Five Point Pledges $176M To New JV With Matador Resources

Law360, New York (February 21, 2017, 4:39 PM EST) -- Five Point Capital Partners LLC and Matador Resources Co. have launched a joint venture that will acquire, operate and expand natural gas, crude oil and produced water midstream assets in the Delaware Basin, with Five Point providing more than $176.4 million in initial capital.

The formation of the joint venture, called San Mateo Midstream LLC, was announced on Friday. Five Point and "certain of its co-investors" have agreed to commit an initial cash consideration of $176.4 million, while a subsidiary of Matador is contributing about $500 million worth of midstream assets in Eddy County, New Mexico, and Loving County, Texas....

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