Matador Resources Company has agreed to acquire Paloma Permian, an EnCap Investments portfolio company, for $1.275 billion. The acquisition includes oil and natural gas producing properties and undeveloped acreage in Southeast New Mexico.

Matador, based in Dallas, also announced a separate deal to acquire undeveloped acreage in the Woodford play from Ridge Runner Resources, another EnCap portfolio company. This acreage is located in West Texas and Southeast New Mexico.

Joseph Wm. Foran, Matador’s CEO, stated that the acquisitions will expand the company's Delaware Basin asset base. He anticipates efficient integration, increased cash flow, production, and reserve growth. The Paloma acquisition is expected to close in the fourth quarter of 2026.