Business Context and Reporting Period
Matador Resources Co. filed a Form 8-K Current Report on September 7, 2012. The filing discloses a specific financing event related to the company's credit facilities.
Key Financial Metrics
- New Borrowing: $15.0 million borrowed on September 7, 2012.
- Purpose: Financing working capital requirements and capital expenditures.
- Total Outstanding Borrowings: $105.0 million as of September 12, 2012.
- Letters of Credit: Approximately $1.1 million outstanding.
- Available Capacity: Approximately $18.9 million available for additional borrowings under the Credit Agreement.
Material Changes
The filing reports an increase in debt obligations due to the $15.0 million drawdown under the Second Amended and Restated Credit Agreement. No comparative period data or prior period metrics are provided in this specific filing.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or a discussion of risks and contingencies beyond the immediate creation of a direct financial obligation.
Investor Verification Checklist
- Verify the total debt load and interest rate terms associated with the $105.0 million outstanding balance.
- Confirm the remaining borrowing capacity of $18.9 million against upcoming capital expenditure plans.
- Review the full Second Amended and Restated Credit Agreement for covenants and maturity dates.