Matador Resources Co. (MTDR) closed the sale of its wholly-owned midstream subsidiary to a subsidiary of EnLink Midstream Partners LP, the company said Oct. 1. Matador was paid about $143 million.

Matador’s subsidiary owns natural gas gathering and processing assets in the Delaware Basin in Loving County, Texas. There is a cryogenic natural gas processing plant with about 35 million cubic feet per day of inlet capacity and about six miles of high-pressure gathering pipeline which connects a Matador-owned gathering system to the processing plant.

Matador is dedicating its current leasehold interests in Loving County pursuant to a 15-year, fixed-fee gathering and processing agreement and providing a volume commitment in exchange for priority one service.

Matador is retaining its natural gas gathering system up to a central delivery point and its other midstream assets in the area, including oil and water gathering systems and salt water disposal wells.

With the closing of the transaction, Matador has more than $500 million in liquidity and no draw against its revolving credit facility’s $375 million borrowing base.

Dallas-based Matador Resources Co. develops and produces domestic oil and natural gas.