenic natural gas processing plant with up to 200 million cubic feet per day of inlet capacity. The plant will be located in Eddy County, New Mexico near San Mateo I's existing 260 million cubic feet per day natural gas processing complex (Black River). The new plant is expected to be operational in mid-2020; once completed, San Mateo will have up to 460 million cubic feet per day of natural gas processing capacity;
• At least two produced water disposal wells and related commercial produced water disposal facilities, including one in the Stateline Area and one in the Greater Stebbins Area. Once the initial facilities are completed, San Mateo II expects to have up to 80,000 barrels per day of water disposal capacity; and
• Related crude oil, natural gas and produced water gathering infrastructure in both the Stateline Area and the Greater Stebbins Area. San Mateo II will construct a large-diameter natural gas trunkline through the core of the Northern Delaware Basin to connect the Stateline Area, Greater Stebbins Area, and the new processing plant.
About San Mateo Midstream, LLC
San Mateo Midstream is a strategic joint venture formed between Matador Resources Company (NYSE: MTDR) and Five Point Energy LLC. San Mateo provides an all-inclusive approach to midstream services for the three main product streams produced by oil and natural gas activities, including salt water gathering and disposal services, natural gas gathering, compression, treating and processing services, and oil gathering, transportation and blending services. Throughout Eddy County, New Mexico and Loving County, Texas, San Mateo owns and operates crude oil gathering infrastructure; natural gas gathering and processing infrastructure, including the 260 million cubic feet per day Black River Processing Plant; and multiple water gathering and transportation systems, including eight commercial salt water disposal wells. San Mateo serves as one of the primary midstream solutions for multiple customers across the Northern Delaware Basin, including its anchor customer, Matador Resources Company. For more information, visit San Mateo Midstream, LLC at www.sanmateomidstream.com.
About Five Point Energy
Five Point Energy is a leading private equity firm focused on the midstream energy sector.  The firm was founded by industry veterans who have had successful careers investing in, building and running midstream companies.  Five Point's strategy is to acquire and develop in-basin assets, provide value-added growth capital, and build world-class midstream companies with premier management teams and industry-leading E&P partners.  The firm is focused on providing in-basin crude oil, natural gas, liquids and water management midstream solutions to E&P companies in the Permian Basin, Eagle Ford, Mid-Continent and Rockies.  Based in Houston, Five Point Energy manages more than $2.5 billion of capital across multiple investment funds. For more information, visit Five Point Energy at www.fivepointenergy.com.
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo Midstream, LLC, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and salt water gathering services and salt water disposal services to third parties. For more information, visit Matador Resources Company at www.matadorresources.com.
Media Inquiries
Daniel Yunger
Kekst CNC
212-521-4800 
Daniel.Yunger@kekstcnc.com 
View original content:http://www.prnewswire.com/news-releases/five-point-energy-announces-second-midstream-joint-venture-with-matador-resources-in-the-northern-delaware-basin-300801096.html
SOURCE Five Point Energy

Article Date
2/25/2019
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5/25/2017 - Matador Resources Set to Join S&P MidCap 400
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Matador Resources Set to Join S&P MidCap 400
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
NEW YORK, May 25, 2017 /PRNewswire/ -- Matador Resources Company (NYSE: MTDR) will replace Western Refining, Inc. (NYSE: WNR) in the S&P MidCap 400 effective prior to the open on Friday, June 2. S&P 500 constituent Tesoro Corp. (NYSE: TSO) is acquiring Western Refining in a deal expected to be completed on or about that date, pending final conditions.
Matador Resources engages in the exploration, development, production, and acquisition of oil and natural gas resources. Headquartered in Dallas, TX, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Oil & Gas Exploration & Production Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX – June 2, 2017
	COMPANY	GICS ECONOMIC SECTOR	GICS SUB-INDUSTRY
ADDED	Matador Resources	Energy	Oil & Gas Exploration & Production
DELETED	Western Refining	Energy	Oil & Gas Refining & Marketing
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500^® and the Dow Jones Industrial Average^®. More assets are invested in products based on our indices than based on any other provider in the world. With over 1,000,000 indices and more than 120 years of experience constructing innovative and transparent solutions, S&P Dow Jones Indices defines the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
FOR MORE INFORMATION:
Soogyung Jordan
Global Head of Communications
New York, USA
(+1) 212 438 2297
soogyung.jordan@spglobal.com
David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com
SOURCE S&P Dow Jones Indices

Article Date
5/25/2017
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2/17/2017 - Five Point Capital Partners and Matador Resources Form Strategic Joint Venture to Expand Midstream Business in the Delaware Basin
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Five Point Capital Partners and Matador Resources Form Strategic Joint Venture to Expand Midstream Business in the Delaware Basin
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
HOUSTON, Feb. 17, 2017 /PRNewswire/ -- A wholly owned subsidiary of Five Point Capital Partners LLC ("Five Point") and Matador Resources Company (NYSE: MTDR)  ("Matador") today announced the formation of San Mateo Midstream, LLC ("San Mateo" or the "JV") to own, operate and expand natural gas, crude oil, and produced water midstream assets in the Delaware Basin, including Matador's midstream assets in Eddy County, New Mexico and Loving County, Texas (the "Midstream Assets").  At formation, Five Point and Matador owned 49% and 51% of the JV, respectively, with Matador's midstream team continuing to operate the Midstream Assets. 
The implied value of the Midstream Assets and the associated gathering, processing and disposal agreements entered into with Matador was approximately $500 million at closing, after taking into account performance incentives.  Funding for the JV includes an initial cash consideration of $176.4 million by Five Point and certain of its co-investors, with a subsidiary of Matador contributing the Midstream Assets.  The parties to the JV have also committed to spend up to an additional $150 million in aggregate to expand the JV's midstream operations and asset base.
David Capobianco, CEO and Managing Partner of Five Point, said, "Our JV with Matador perfectly aligns with Five Point's strategy of proactively identifying industry leading management teams to partner with to build out world-class midstream infrastructure companies.  The JV will build oil, NGL, gas and water infrastructure to support the needs of Matador, as our anchor customers, as well as third party producers in the region who seek infrastructure solutions.  We firmly believe that the JV will create significant value, as the Delaware is one of the most promising producing basins in North America, yet currently lacks sufficient permanent 'in-basin' midstream infrastructure."
Joseph Wm. Foran, Chairman and Chief Executive Officer of Matador, said, "We are very pleased and excited to announce this transaction with Five Point, which recognizes the significant value that Matador has already created with our midstream assets in the Delaware Basin.  In addition, this joint venture gives us and our partners at Five Point the opportunity to continue to build out and expand these assets to further enhance their value for our respective stakeholders, while giving Matador the opportunity to retain operational control of these important assets and providing critical support to our ongoing exploration and production operations in the Delaware Basin.  The joint venture will not only provide midstream services for Matador but will also serve third party customers in and around our Rustler Breaks and Wolf asset areas.  We had many opportunities to make a deal on these assets with a number of different companies over the past year, and we are confident that Five Point is the right joint venture partner for Matador. We look forward to working together closely with the Five Point team going forward."
Matt Morrow, COO and Managing Partner of Five Point, said "We are delighted to partner with Joe and the Matador team, who we believe to be one of the preeminent operators in North America.  The Delaware Basin is one of the most economic and active oil and gas basins in all of North America, and we look forward to building a world-class infrastructure business to meet the region's expanding needs."
Additional Details on the JV:
The JV will continue to provide firm capacity service to Matador at market rates, while also being a leading service provider to third party customers in and around Matador's Rustler Breaks and Wolf asset areas.  The JV expects to expand the Black River Cryogenic Processing Plant in Matador's Rustler Breaks asset area from its current inlet capacity of 60 million cubic feet of natural gas per day to as much as 260 million cubic feet of natural gas per day.  This expansion is expected to be operational as early as the first quarter of 2018 and serve both Matador and third party customers.  The JV also plans to accelerate the buildout of oil, natural gas and water gathering lines throughout both the Rustler Breaks and Wolf asset areas, as well as to drill and complete at least one additional commercial salt water disposal well in the Rustler Breaks asset area in 2017. 
Included in the Midstream Assets contributed by Matador to the joint venture are:
• The Black River Cryogenic Processing Plant in the Rustler Breaks asset area in Eddy County, New Mexico;
• One salt water disposal well and a related commercial salt water disposal facility in the Rustler Breaks asset area;
• Three salt water disposal wells and a related commercial salt water disposal facility in the Wolf asset area in Loving County, Texas; and
• All related oil, natural gas and water gathering systems and pipelines in both the Rustler Breaks and Wolf asset areas. 
Matador retained its ownership in certain midstream assets owned in South Texas and North Louisiana.
In connection with the JV, Matador dedicated its current and future leasehold interests in the Rustler Breaks and Wolf asset areas pursuant to 15-year, fixed-fee natural gas, oil and salt water gathering agreements and salt water disposal agreements.  In addition, Matador dedicated its current and future leasehold interests in the Rustler Breaks asset area pursuant to a 15-year, fixed fee natural gas processing agreement.  The JV will provide Matador with firm service under each of these agreements in exchange for certain minimum volume commitments.   
About Five Point Capital Partners
Five Point Capital Partners is a private equity firm focused on midstream energy infrastructure and energy sector investments across North America.  Five Point's investment strategy is to partner with, develop and support strong management teams through buyouts and growth capital investments within the midstream energy sector.  Based in Houston, Texas, Five Point is currently investing from Five Point Capital Midstream Fund II L.P. and manages more than $600 million of capital.  For further information, please visit www.fivepointcp.com.
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas.  Matador also conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, natural gas, oil and salt water gathering services and salt water disposal services to third parties on a limited basis.  For more information, visit Matador Resources Company at www.matadorresources.com.
Media Inquiries:
Daniel Yunger or Ethan Lyle
KEKST
212-521-4800
Daniel.Yunger@kekst.com / Ethan.Lyle@kekst.com
SOURCE Five Point Capital Partners

Article Date
2/17/2017
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