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Jefferies Company Global Energy Conference – Matador Resources Company

Matador Resources Company · Nov 28, 2012 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Jefferies Company Global Energy Conference – Matador Resources Company – slide 1
    Jefferies 2012 Global Energy Conference November 28, 2012
  2. Jefferies Company Global Energy Conference – Matador Resources Company – slide 2
    Continued Growth AVERAGE DAILY OIL TOTAL REALIZED (1) EQUIVALENT PRODUCTION REVENUES ADJUSTED EBITDA (INCLUDING REALIZED GAIN ON DERIVATIVES) 8,838 8,738 77.9 8,023 114.4 7,048 49.9 in millions in millions 74.1…
  3. Jefferies Company Global Energy Conference – Matador Resources Company – slide 3
    Matador History Predecessor Entities Foran Oil & Matador Petroleum Founded by Joe Foran in 1983 Foran Oil funded with 270,000 in contributed capital from 17 friends and family members Sold to Tom Brown, Inc.(1) in June 2003 for an…
  4. Jefferies Company Global Energy Conference – Matador Resources Company – slide 4
    Investment Highlights Strong Growth Profile with Increasing Focus on Oil / Liquids Oil production up almost five-fold in 2011 and projected to increase 8x to 9x in 2012 2012E capital expenditure program focused on oil and liquids…
  5. Jefferies Company Global Energy Conference – Matador Resources Company – slide 5
    Matador Resources Snapshot Daily Production(1) 8,534 BOE/d Oil Production (% total) 2,876 Bbl/d (34%) Proved Reserves 9/30/12 20.9 Million BOE % Proved Developed 61% % Oil 40% (and growing) 2012E CapEx 313 million % Eagle Ford…
  6. Jefferies Company Global Energy Conference – Matador Resources Company – slide 6
    Eagle Ford and Austin Chalk Properties EAGLE FORD ACREAGE TOTALS EAGLE FORD EAST Nickel Ranch 47,956 gross / 29,872 net acres Bexar 7,567 gross / 6,170 net acres Hennig San Antonio Uvalde Medina Gonzales Lewton EOG OPERATED,…
  7. Jefferies Company Global Energy Conference – Matador Resources Company – slide 7
    Recent Production and Financial Highlights Oil production as of mid-November is over 5,000 barrels of oil per day compared to approx. 450 barrels of oil per day, in the fourth quarter of 2011 Record results in Q3 2012 Oil production…
  8. Jefferies Company Global Energy Conference – Matador Resources Company – slide 8
    Transition to Oil TOTAL OIL PRODUCTION OIL BY VOLUME OIL BY REVENUE 788 79% 34% % Total Oil and Natural Gas Revenues % Total Production Volume Thousand Bbl 22% 154 7% 7% 6% 12% 12% 4% 9% 2% 7% 22 37 30 33…
  9. Jefferies Company Global Energy Conference – Matador Resources Company – slide 9
    Eagle Ford Well Costs Averaging 15% Less than 2012 Budget Estimates 14.0 Eastern Acreage Western Acreage 12.0 10.0 Well Cost, millions () 8.0 Budgeted Cost Actual Cost 6.0 4.0 2.0 0.0 1 2 3 4 5 6 7 8 9…
  10. Jefferies Company Global Energy Conference – Matador Resources Company – slide 10
    Eagle Ford Well Estimated ROR as a Function of EUR and Well Cost 200 7.0 90.00/Bbl NYMEX oil; Well Cost, 180 millions 3.00/Mcf NYMEX natural gas 160 8.0 140 Rate of Return, % 120 100 80 10.0 60 12.0 40 20 0…
  11. Jefferies Company Global Energy Conference – Matador Resources Company – slide 11
    Technical Advancements in the Eagle Ford Rotary Steerable Tools Drilling time in curve and lateral reduced by 2 days Measurement While Drilling (MWD) telemetry closer to drill bit Improves ability to stay in sweet-spot Removes sumps…
  12. Jefferies Company Global Energy Conference – Matador Resources Company – slide 12
    South Texas Multi-Pay Petroleum Systems: Upside Potential in Zavala County 8,891 gross / 8,891 net acres 100% Held By Production (HBP) All Rights, All Depths Redhawk Area Matador Resources Acreage Note: All acreage at…
  13. Jefferies Company Global Energy Conference – Matador Resources Company – slide 13
    Emerging Multi-Pay Area in Eagle Ford Oil Fairway and MTDR Acreage San Antonio Multi-Pay Fairway with Pearsall, Austin Chalk and Buda potential OIL FAIRWAY Matador Resources Acreage DRY GAS FAIRWAY Note: All acreage at…
  14. Jefferies Company Global Energy Conference – Matador Resources Company – slide 14
    Haynesville Positioning Highlights Approximately 12,500 gross and 5,800 net acres in Haynesville Tier 1 core area Almost all prospective Haynesville acreage is HBP provides natural gas bank for future development MTDR active…
  15. Jefferies Company Global Energy Conference – Matador Resources Company – slide 15
    Haynesville Well Economics Tier 1 Area 250 8 Bcf - 8.5 MM D&C Cost 225 9 Bcf - 8.5 MM D&C Cost 10 Bcf - 8.5 MM D&C Cost 200 8 Bcf - 9.5 MM D&C Cost 175 9 Bcf - 9.5 MM D&C Cost Rate of Return, % 10 Bcf - 9.5 MM D&C Cost…
  16. Jefferies Company Global Energy Conference – Matador Resources Company – slide 16
    Cotton Valley Horizontal Well Economics 100.0 4.0 Bcf - 6 MM D&C Cost 90.0 5.0 Bcf - 6 MM D&C Cost 6.0 Bcf - 6 MM D&C Cost 80.0 4.0 Bcf - 7 MM D&C Cost 5.0 Bcf - 7 MM D&C Cost 70.0 6.0 Bcf - 7 MM D&C Cost 60.0 ROR, %…
  17. Jefferies Company Global Energy Conference – Matador Resources Company – slide 17
    Southeast New Mexico / West Texas Matador Today Gross Acres(1) 15,528 acres Net Acres(1) 7,534 acres Foothold of existing production and reserves On August 10, 2012, acquired approx. 4,900 gross and 2,900 net acres prospective for…
  18. Jefferies Company Global Energy Conference – Matador Resources Company – slide 18
    Wolfbone Play in the Delaware Basin (West Texas) 17 Matador Resources 42 41 40 39 38 37 42 41 40 39 38 37 4,900 gross / 2,900 net acres 43 44 45 46 47 Wolfcamp 48 20 43 44 10 mo.cum: 45 46 47 48 19 72 MBO, 295 MMcf…
  19. Jefferies Company Global Energy Conference – Matador Resources Company – slide 19
    Wyoming, Utah and Idaho (Meade Peak Shale) Matador Today Gross Acres(1) 65,712 acres WYOMING Net Acres(1) 31,621 acres IDAHO Fremont 2012E CapEx Budget 2.5 million Caribou Sublette Initial test well drilled and cored through the…
  20. Jefferies Company Global Energy Conference – Matador Resources Company – slide 20
    Proved Reserves Value Up Sharply and Shifting to Oil Over Past Year SE New Mexico Cotton Valley SE New Mexico 2.2 million, 1% 9.4 million, 3% 2.2 million, 1% Haynesville Cotton Valley 23.8 million, 7% 23.2 million, 15% Eagle…
  21. Jefferies Company Global Energy Conference – Matador Resources Company – slide 21
    Hedging Profile Oil Hedges (Costless Collars) 4Q 2012 FY 2013 Total Volume Hedged by Ceiling (Bbl) 360,000 1,260,000 Weighted Average Price ( / Bbl) 110.31 110.26 Total Volume Hedged by Floor (Bbl) 360,000 1,260,000 Weighted…
  22. Jefferies Company Global Energy Conference – Matador Resources Company – slide 22
    Appendix
  23. Jefferies Company Global Energy Conference – Matador Resources Company – slide 23
    Adjusted EBITDA Reconciliation The following table presents our calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of net (loss) income and cash provided by operating activities,…
  24. Jefferies Company Global Energy Conference – Matador Resources Company – slide 24
    Adjusted EBITDA Reconciliation (Cont.) The following table presents our calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of net (loss) income and cash provided by operating activities,…
  25. Jefferies Company Global Energy Conference – Matador Resources Company – slide 25
    PV-10 Reconciliation PV-10 is a non-GAAP financial measure and generally differs from Standardized Measure, the most directly comparable GAAP financial measure, because it does not include the effects of income taxes on future net…

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