August 2022, Vol. 249, No. 8


Companies in the News August 2022


Matador Resources announced that one of its subsidiaries has agreed to Summit Midstream Partners’ Lane Gathering and Processing System in Eddy and Lea Counties, New Mexico, for $75 million. In connection with the deal, Matador will assume certain takeaway capacity on the Double E natural gas pipeline, which is operated by Summit.

The sale includes a 60-MMcf/d (1.7 MMcm/d) cryogenic natural gas processing plant, three compressor stations and approximately 45 miles (72 km) of natural gas gathering pipelines, Matador said.  

“This acquisition is a further extension of our strategy to control our midstream operations and to use our midstream assets to further enhance and assist our operations,” said Matador’s Founder, Chairman and CEO Joseph Wm. Foran. 

To accomplish this, Foran said, “Matador expects to expand the Lane G&P System to support its environmental, safety, exploration and production efforts in northern Eddy and Lea Counties.” 


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