Matador Resources (MTDR) announced that its San Mateo Midstream JV signed two long-term natural gas gathering and processing agreements with a large Delaware Basin producer. San Mateo will build a 300 MMcf/d processing train and 20 miles of pipeline, targeting completion by end of 2028. Matador raised 2026 midstream capex guidance by $25 million to $170-190 million. San Mateo expects the expansion to generate over $100 million in Adjusted EBITDA by 2029 and bring total processing capacity above 1.3 Bcf/d.
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