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Matador Resources Company Announces Exercise of Over-Allotment Option

Mar 02, 2012

DALLAS, March 2, 2012  /PRNewswire/ -- Matador Resources Company (NYSE: MTDR) announced today that the underwriters of its recently completed initial public offering of common stock have exercised their over-allotment option to purchase an additional 1,550,000 shares of Matador's common stock at the public offering price of $12.00 per share, less underwriting discount.  542,500 of the over-allotment shares are being sold by Matador and 1,007,500 of the over-allotment shares are being sold by certain named selling shareholders.  The sale of these over-allotment shares is expected to close on March 7, 2012, subject to customary closing conditions. 

Upon the closing of the sale of the over-allotment shares, Matador will have sold a total of 12,209,167 shares in its initial public offering, resulting in aggregate net proceeds to Matador of approximately $133.6 million, after deducting underwriting discounts and commissions and estimated offering expenses.  Matador intends to use its additional net proceeds from the over-allotment exercise to fund a portion of its 2012 capital expenditure budget.  Matador will not receive any proceeds from the sale of over-allotment shares by the selling shareholders.

RBC Capital Markets and Citigroup acted as joint book-running managers.  Jefferies, Howard Weil Incorporated, Stifel Nicolaus Weisel, Simmons & Company International, Stephens Inc. and Comerica Securities acted as co-managers for the offering.

The offering was made only by means of a prospectus.  Copies of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from the offices of:

RBC Capital Markets
Attn: Prospectus Department
3 World Financial Center
200 Vesey Street, 8th Floor
New York, New York 10281
Telephone: (877) 822-4089

Attn: Prospectus Department
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, New York 11220
Telephone: (800) 831-9146

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission.  This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Matador Resources Company

Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with a particular emphasis on both oil and natural gas shale plays and other unconventional resource plays. Its current operations are located primarily in the Eagle Ford shale play in south Texas and the Haynesville shale play in northwest Louisiana and east Texas.

For more information visit Matador Resources Company on the Internet at

Forward Looking Statement

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  "Forward-looking statements" are statements related to future, not past, events.  Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact.  In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "could," "believe,"  "anticipate," "intend," "estimate," "expect," "may," "should," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.  These forward-looking statements involve certain risks and uncertainties and ultimately may not prove to be accurate.  Actual results and future events could differ materially from those anticipated in such statements.  For further discussion of risks and uncertainties, you should refer to Matador's SEC filings.  Matador undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release, except as required by law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Contact Information
Wade Massad
Executive Vice President – Capital Markets 

Nathan Pekar
General Counsel

SOURCE Matador Resources Company