Less than a month ago, Dallas-based San Mateo Midstream, a joint venture between Matador Resources (51%) and Five Point Infrastructure (49%), inked a $752 million deal to make Cardinal Midstream Partners its own. The acquisition expanded San Mateo’s natural gas gathering and processing assets throughout the northern Delaware, adding a cryogenic gas plant with an inlet capacity of 320 MMCFD and 145 miles of low- and high-pressure gathering pipe in West Texas and southern Eddy County, N.M. A slick move indeed for Matador, which happens to be the anchor customer of San Mateo and—at the time—also happened to have other Delaware plans in store.

Reese Energy Consulting today is following the latest from Matador charging out of the gate his morning with news of two upstream acquisitions that pump more muscle into its Delaware position. In a $1.275 billion deal with Paloma Permian backed by EnCap, Matador picks up 16,235 net undeveloped areas in Eddy and Lea counties, N.M., where production in 3Q is expected to range from 10.6 MBOED to 11.6 BOED, 57% oil. The company attributes $50 million of the purchase price to midstream value, according to Hart Energy.

In a second EnCap transaction, Matador will also expand its footprint in the Delaware’s emerging Woodford play where the company has drilled what it believes to be one of the first commercially successful horizontal test wells in N.M. In an estimated $200 million deal for Ridge Runner, Matador gains 13,600 net acres in the Woodford, 150+ net operated locations (normalized to two-mile laterals), and an overall position in the play of approximately 50,000 acres.