Key facts: San Mateo Buys Cardinal $752M; $650M Loan; MS Cuts MTDR PT

Matador’s midstream JV San Mateo will buy Cardinal’s operating units for $752M cash, funded partly by up to $650M term loan, adding >1 Bcf/d processing and ~145 miles gathering.Mor

Matador’s midstream JV San Mateo will buy Cardinal’s operating units for $752M cash, funded partly by up to $650M term loan, adding >1 Bcf/d processing and ~145 miles gathering.
Morgan Stanley cut Matador Resources (MTDR) price target to $66 from $75, keeping an Equal-Weight rating. Traders: note the 12% price-target cut and unchanged rating.
Matador Resources (MTDR) plans a up-to-$650M term loan under its San Mateo credit line, arranged by PNC and Truist; balance funded via cash, existing loans, partner contributions; 364‑day maturity.