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Matador Ups 2017 Production Outlook; First Wolfcamp D, 2nd Bone Spring IPs
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Matador reported its Q2 2017 results. Highlights include:
Production Record: 36,900 BOEPD in Q2 (a 12% increase from Q1 2017) (53% oil)
RigsRig Plan: Five operated drilling rigs operating in the Delaware Basin throughout 2H17 - however Matador may add a sixth rig by 2018 if it "makes sense for shareholders"
In the conference call, Matador CEO Joe Foran commented: "We can either go to a sixth rig or stay with five depending on what makes most sense for our shareholders. And so those things are being considered right now. We'll have a better answer by towards the end of the third quarter." Guidance Update Increased production guidance: 12.9-13.5 MMBOE (up +4.0% from 12.4-13.0 MMBOE) 2017 Capex remains unchangedDelaware Basin Well Results
First Wolfcamp D Horizontal Well: D. Culbert…
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