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Matador Improves Permian Drill Times; IDs Key Wells; Pauses Eagle Ford Ops
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Matador Resources Company reported financial and operating results for the three and nine months ended September 30, 2015.
Key Points: At the beginning of 2015, Matador was operating five drilling rigs, two rigs in the Eagle Ford and three rigs in the Permian (Delaware) Basin, but reduced the number of operated drilling rigs from five to two by the end of the first quarter of 2015. During the third quarter of 2015, Matador completed and began producing oil and natural gas from 11 gross (4.7 net) wells in the Permian Basin The Company’s focus on improving drilling times and operational efficiencies has cut drilling times by as much as 50% or more on recent Wolfcamp wells in the Wolf and Rustler Breaks prospect areas The White City #5H and White City #6H wells, both tested between 1,100…- ✓ Full news archive — U.S., Canada & international coverage
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