Matador Resources Issues Stock To Fund Eagle Ford Acquisitions & Capital Budget

Matador Resources Eagle Ford Map | Click to Enlarge
Matador Resources Eagle Ford Map | Click to Enlarge

Matador Resources priced a public offering of 8.5 million shares at $15.25/share or for total proceeds of near $130 million on September 4, 2013. The capital raised will be used to fund the company's capital budget and acreage acquisitions in its core operating areas.

Approximately 78% of Matador's 2013 capital budget is allocated to the Eagle Ford. Two rigs will run in the region throughout 2013 and one rig will be added in the Permian Basin of West Texas.

Matador also intends to use net proceeds from this offering to fund the acquisition of additional acreage in the Eagle Ford shale, the Permian Basin and the Haynesville shale and for other general working capital needs.

Read the full press release at matadorresources.com

ZaZa Energy CEO Buys Shares To Fund Eagle Ford Acquisitions

ZaZa Energy's CEO acquired 1.5 million shares worth $1.38 million in a private placement of common stock. The money will be used to fund acreage acquisitions in the company's eastern Eagle Ford and Eaglebine regions. [sws_blue_box box_size="630"]Todd Brooks, CEO of ZaZa stated, "ZaZa is poised for growth and I make this investment with an expectation of value creation through stock price appreciation over time. Proceeds from this transaction will be used for additional acreage acquisition in our core Eaglebine/Eagle Ford East development area." [/sws_blue_box]

Other notable events for ZaZa in 2013 include:

Read the full press release at zazaenergy.com