BRIEF-Matador Resources announces formation of JV for Delaware basin midstream assets

Feb 17 (Reuters) - Matador Resources Co

* Matador Resources company announces formation of joint venture for Delaware basin midstream assets

* Matador Resources Co - Matador received $171.5 million in connection with formation of joint venture

* Matador Resources Co - Matador will continue to operate midstream assets and control joint venture

* Matador Resources Co - matador and five point owned 51% and 49% of joint venture, respectively

* Matador Resources Co - five point provided initial cash consideration of $176.4 million to joint venture in exchange for its 49% interest

* Matador Resources - implied value of midstream assets and associated gathering, processing and disposal agreements was approximately $500 million at closing

* Matador Resources Co - Matador also announced its plans to add a fifth operated drilling rig in delaware basin beginning early in q2 of 2017 Source text for Eikon: Further company coverage: