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News Breaks
September 27, 2012
07:26 EDTMTDRMatador Resources provides operational update
Matador Resources provided an update on various aspects of its operations. Matador announced that its partner in the Gracie Prospect has agreed to fund 100% of the next $9M of additional exploration and leasehold renewal expenses, in order to acquire 50% of the interest in this prospect, including paying these monies toward a horizontal test of the Meade Peak shale that is scheduled to be drilled later this year in Southwest Wyoming. The test well will be a horizontal lateral drilled out of the Crawford Federal #1 vertical wellbore that was drilled and cored through the Meade Peak shale and then suspended in December 2011 for extensive whole core and petrophysical evaluation. At June 30, 2012, the Company had 107,122 gross and 100,670 net acres prospective for the Meade Peak shale in Southeast Idaho, Southwest Wyoming and Northeast Utah. The company said it is continuing to build its acreage position in the Delaware Basin for the Wolfcamp, Bone Spring and other plays. In August 2012, the company acquired 4,900 gross and 2,900 net acres in the heart of the “Wolfbone” play in Loving County, Texas. Including its existing leasehold interest in the Delaware Basin, Matador now has approximately 5,000 net acres prospective for these and other plays in West Texas and Southeast New Mexico. The Company expects to begin testing this acreage in early 2013. Matador added that it has received written commitments from five banks, including two new lenders, to join its bank group and expects to close an amended and restated credit agreement that will increase its borrowing capacity to $200M from its current borrowing base of $125M based on its June 30, 2012 oil and natural gas reserves estimates.
News For MTDR From The Last 14 Days
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February 3, 2016
06:07 EDTMTDRMatador sees FY16 oil production guidance of 4.9M-5.1M barrels
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06:07 EDTMTDRMatador sees FY16 capital budget $325M, FY16 adjusted EBITDA $120M-$130M
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06:06 EDTMTDRMatador reports 2015-end proved oil and natural gas reserves of 85.1M BOE
Matador announced its proved oil and natural gas reserves were 85.1M barrels of oil equivalent at December 31, 2015, an all-time high for the company and a 24% increase from 68.7 million BOE at December 31, 2014. The present value, discounted at 10%, of the estimated future net cash flows before income taxes of Matador's total proved oil and natural gas reserves at December 31, 2015, was $541.6M, as compared to a PV-10 of $1.04B at December 31, 2014, a 48% year-over-year decrease resulting from declines in oil and natural gas prices between the two periods. At December 31, 2015, Matador's proved oil and natural gas reserves were 40% proved developed reserves, as compared to 45% at December 31, 2014. For the year ended December 31, 2015, Matador's proved oil and natural gas reserves were estimated using an average oil price of $46.79 per barrel and an average natural gas price of $2.59 per million British Thermal Unit, a decrease of 49% and 40%, respectively, as compared to an average oil price of $91.48 per barrel and an average natural gas price of $4.35 per MMBtu used to estimate Matador's proved reserves for the year ended December 31, 2014. Proved oil reserves increased 89% to 45.6 million barrels at December 31, 2015, as compared to 24.2 million barrels at December 31, 2014. Including Matador's 2015 total oil production of approximately 4.5 million barrels, Matador effectively doubled its proved oil reserves year-over-year, despite an almost 50% year-over-year decline in the oil price required to be used to estimate proved oil reserves at December 31, 2015. Matador's proved oil reserves in the Delaware Basin increased almost four-fold to 31.4 million barrels at December 31, 2015, as compared to 8.1 million barrels at December 31, 2014, resulting from the Company's ongoing drilling and completion operations in the Delaware Basin. Proved oil reserves comprised 54% of the Company's total proved reserves at December 31, 2015, as compared to 35% at December 31, 2014. Proved natural gas reserves decreased 11% to 236.9 billion cubic feet at December 31, 2015, as compared to 267.1 billion cubic feet at December 31, 2014. The decline in year-over-year natural gas reserves resulted principally from the reclassification of proved undeveloped natural gas reserves to contingent resources, primarily in the Haynesville shale, as a result of the decline in natural gas prices during 2015. As long as the leasehold acreage associated with these previously classified proved undeveloped natural gas reserves is held by production from existing Haynesville wells, however, these natural gas volumes remain available to be developed by Matador or the operator at a future time should natural gas prices improve, drilling and completion costs decline or new technologies be developed that increase expected recoveries. Matador's natural gas reserves comprised 46% of Matador's total proved reserves at December 31, 2015, as compared to 65% at December 31, 2014.
January 30, 2016
14:52 EDTMTDRMatador to host analyst day
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14:49 EDTMTDRMatador to hold a follow-up conference call to analyst day
Analyst Day follow-up conference call will be held on February 3 at 4:30 pm. Webcast Link

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