Common Stock (Notes)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Common Stock

COMMON STOCK

On May 29, 2014, the Company completed a public offering of 7,500,000 shares of its common stock. After deducting direct offering costs totaling approximately $0.6 million, the Company received net proceeds of approximately $181.3 million. The Company used a portion of the net proceeds to repay $180.0 million in outstanding borrowings under its Credit Agreement (see Note 5), which amounts may be reborrowed in accordance with the terms of that facility. The remaining $1.3 million of the offering net proceeds was used to fund working capital requirements.

On October 31, 2014, Matador’s board of directors canceled all of the shares of treasury stock outstanding as of September 30, 2014. These shares were restored to the status of authorized but unissued shares of the common stock of the Company.