Company Overview Completed IPO of 14,883,334 shares (12,209,167 primary) including overallotment at 12.00/share in March 2012 and Follow-on Offering of 9,775,000 shares including overallotment at 15.25/share in September 2013…
Matador History Predecessor Entities Foran Oil & Matador Petroleum Founded by Joe Foran in 1983 most participants are still shareholders today. Foran Oil funded with 270,000 in contributed capital from 17 friends and family…
Matadors Continued Growth TOTAL OIL AND (1) (1) (1)(2) TOTAL OIL PRODUCTION NATURAL GAS REVENUES ADJUSTED EBITDA 2,050 260.0 185.0 115.9 Thousand Bbl 156.0 in millions in millions 1,214 67.0 49.9 30.6…
Matador Execution History IPO (February 7, 2012) vs. Today What we said at IPO Metric At IPO(1) What weve done Today(7) 7.1 MBOE/d 13.5 MBOE/d 16x growth in Production 414 Bbl/d of oil 6,700 Bbl/d of oil oil production 6% oil 50%…
Matador Resources Company Overview Total Enterprise Value(1) Over 1.5 billion Average Daily Production(2) 11,663 BOE/d Oil (% total) 5,584 Bbl/d (48%) Natural Gas (% total) 36.5 MMcf/d (52%) Proved Reserves 9/30/2013 44.2…
Investment Highlights Strong Growth Profile Average daily production CAGR of 54% since 2008 with 16x growth in oil production since IPO with Increasing Focus on Oil / Liquids 97% of 2013E capital expenditure program focused on oil /…
Growth in PV-10(1) from SEC Proved Reserves 600 91.69 oil 550 SEC Pricing 3.61 gas Oil, /Bbl Gas, /MMBtu 500 91.21 oil 450 2.76 gas PV-10(1), millions 400 350 300 92.71 oil 4.12 gas 250 200 75.96 oil 150…
SEC Proved Reserves Value Growth By Area Cotton Valley SE New Mexico 10.0 million, 2% 4.1 million, 1% Cotton Valley SE New Mexico 5.9 million, 1% 2 million, 1% Haynesville Cotton Valley SE New Mexico 45.2 million, 8% 19.5…
Eagle Ford South Texas
Significant Eagle Ford Exposure Overview Operations Summary Continuing a two-rig program in the Eagle Ford Proved Reserves 9/30/2013 17.9 million BOE Significantly reduced number of days to drill wells (days on wells) % Proved…
Eagle Ford Properties EAGLE FORD ACREAGE TOTALS EAGLE FORD EAST Nickel Ranch 38,756 gross / 26,981 net acres Bexar 7,570 gross / 6,360 net acres Hennig San Antonio Uvalde Medina Gonzales Lewton EOG OPERATED, MTDR WI 21%…
Eagle Ford Well Costs and Estimated Ultimate Recovery (EUR) Nickel Ranch EAGLE FORD EAST (p. 19) Hennig Well Costs: 8-10 million EUR: 600-1,000 MBOE Uvalde Medina Gonzales San Antonio Lewton Keseling Love Wilson Cowey…
Operational Improvements Overview Eagle Ford Drilling Days(1) West Central East Experience in the Eagle Ford has led to significant 19.2 20.1 24.7 reductions in drilling days and well costs 18.8 18.9 Drilling from four-well batch…
Eagle Ford West 8,000 9,000 True Vertical Depth 2-String Casing Design 240F White Sand (1) (2) DRILLING DAYS FRAC STAGE COST TOTAL WELL COST ( in thousands) ( in millions) 247.9 9.9 19.2 7.8 6.5 12.6 11.3 5.6 126.2…
Eagle Ford Central 10,500 11,500 True Vertical Depth 2-String Casing Design 300F White Sand (1) (2) DRILLING DAYS FRAC STAGE COST TOTAL WELL COST ( in thousands) ( in millions) 11.0 159.5 20.1 9.4 18.8 130.1 121.2 120.9…
Eagle Ford East 12,500 13,500 True Vertical Depth 2-String or 3-String Casing Design 330F Premium Proppant(3) (1) (2) DRILLING DAYS FRAC STAGE COST TOTAL WELL COST ( in thousands) ( in millions) 219.7 10.4 24.7 183.5 8.3…
Batch Drilling Reducing Well Costs and Well Times Further Four-Well Batch Drilled Pad vs. Single Well Pad Time Savings Rig Moves 2 Days Drilling Efficiencies 1 Day Total Per Well Time Savings 3 Days Cost Savings Rig Moves…
Evolution of Matador Frac Design Note: Figure depicts proppant and fluid volume pumped per 300 ft. of horizontal wellbore. (1) Mlbs = thousands of pounds of proppant pumped. 21
Well Improvement with Evolution of Frac Design Example 1: Rate(1) vs. Cum. Oil Production Example 2: Rate(1) vs. Cum. Oil Production 1,000 800 900 Second Generation Frac Design (DOFP: 3/17/12) 700 Second Generation Frac Design…
Permian Basin Southeast New Mexico and West Texas
Increasing Exposure to the Permian Gross Acres(1) 64,893 acres Net Acres(1) 40,425 acres Foothold of existing production and reserves Acreage position in good neighborhoods, surrounded by other operators ongoing drilling INDIAN…
Ranger Prospect Area: Proposed Wolfbone Multi-Zone Exploration Program and Surrounding Results Devon Ironhouse 19 State 1H Location of Matador 2nd Bone Spring 2013 test wells IP: 603 Bbl/d; 298 Mcf/d 3 mo. Cum: 20 MBbl; 12 MMcf…
Wolf Leasehold: Proposed Wolfbone Multi-Zone Exploration Program and Surrounding Results Location of Matador 2013 test wells Shell Shell Shell Johnson 1-86 (1H) Johnson 1-88 Lov 1H Johnson 1-76 (1H) Wolfcamp Wolfcamp Bone Spring /…
Haynesville & Cotton Valley Northwest Louisiana and East Texas
Haynesville Total Resource Potential Price Sensitivity 900 Haynesville - Tier 2 (Undrilled), millions 800 101 Haynesville - Tier 1 (Undrilled), millions 700 Haynesville Proved Producing, millions 600 PV-10(1) , millions…
Gracie Wyoming, Utah and Idaho
Matador Gracie Project Total Prospect Acreage WYOMING IDAHO UTAH WYOMING IDAHO UTAH Crawford Federal 1H 76,497 gross acres 36,004 net acres WYOMING Note: All acreage at November 6, 2013. Matador acreage shown in…
Southwest Wyoming Stratigraphy and Target Zones Crawford Federal 1: Drilled straight hole in late 2011 2% TOC Cretaceous Shales Encountered 161 Meade Peak with 46 of main pay Recovered 50 conventional core across pay zone…
Financial Overview
Matadors Continued Growth Average Daily Production(1) Oil Production Mix(1) (MBOE/d) (% of Average Daily Production) 11.7 48% 9.0 37% 7.0 3.9 2.3 1.5 7% 6% 4% 2% 2008 2009 2010 2011 2012 First 9 mo. 2008 2009 2010…
2013 Financial Guidance 2013 Oil and Natural Gas Revenues(1) Oil and Natural Gas Revenues(1) (millions) 300.0 (3) Estimated oil and natural gas revenues of 250 260.0 to 270 million 250.0 Mid-point is an increase of 67% from 156.0…
2013 and 2014 Hedging Profile Oil Hedges (Costless Collars) At November 6, 2013, Matador had: 2013 2014 Total Volume Hedged by Ceiling (Bbl) 264,400 2,294,000 0.3 million barrels of oil hedged for Weighted Average Price ( / Bbl)…
Appendix
Proven Management Team Experienced Leadership Industry Matador Management Team Background and Prior Affiliations Experience Experience Joseph Wm. Foran - Matador Petroleum Corporation, Foran Oil Company and 33 years Since Inception…
Board of Directors and Special Board Advisors Expertise and Stewardship Board Members Professional Experience Business Expertise and Advisors - Professor Emeritus and Former Head of Dept. of Petroleum Engineering, Texas A&M University…
Southwest Glasscock Ranch Buda Production History Dan Hughes Haley 1H Global Geophysical 3D Seismic Survey Area Outline 6 mo.cum: 4,310 Bbl 12,409 Mcf TX American Dan Hughes Dan Hughes TX American US Enercorp Resources Heitz 302…
Adjusted EBITDA Reconciliation The following table presents our calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by operating activities,…
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