Matador Resources Company (NYSE:MTDR) ("Matador") today announced that it has entered into multiple agreements with affiliates of Energy Transfer LP ("ET"), including a gas supply agreement. This transaction is an additional step taken by Matador's marketing team to improve all-in pricing netbacks and reduce exposure to Waha Hub pricing in the second half of 2026. In addition to this gas supply agreement, Matador has executed separate natural gas liquid ("NGL") agreements with various ET affiliates to dedicate and sell Matador's NGLs from multiple sources in the Delaware Basin to ET.

On October 30, 2025, Matador announced that it had secured firm transportation on Energy Transfer's Hugh Brinson Pipeline to move 500,000 MMBtu per day of natural gas production out of the Permian Basin to points of sale where demand and pricing have historically been significantly higher than at the Waha Hub. We expect the new gas supply agreement with ET announced today will allow Matador to bridge the gap prior to Matador's transportation agreement on the Hugh Brinson Pipeline becoming effective and realize higher natural gas prices for a portion of its natural gas production in the second half of 2026. This agreement is also expected to provide ET with natural gas to feed the growing demand from artificial intelligence (AI) driven data centers and power generation markets.