Matador Resources Co. has reported a second quarter 2014 update on its Haynesville Shale (Northwest Louisiana and East Texas) operations.
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During the first quarter of 2014, Matador was notified by Chesapeake of its intent to drill up to a total of 30 gross (6.3 net) Haynesville wells on Matador’s Elm Grove acreage in southern Caddo Parish, Louisiana during 2014. The Company retains the right to participate for up to a 25% working interest in all wells drilled on this property, with its working interest proportionately reduced to the leasehold position in any individual drilling unit.
Chesapeake began actively drilling on these properties during the second quarter of 2014, and, at August 6, 2014, is currently operating four drilling…