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Stock Market & Financial Investment News

News Breaks
October 10, 2012
07:03 EDTMTDRMatador Resources increases credit facility
Matador Resources announced that MRC Energy Company, a wholly-owned subsidiary of the Company, closed an amended and restated senior secured revolving credit agreement on September 28. Under the Credit Agreement, the borrowing base was increased to $200M, up from the previous borrowing base of $125M. The amendment increased the maximum facility size from $400M to $500M and named Royal Bank of Canada as Administrative Agent. The Credit Agreement matures in December 2016. The Company plans to use the increased borrowing capacity along with its operating cash flows for working capital and general corporate purposes and, in particular, to continue to execute its Eagle Ford drilling program in South Texas.
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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