Matador Midstream Says San Mateo Subsidiaries Secure New Long-Term Gas Gathering And Processing Agreements In Northern Delaware Basin

Matador Resources Company (NYSE:MTDR) ("Matador") today announced that wholly owned subsidiaries of San Mateo Midstream, LLC ("San Mateo" or the "Company"), Matador’s 51%-owned midstream joint venture with Five Point Infrastructure LLC ("Five Point"), have entered into two agreements with a large producer in the Northern Delaware Basin:

• New Long-Term Agreement: A new long-term fixed fee natural gas gathering and processing agreement for San Mateo to gather and treat natural gas from certain newly dedicated acreage in Lea and Eddy Counties, New Mexico and process such natural gas at the Marlan natural gas processing complex (the "Marlan Plant") in Eddy County, New Mexico (the "New Agreement")
• Long-Term Extension of Existing Agreement: An amendment to extend a natural gas gathering and processing agreement for San Mateo to continue to gather and treat natural gas from Eddy County, New Mexico and process such natural gas for several years past the original term at the Black River natural gas processing plant (the "Black River Plant") in Eddy County, New Mexico ("the Black River Extension"). The Black River Extension extends the natural gas gathering and processing agreement previously announced by San Mateo in October 2018

Under both agreements, San Mateo will provide long-term, fee-based natural gas gathering, processing, treating and related midstream services supporting this producer’s development of its Northern Delaware Basin acreage. The New Agreement includes a large scale acreage dedication. The total volume gathered and processed under these agreements is expected to provide San Mateo with substantial long-term volume growth and increased utilization of its integrated midstream infrastructure.