 Matador Resources Co. MTDR, 1.18 said Tuesday it agreed to pay 1.6 billion as part of an acquisition agreement with oil and gas property owner Advance Energy Partners Holdings LLC from seller EnCap Investments LP, a private equity firm. The deal also includes an initial cash payment of 1.6 billion plus additional 7.5 million for each month during 2023 in which the average oil price as defined in the securities purchase agreement exceeds 85 per barrel. 