Matador's San Mateo Signs Delaware Basin Gas Deals

07:19 AM EST, 11/02/2026 (MT Newswires) -- Matador Resources (MTDR) said Monday its midstream venture San Mateo signed two long-term agreements to gather and process natural gas for a large producer in the Delaware Basin. One agreement covers newly dedicated acreage in Lea and Eddy counties, New Mexico, for processing at the Marlan plant, while the other extends an existing deal at the Black River plant for several years past its original term, the company said. San Mateo will add a new 300 million cubic feet per day processing train at its Marlan plant complex and construct about 20 miles of natural gas pipeline to connect the newly dedicated acreage, targeting completion by year-end 2028, Matador Resources said. Midstream capital spending for the year will rise by about $25 million, with total spending expected at $170 million to $190 million, it said. Shares of the company were down 1.5% in Monday premarket activity.