Matador Resources Company, a US oil and natural gas E&P operating in Texas, Louisiana and other western states, announced terms for its IPO on Thursday. The Dallas, TX-based company plans to raise $200 million by offering 13.3 million shares at a price range of $14.00 to $16.00. At the mid-point of the proposed range, Matador Resources Company will command a market value of $832 million. Matador Resources Company, which was founded in 2003 and booked $66 million in sales for the 12 months ended September 30, 2011, plans to list on the NYSE under the symbol MTDR. Pricing is scheduled for the week of January 30th. RBC Capital Markets and Citi are the lead underwriters on the deal.
Matador joins Dynamic Offshore Resources (DOR), an oil and natural gas E&P focused on the Gulf of Mexico area, on the IPO calendar. Four other oil and gas E&Ps, Ute Energy (UTE), SandRidge Mississippian Trust II (SDR), Pacific Coast Oil Trust (ROYT) and Cinco Resources (CINC), have filed for US IPOs this month, and the oil and gas industry overall represents over 12 percent of the pipeline (27 of 217 companies).
