05:36 PM EDT, 09/25/2024 (MT Newswires) -- Matador Resources ( MTDR ) said late Wednesday it closed a $750 million private offering of 6.25% senior unsecured notes due 2033. Proceeds will go toward repaying borrowings under its credit facility, including a $250 million term loan outstanding.

Chief Financial Officer Brian Willey said the offering will likely result in interest expense savings of about $1 million per month for the rest of this year.

The company also said the integration of assets from its recent acquisition of Ameredev will be a primary focus for the remainder of 2024. Matador plans to deploy one drilling rig immediately on the acquired acreage and then proceed with two completion crews focusing on 11 wells expected to be turned to sales in H1 2025 on the Pimento and Firethorn leases.

"We plan to pull forward operational efficiencies such as simul-frac, trimul-frac, and dual-fuel technologies on the Ameredev assets, which we expect to result in synergies of approximately $160 million from our drilling, completing and equipping operations over the next five years," Chief Operating Officer Christopher Calvert said.