Five Point Energy will form of a new strategic joint venture, San Mateo Midstream II, in partnership with a wholly-owned subsidiary of Matador Resources Company. San Mateo II is the second midstream partnership between Five Point and Matador and, similar to San Mateo Midstream I, will provide natural gas gathering and processing, crude oil gathering, and produced water gathering and disposal solutions to E&Ps throughout the Northern Delaware Basin. At closing, Five Point and Matador owned 49% and 51% of the JV, respectively, and the Midstream Assets will be operated by the existing San Mateo midstream team. David Capobianco, Chief Executive Officer and Managing Partner of Five Point Energy, said, "The ongoing success of our JV with Matador exemplifies Five Point's strategy of proactively identifying industry leading management teams to partner with and build out world-class midstream infrastructure companies. The Delaware remains one of the most promising producing basins in North America, yet it lacks sufficient permanent 'in-basin' midstream infrastructure. Five Point's portfolio companies, including San Mateo Midstream, WaterBridge, EVX and Twin Eagle, are providing critical midstream infrastructure solutions for third party producers, with unparalleled offerings and innovation."