Selected Financial Measures Matador Resources Company (In thousands) 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 Net (loss) incom e attributable to Matador Resources Com pany Shareholders (27,596) 7,153 6,194…
Company Summary NYSE: MTDR
Matador Resources Company Overview Exchange: Ticker NYSE: MTDR Shares Outstanding(1) 108.4 million common shares Share Price(1) 28.83/share Market Capitalization(1) 3.1 billion Actual March 23, 2017 August 2, 2017 Updated…
Matador Resources Company Overview (Cont.) Market Capitalization(1) 3.1 billion Avg Daily Production Q3 2017(2) 42,000 BOE/d 43%* 13% of total production Oil (% total) 23,500 Bbl/d (56%) 57%* Almost no oil 30% of total natural…
Matador Has Made Tremendous Progress Since its IPO At IPO(1): February 7, 2012 Today(2) Difference 414 Bbl/d 23,500 Bbl/d Oil Production +57-fold (6% oil) (56% oil) 27 MMBOE 146 MMBOE +5-fold Proved Reserves (4% oil) (57% oil)…
Q3 2017 Oil, Natural Gas and Total Production Volumes At Record Levels Average Daily Oil Production Average Daily Natural Gas Production (Bbl/d) (MMcf/d) 23,538 Oil up 21% sequentially in Q3 2017; 57% YoY Natural gas up 5% sequentially…
Matadors Proved Reserves 146 Million BOE at September 30, 2017(1) Haynesville/CV Haynesville/CV 11.8 MMBOE, 8% Haynesville/CV 13.1 MMBOE, 12% 13.4 MMBOE, 13% Eagle Ford Eagle Ford Eagle Ford 13.3 MMBOE, 13% 11.4 MMBOE, 8% 14.2…
Committed to Maintaining Strong Balance Sheet Preserved and enhanced liquidity through October 2017 equity offering, December 2016 equity and senior notes offerings and February 2017 San Mateo midstream joint venture Strong financial…
Operations and Delaware Basin Update NYSE: MTDR
Delaware Basin Acreage Position and Recent Operations and Results TWIN LAKES Running five rigs in the Delaware Basin Cimarex State LF 32-5 2H 46,300 gross / 34,900 net acres Wolfcamp D test at Twin Lakes 2-mile lateral 6th rig…
Quality Acreage Additions Throughout 2017 TWIN LAKES Permian acreage position includes 46,300 gross / 34,900 net acres 201,100 gross (115,700 net) acres, almost all in the Delaware Basin ARROWHEAD 57,200 gross / 23,500 net acres…
Delaware Basin Inventory Continues to Increase Matador has identified up to 4,234 gross (1,784 net) potential locations(1) for future drilling (only locations yet to be drilled) on its Delaware Basin acreage net identified locations up…
Favorable Finding and Development Costs Compared to Permian Peers Finding and Development Costs Drill Bit Only Finding and Development Costs All-in For the Year Ended December 31, 2016 (/BOE) For the Year Ended December 31, 2016…
Delaware Basin Now Most Significant Component of Matadors Production Oil Production Q3 2017 Total Production Q3 2017 Natural Gas Production Q3 2017 Delaware Basin comprised 73% of Matadors total production in Q3 2017,…
Significant Delaware Basin Production Growth in Last Four Years Total Production Oil Production Delaware Basin (MBOE) Delaware Basin (MBbl) BOE Production Oil Production Average Daily Total Production Average Daily Oil…
2017 Operational Efficiencies Mitigate Increasing Service Costs 12.0 Efficiencies 12.0 Drilling and completion cost history for Wolfcamp wells drilled in Wolf asset area 11.0 44% 10.0 Service Costs Drilling and Completion Costs,…
Technology Innovations and Continued Improvement in Best Practices Should Continue to Reduce Drilling Times in the Delaware Basin Wolfcamp A-XY Wells, Loving County, TX 2nd Bone Spring Wells, Lea County, NM(1) 2014 Average 2014 Average…
Continuing Evolution of Delaware Basin Frac Design Reservoir Specific 300 ft Gen 1 Gen 2 Gen 3 1st Bone 50 ft Spring 2,000 lbs/ft 1,333 lbs/ft 2,000 lbs/ft* 600 Mlbs 2nd Bone 40 Bbl/ft 20 Bbl/ft 40 Bbl/ft Spring 12,000 Bbl 50 ft…
Latest Design Change Reduction in Perf Cluster Spacing 210 ft. Current Cluster Spacing 35 ft. Longer propped frac lengths 630 Mlbs 8,400 Bbl 40 Bbl/ft 3,000 lbs/ft High Density Cluster Spacing Length = 120 ft. Length =…
Improved Efficiencies in Hydraulic Fracturing Simultaneous Operations Wireline and fracturing operations conducted simultaneously on opposing and/or parallel wells Well A Can be done with multiple wellbores Used for fracturing…
Water Recycling Impacts Both Completion and Production Operations Assists fresh water sourcing and improves pricing Wolf Asset Area Treated Water Loving County, Texas West Texas/New Mexico recycling capabilities Transfer Line…
Delaware Basin Asset Areas NYSE: MTDR
The Strength of the Northern Delaware Basin: More Targets in the Thermal Maturity Window; Better Reservoir Rock N. S. Several of the better targets only occur in the Northern Delaware Basin, e.g., Wolfcamp A-X, Y and Z sand…
Rustler Breaks Asset Area Eddy County, New Mexico Michael Collins 208H Joe Coleman 208H Guitar 205H 24-hr IP: 1,534 BOE/d (76% oil) 24-hr IP: 1,779 BOE/d (75% oil) 24-hr IP: 1,155 BOE/d (75% oil) Asset Summary and Recent Highlights…
Rustler Breaks Asset Area: Target Optimization and New Potential New core and log data have helped to: 1. Optimize targeting in the Wolfcamp B (B Upper, B Middle and Blair), the Y Sand (Wolfcamp A) and the 2nd Bone Spring Sand (yellow…
Rustler Breaks Asset Area Improving Well Performance Average 2016 EUR 800 MBOE; several wells outperforming 900 MBOE type curve Average 2016 EUR 1,000 MBOE; several Wolfcamp B (Blair) wells outperforming 1,200 MBOE type…
Rustler Breaks Asset Area Estimated Returns Development EUR(3) Range Formation Well Cost(1)(2) % Oil (MBOE) (millions) Wolfcamp A-XY 5.5 6.5 600 900 70 80% Wolfcamp B 5.5 6.5 1,000 1,200 30 40% Rustler Breaks Wolfcamp AXY (75%…
Rustler Breaks Asset Area Multi-Pay Development Potential Michael Collins 208H Joe Coleman 208H Guitar 205H Rustler Breaks Asset Area Development Potential 24-hr IP: 1,534 BOE/d (76% oil) 24-hr IP: 1,779 BOE/d (75% oil) 24-hr IP: 1,155…
Antelope Ridge Asset Area New Acreage and New Opportunities Bilbrey 33 Federal 4H Cabra Loca B3OB 1H Asset Summary and Highlights Devon Mewbourne 27 month cum: 300 MBOE (75% oil) 26 month cum: 271 MBOE (85% oil) Approximately 12,100…
Wolf and Jackson Trust Asset Areas Loving County, Texas Asset Summary and Recent Highlights WOLF / JACKSON TRUST (LOVING) 13,600 gross / 9,300 net acres Approximately 13,600 gross (9,300 net) acres Producing from four primary…
Wolf Asset Area: New Tests, Target Optimization and Future Potential New core and log data have helped to: 1. Identify at least two new targets in the Wolfcamp B and landing zones in both the Upper and Lower Avalon Testing the Wolfcamp…
Wolf Asset Area Improving Well Performance Wolfcamp A-XY (65% Oil) 2nd Bone Spring (60% Oil) 400 250 Most 2016 EURs approaching 700 MBOE; 2016 EURs typically between 50% improvement over 2015 800 and 900 MBOE 350 200 Cumulative…
Wolf Asset Area Matador Wolfcamp Results Among the Best Wells Drilled Top 1% Matador Average Well Top 10% in Top 20% - many above Matador Average Well Cumulative Frequency in Top 20% - many above 50% Probability…
Wolf Asset Area Estimated Returns Development EUR(3) Range Formation Well Cost(1)(2) % Oil (MBOE) (millions) 2nd Bone Spring 4.5 5.0 500 700 60% Wolfcamp A-XY 5.5 6.5 750 1,250 65% Wolfcamp AXY (65% Oil) 2nd Bone Spring (60%…
Wolf/Jackson Trust Asset Areas Multi-Pay Development Potential WOLF / JACKSON TRUST (LOVING) Wolf/Jackson Trust Development Potential 13,600 gross / 9,300 net acres Over 400 gross potential drilling locations over 90% operated by…
Arrowhead and Ranger Asset Areas Eddy and Lea Counties, NM 1st Bone Spring 2nd Bone Spring 3rd Bone Spring Wolfcamp A Wolfcamp D Leo 15 B2DH Fed 1H Mewbourne Airstrip State Com 132H 280 MBbl in first 23 months Matador 24-hr IP: 1,263…
3rd Bone Spring Opportunities Near Mallon Leasehold Airstrip State Com 132H 3rd Bone Spring Potential Near Mallon Leasehold Matador Acreage Matador 24-hr IP: 1,263 BOE/d (93% oil) Strong 3rd Bone Spring offset well production near…
Matadors First Operated 2nd Bone Spring Test in Arrowhead a Success Strong 2nd Bone Spring potential around Stebbins Leasehold Baroque BTQ Fed Com 1H Yates Petroleum (EOG) Approximately 2,500 gross contiguous acres providing: 340 MBbl…
Additional 3rd Bone Spring Sand Potential in the Northern Delaware Basin Thick Additional 3rd Bone Spring Potential 0 500 ft Mallon wells confirm potential of 3rd Bone Stebbins wells - Mallon wells Spring sand in the Northern…
Ranger Asset Area Multi-Well Development Potential Airstrip 132H Matador Ranger Development Potential 24-hr IP: 1,263 BOE/d (93% oil) Iggles State Com 1H Airstrip 201H Over 400 gross potential drilling locations approximately Concho…
Arrowhead Asset Area Multi-Well Development Potential Matador Acreage Arrowhead Development Potential Approximately 850 gross potential drilling locations approximately 40% potentially operated by Matador CTA State 3H, 4H, 5H & 6H…
Ranger/Arrowhead Asset Areas Estimated Returns Development EUR(3) Range Formation Well Cost(1)(2) % Oil (MBOE) (millions) 2nd Bone Spring 5.0 6.0 500 700 85 95% 3rd Bone Spring 5.5 6.5 500 700 85 95% Ranger/Arrowhead 2nd Bone…
Testing New Oil Shale Play in Twin Lakes Asset Area Lea County, NM Pennsylvanian-Lower Wolfcamp D Oil Shale Porous Intervals 8% Super-charged area having produced 1.3 billion Bbl oil and 2.2 trillion cubic feet natural gas Wolfcamp D…
Midstream Operations NYSE: MTDR
Longwood Gathering and Disposal Systems(1) San Mateo Midstream, LLC Wolf Loving County, TX Natural gas gathering Water gathering Salt water disposal Oil gathering Rustler Breaks Eddy County, NM Natural gas gathering Natural…
Midstream Joint Venture Overview February 2017 Equity: Owns 51% equity interest Equity: Owns 49% equity interest Special Distribution: Received 171.5 million Contribution: Contributed 171.5 million plus capital commitment of 73.5…
San Mateo Operations and Assets Wolf Loving County, TX Rustler Breaks Eddy County, NM - Natural gas gathering - Natural gas gathering and compression - Water gathering - Cryogenic natural gas processing plant - Salt water disposal -…
2017 Capital Investment Plan NYSE: MTDR
2017 Rig Schedule Running five rigs drilling oil and natural gas wells in the Delaware Basin 6th rig drilling primarily salt water disposal wells in Rustler Breaks asset area for San Mateo of Operated Rigs Drilling Oil and Gas Wells…
Matadors 2017 Operated Drilling Program on Plan; Q3 Key Well Results TWIN LAKES Cimarex State LF 32-5 2H 46,300 gross / 34,900 net acres Wolf/Jackson Trust Wolfcamp D test at Twin Lakes 2-mile lateral 18 gross (12.6 net) wells in…
2017 Oil and Natural Gas Production Estimates(1) 2017E Oil Production 52% Growth YoY Total Oil and Natural Gas Production 2017E CapEx(2) (Midpoint): Estimated oil production of 7.7 to 7.75 million barrels D/C/E: 452.5 MM…
2017 Oil and Natural Gas Production and Adjusted EBITDA Estimates(1) 2017E Oil Production 52% Growth YoY Total Oil and Natural Gas Production 2017E CapEx(2) (Midpoint): Estimated oil production of 7.7 to 7.75 million barrels D/C/E:…
Hedging Profile Remainder of 2017 Hedges(1) Oil (WTI): 0.8 million barrels hedged for remainder of 2017 at weighted average floor and ceiling prices of 45/Bbl and 56/Bbl, respectively Natural Gas: 4.2 Bcf hedged for remainder of 2017…
Credit Agreement Status Borrowing Base Increased to 525 Million Strong, supportive bank group led by Royal Bank of Canada (group includes eight banks) Borrowing base increased to 525 million in late October 2017 based on June 30, 2017…
Summary and 2017 Guidance (as Revised on November 6, 2017) Ran 4 rigs in the Delaware Basin in Q1 2017 and added 5th Delaware Basin rig in April; plan to run 5 rigs in the Delaware Basin throughout the remainder of 2017 Approximately 3…
Appendix NYSE: MTDR
Excellent Initial Test Results from Five-Well Eagle Ford Drilling Program Finished drilling and completion operations on five gross (5.0 net) well Eagle Ford shale drilling program Wells tested at 24-hr IPs ranging from 1,100 to 1,700…
Haynesville Shale, North Louisiana Natural Gas Bank 2016 Haynesville Non-Op Program Elm Grove Development Chesapeake Operated 11 gross (2.1 net) wells turned to sales by Anticipated Chesapeake in early 2016 Future Wells Included 9…
Significant Transactions in Northern Delaware Basin Since Matador/HEYCO Merger in February 2015 Over 600,000 Net Acres WPX Energy Acquires RKI E&P Approx. 92,000 net acres EOG Acquires Yates Petroleum Approx. 186,000 net acres July…
Board of Directors Expertise and Stewardship Board Members Professional Experience Business Expertise - Vice President / Engineering and Co-founder, North Plains Energy, LLC Reynald A. Baribault Oil and Gas Exploration & - President…
Special Board Advisors and Special Advisors Expertise and Stewardship Advisors Professional Experience Business Expertise - Retired President, ARCO International Marlan W. Downey - Former President, Shell Pecten International Oil and…
Proven Management Team Experienced Leadership Industry Matador Management Team Background and Prior Affiliations Experience Experience Joseph Wm. Foran - Matador Petroleum Corporation, Foran Oil Company, 36 years Since Inception…
Proven Management Team Experienced Leadership (Cont.) Industry Matador Management Team Background and Prior Affiliations Experience Experience Matthew D. Spicer - L-3 Technologies, United States Marine Corps 3 years Since 2014 VP…
Adjusted EBITDA Reconciliation This investor presentation includes the non-GAAP financial measure of Adjusted EBITDA. Adjusted EBITDA is a supplemental non- GAAP financial measure that is used by management and external users of the…
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 income (loss) and net cash provided by operating…
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 income (loss) and net cash provided by operating…
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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