Matador Resources Company (NYSE:MTDR) is one of the most undervalued US stocks according to analysts. As May was coming to an end, Matador Resources and its midstream affiliate, called San Mateo Midstream, announced several corporate developments. These include the successful startup of the expanded Marlan cryogenic natural gas processing plant in Eddy County, New Mexico.
The expansion of San Mateo’s Marlan Plant was completed on time and within budget, and added an incremental 200 million cubic feet per day (MMcf/d) of natural gas processing capacity. This increases the plant’s total designed inlet capacity to 260 MMcf/d, which is up from the previous 60 MMcf/d.
A pipeline snaking its way through the hills and valleys of the Delaware Basin.
The expansion will support Matador’s development activities in Eddy and northern Lea Counties, New Mexico, as well as existing third-party producer development plans. With this expansion, San Mateo’s midstream system now supports a total gas processing capacity of 720 MMcf/d across Eddy and Lea Counties, New Mexico.
Matador Resources Company (NYSE:MTDR) is an independent energy company that acquires, explores, develops, and produces oil & natural gas resources in the US.
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Disclosure: None. This article is originally published at Insider Monkey.
