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Operator to Suspend Eagle Ford Drilling; Will Maintain Six Rigs in the Permian
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Matador Resources plans to cut/drop the 1 rig the company has working in the Eagle Ford at the end of February.
Will Conclude Eagle Ford Drilling in Mid-February 2019As you might remember, when oil prices spiked back in Q2 of last year, Matador moved a rig into the Eagle Ford to take advantage of the higher prices on the Gulf Coast.
The Company plans to drill two additional Eagle Ford shale wells prior to concluding its South Texas drilling program in mid-February 2019. At that time, Matador intends to release this rig and does not plan to move this rig to the Delaware Basin.
One of the Eagle Ford shale wells in the current program was completed and turned to production during the fourth quarter of 2018, and the remaining eight wells are expected to be completed and turned to sales late…
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