San Mateo Midstream, as the joint venture is called, will operate and expand Matador’s midstream assets in Eddy County, New Mexico, and Loving County, Texas.
Matador received $171.5 million in connection with the formation of the joint venture and may earn up to an additional $73.5 million in deferred performance incentives over the next five years, the company said.
Matador contributed its midstream assets and $5.1
