Matador Revealed as Mystery Buyer in Record Permian Auction
- The driller spent $95,001 per acre for some drilling rights
- The land is in the most prolific part of the basin, RBC says
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Matador Resources Co. was the anonymous purchaser of drilling rights in the Permian shale that fetched a record $95,001 per acre. The shares dropped the most in more than a year.
Chief Financial Officer David Lancaster confirmed on Wednesday that the record lease was part of the $387 million the Dallas-based company spent on 8,400 net acres in the Permian’s Delaware Basin. The U.S. Bureau of Land Management, which conducted New Mexico auction last week, had identified the winning bidder as Federal Abstract Co., a firm in Santa Fe that bids on behalf of anonymous investors.