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Matador Resources has announced that a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire Advance Energy Partners Holdings, including certain oil and natural gas producing properties and undeveloped acreage located in Lea County, New Mexico and Ward County, Texas.

Matador said the deal to purchase Advance Energy, an EnCap-backed company, will not increase its leverage and adds more than 200 net drilling locations in the northern Delaware.

Matador Resources Co. is seeing better than expected results from recently completed wells in the Permian Basin’s Delaware sub-basin, according to CEO