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With Untapped Credit Line, Delaware E&P Breaks Own Production Record; Updates Guidance

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With Untapped Credit Line, Delaware E&P Breaks Own Production Record; Updates Guidance

Highlights from Matador's Q1 results and conference call / presentation incude:

Matador has over $200 million in the bank and NOTHING drawn on its line of credit  Total production broke records for Matador with Q1 production of 33,000 boe/d, a 10% increase from the 30,000 boe/d in Q4 The company reported record breaking production in oil Q1 of 18,300 bbl/d, a 17% increase from the 15,700 bbl/d reported from Q4 Matador broke a final record in natural gas production in Q1 with 88.1 mmcf/d, about a 3% increase from the Q4 production of 85.5 mmcf/d Matador updated its guidance after achieving favorable Q1 results. Previous capex guidance was $370 to 390 million. New guidance is $400 - 420 million, or an increase of about 8%. Production guidance was also updated following record breaking…
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