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Matador expands San Mateo midstream with Delaware basin gas deals

By Reuters News

Nov 2 (Reuters) - Oil and gas company Matador Resources MTDR.N said on Monday its San Mateo Midstream joint venture has signed two long-term agreements with a large producer in the Northern Delaware basin, expanding its natural gas gathering and processing footprint in New Mexico.

  • Of the two agreements, the new contract is to gather and treat natural gas from certain newly dedicated acreage in Lea and Eddy Counties in New Mexico and process such natural gas at the Marlan natural gas processing complex in Eddy County

  • The other is an extension of an existing contract tied to San Mateo's Black River processing plant

  • San Mateo, Matador's 51%-owned midstream joint venture with Five Point Infrastructure, plans to add a 300 million cubic feet per day processing train and nitrogen rejection unit at its Marlan plant complex

  • The will be in addition to 20 miles of new natural gas pipeline and a carbon-dioxide treating facility

  • The expansion is targeted for completion by the end of 2028

  • In 2027, San Mateo plans to complete the full system connection with a northern pipeline linking its Lea County gathering infrastructure with Cardinal's Eddy County infrastructure

  • San Mateo had acquired operating units of Cardinal Midstream Partners for $752 million in June

  • Following this, it had completed connection of the San Mateo and Cardinal systems in southern Eddy County

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