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Stock Market & Financial Investment News

News Breaks
July 30, 2014
16:12 EDTMTDRMatador provides operational update at Permian Basin
Matador Resources announced the 24-hour initial potential test results of two of its most recent wells completed in the Permian Basin. In the Wolf prospect area of Loving County, Texas, the Norton Schaub #1H well flowed 1,026 BOE per day, including 706 Bbl of oil per day and 1,922 Mcf of natural gas per day, at 69% oil, at 3,000 pounds per square inch, or psi, surface pressure on a 22/64th inch choke during its 24-hour initial potential test in mid-July 2014. Matador drilled a 4,700-ft horizontal lateral in the Norton Schaub #1H and completed this well with 20 frac stages, including approximately 200K Bbl of fluid and 9.8M pounds of sand. In the Ranger prospect area in Lea County, New Mexico, the Pickard State 20-18-34 #1H well flowed 592 BOE per day, including 535 Bbl of oil per day and 340 Mcf of natural gas per day, at 90% oil, at 750 psi surface pressure on a 22/64th inch choke during its 24-hour initial potential test in late July. Matador began 2014 with approximately 70,800 gross acres in the Permian Basin in Southeast New Mexico and West Texas. Between January 1 and July 30, Matador acquired an additional 23,200 gross acres in this area, primarily in Loving County, Texas and in Lea and Eddy Counties, New Mexico. Including these acreage acquisitions at July 30, Matadorís total Permian Basin acreage position is approximately 94K gross acres.
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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