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 3,941…
Company Summary NYSE: MTDR
Matador Resources Company Company Overview Market Capitalization(1) 3.3 billion Avg Daily Production Q1 2018(2) 45,300 BOE/d 37%* 9% of total production Oil (% total) 26,500 Bbl/d (58%) 44%* Almost no oil 23% of total natural…
Matador Has Made Tremendous Progress Since its IPO We Do What We Say We Will Do At IPO(1): February 7, 2012 Today(2) Difference Share Price 12.00 28.07(3) +134% Oil Price 98.41 67.04(4) -32% 414 Bbl/d 26,500 Bbl/d Oil…
Q1 2018 Oil and Total Production Volumes At Record Levels Average Daily Oil Production Average Daily Total Production (Bbl/d) (MBOE/d) Oil up 7% sequentially; up 44% YoY 26,465 45,273 BOE up 4% sequentially; up 37% YoY…
Committed to Maintaining Strong Balance Sheet Preserved and enhanced liquidity through May 2018 equity offering, October 2017 equity offering and February 2017 San Mateo midstream joint venture Strong financial position and…
Operations and Delaware Basin Update NYSE: MTDR
Building Delaware Basin Position One Brick at a Time 2012 2014 2016 Today(1) 7,500 Net Acres 65,000 Net Acres 94,700 Net Acres 115,000 Net Acres EDDY LEA LEA LEA LEA EDDY EDDY EDDY LOVING LOVING LOVING LOVING Matador…
Delaware Basin Acreage Position and Recent Operations and Results Cimarex State LF 32 5 2H TWIN LAKES 43,500 gross / 31,800 net acres Running six rigs in Delaware Basin Wolfcamp D test at Twin Lakes 24-hr IP: 977 BOE/d (84% oil)…
Delaware Basin Inventory Continues to Increase Matador has identified up to 4,630 gross (1,958 net) potential locations(1) for future drilling (only locations yet to be drilled) on its Delaware Basin acreage net identified locations up…
Permian Basin Production Growth Compares Favorably vs. Peers Total Production Oil Production Delaware Basin (MBOE) Delaware Basin (MBbl) BOE Production 3,344 Oil Production 2,103 3,207 1,933 2,825 1,719 2,514 1,515 2,208 1,412…
Continuing to Drill Wells More Efficiently 1,200 84 In 2017, Matador Drilled Over One Million Feet at 77 the Fastest ROP(1) Achieved by the Company 1,030 72 72 1,000 60 60 800 Rate of Penetration, ft/hr Drilling Footage,…
Efficiency Improvements in Completion Operations 1,400 2,000 Two Key Factors Driving 2017 Efficiency(1) 1,800 1,200 4-fold increase 44% in multi-well pads Total Proppant Usage (million lbs) 3-fold increase in 2nd crew…
Matador Delaware Basin Frac Design Evolution Reservoir Specific Gen 1 Gen 2 Gen 3 Testing 2,000 lbs/ft 1,333 lbs/ft 2,000 lbs/ft 3,000 lbs/ft 40 Bbl/ft 20 Bbl/ft 40 Bbl/ft 40 Bbl/ft 50 ft cluster 75 ft cluster 50 ft cluster 35 ft…
Increasing Use of Recycled Water in Stimulation Operations 2015 Implemented Delaware Basin Creates significant source of frac water with water recycling program ability to treat 50,000 Bbl/day at single site 44% May 2018 Have…
Delaware Basin Asset Areas NYSE: MTDR
Expanding Opportunities in the Northern Delaware Basin Matador has been identifying new opportunities in the Northern Delaware Basin and has tested, or participated in testing, 16 discrete intervals across its acreage position 19
Rustler Breaks Asset Area Eddy County, New Mexico Michael Collins 206H Miss Sue 202H Jim Tom Lontos 201H 24-hr IP: 1,312 BOE/d (77% oil) 24-hr IP: 1,343 BOE/d (78% oil) 24-hr IP: 1,403 BOE/d (77% oil) Asset Summary and Recent…
Rustler Breaks Asset Area Estimated Returns 2018 Estimated EUR(3) Range Formation Well Cost(1)(2) % Oil (MBOE) (millions) Wolfcamp A-XY 6.5 - 7.5 600 900 70 80% Wolfcamp B 7.0 - 8.0 1,000 1,200 30 40% Rustler Breaks Wolfcamp…
Rustler Breaks Asset Area Multi-Pay Development Potential Michael Collins 206H Miss Sue 202H Jim Tom Lontos 201H Rustler Breaks Asset Area Development Potential 24-hr IP: 1,312 BOE/d (77% oil) 24-hr IP: 1,343 BOE/d (78% oil) 24-hr IP:…
Rustler Breaks Asset Area 2018 Drilling Program Rustler Breaks 2018 Drilling Program RUSTLER BREAKS 41,900 gross / 21,800 net acres Planning to run 3 rigs; primary focus on Wolfcamp A-XY and Wolfcamp B intervals Expected to drill and…
Antelope Ridge Asset Area Off to a Strong Start Tour Bus 23 St 502H Asset Summary and Highlights EOG (Centennial acquired) 21 month cum: 206 MBOE (81% oil) Approximately 13,000 gross (9,600 net) acres in area of Gettysburg St Com 1H…
Antelope Ridge Asset Area Estimated Returns Estimated 2018 EUR(3) Range Formation Well Cost(1)(2) % Oil (MBOE) (millions) Wolfcamp A (All Targets) 7.5 - 8.5 700 900 75 85% Antelope Ridge Wolfcamp A (All Targets) 80% Oil 200…
Antelope Ridge Asset Area Multi-Pay Development Potential Tour Bus 23 St 502H Antelope Ridge Asset Area Development Potential EOG (Centennial acquired) 21 month cum: 206 MBOE (81% oil) Over 500 well locations almost 70% potentially…
Antelope Ridge Asset Area 2018 Drilling Program Tour Bus 23 St 502H Antelope Ridge 2018 Drilling Program EOG (Centennial acquired) 21 month cum: 206 MBOE (81% oil) Planning to run one rig throughout 2018 Gettysburg St Com 1H…
Wolf and Jackson Trust Asset Areas Loving County, Texas WOLF / JACKSON TRUST Asset Summary and Recent Highlights 13,600 gross / 9,600 net acres Approximately 13,600 gross (9,600 net) acres Added 200 strategic net acres YTD Toot…
Wolf and Jackson Trust Asset Areas Estimated Returns 2018 Estimated EUR(3) Range Formation Well Cost(1)(2) % Oil (MBOE) (millions) Wolfcamp A-Lower 7.0 8.0 750 1,000 80% Wolfcamp A-XY 6.5 7.5 750 1,250 65% Wolf Wolfcamp A-XY…
Wolf and Jackson Trust Asset Areas Multi-Pay Development Potential WOLF / JACKSON TRUST Wolf/Jackson Trust Development Potential 13,600 gross / 9,600 net acres Over 400 gross potential drilling locations(1) 100% operated by…
Wolf and Jackson Trust Asset Areas 2018 Drilling Program Planning to run one rig throughout 2018 primary focus on Wolfcamp A-XY interval in Wolf asset area Wolf Asset Area Conduct first tests of Wolfcamp B interval in Jackson Trust…
Arrowhead and Ranger Asset Areas Eddy and Lea Counties, NM 1st Bone Spring 2nd Bone Spring 3rd Bone Spring Wolfcamp A-XY Wolfcamp A-Lower Wolfcamp D Leo 15 B2DH Fed 1H Airstrip 132H Mewbourne Matador 315 MBbl in first 36 months 24-hr…
Arrowhead and Ranger Asset Areas Estimated Returns Development EUR(3) Range Formation Well Cost(1)(2) % Oil (MBOE) (millions) 2nd Bone Spring 6.0 7.0 600 800 70 90% 3rd Bone Spring 6.5 7.5 500 700 85 95% Arrowhead 2nd Bone…
Arrowhead Asset Area Multi-Well Development Potential 2nd Bone Spring 3rd Bone Spring Arrowhead Development Potential CTA State 3H, 4H, 5H & 6H Concho Approximately 920 gross potential drilling locations(1) Averaged 956 BOE/d (85%…
Ranger Asset Area Multi-Well Development Potential Airstrip 133H Matador 24-hr IP: 1,008 BOE/d (92% oil) Matador Acreage Ranger Development Potential Iggles State Com 1H Over 500 gross potential drilling locations(1) Concho Tested…
Arrowhead and Ranger Asset Areas 2018 Drilling Program 2nd Bone Spring 3rd Bone Spring Wolfcamp A-XY Airstrip 132H SST 6 State 123H and 124H Matador Matador 24-hr IP: 1,263 BOE/d (93% oil) 24-hr IP: 2,056 BOE/d (85% oil) 24-hr IP:…
Twin Lakes Asset Area Lea County, New Mexico NE Kemnitz 233H State LF 30 4H Reed 24 25 B State 1H (permit) D. Culbertson State 234H Olivine 5-16-37 TL State 1 Matador Cimarex, Wolfcamp D Continental Matador, Wolfcamp D Matador…
San Mateo Midstream Operations and Plans
San Mateo Asset Overview Gas Gathering and Processing Water Gathering and Disposal Oil Gathering and Transportation 260 MMcf/d of designed natural gas 6 salt water disposal wells and 44 miles(1) 2 miles(1) of oil gathering pipeline…
Significant Growth in Delaware Midstream Business in Last Three Years Q1 2016 Q1 2017 Q1 2018 Growth(1) Designed Water Disposal 25,000 Bbl/d 70,000 Bbl/d 160,000 Bbl/d 6.4x Capacity Average Water Disposed 12,000 Bbl/d 56,000 Bbl/d…
San Mateo Initiatives Expected to Enhance Shareholder Value San Mateo allows Matador to retain operational control over its Delaware Basin midstream business while enhancing its ability to unlock and capture significant value as a…
Marketing Overview NYSE: MTDR
Crude Oil Marketing Overview Plains to connect to San Mateos crude oil system currently under construction in Eddy County, NM and enhance existing interconnect in Loving Central Delivery Points County, TX Market optionality into…
Natural Gas Marketing Overview Black River Processing Plant Matador believes it has sufficient firm capacity for existing production and expected production volumes from future drilling Matador currently sells residue gas at Waha…
Natural Gas Liquids Marketing Overview Matador Resources Acreage Completed NGL connection at the Black River Black River Processing Plant Processing Plant on EPICs Y-Grade pipeline in March 2018 EPIC Y-Grade Pipeline San Mateo…
2018 Capital Investment Plan NYSE: MTDR
2018 Capital Investment Plan Summary We plan to continue to focus on our Delaware Basin assets and opportunities in 2018 and almost all of our capital is expected to be invested there Expect to operate six rigs in the Delaware Basin…
2018 Capital Investment Plan Summary (as of February 21, 2018) 2018E CapEx(1) 600 to 660 million (Delaware: six rigs throughout 2018; one rig expected to drill at least two SWDs for San Mateo) Midstream 70 to 90 million(2) Eagle…
Matadors 2018 Delaware Basin Operated Drilling Program TWIN LAKES Rustler Breaks 43,500 gross / 31,800 net acres 51 gross (39.0 net) wells in progress for 2018 42 gross (33.9 net) wells turned to sales, including 1 28 Wolfcamp A, 8…
2018 Oil and Natural Gas Production Estimates (as of February 21, 2018)(1) Total Oil and Natural Gas Production 2018E Oil Production 26% Growth YoY 2018E CapEx(2) (Midpoint): 19% D/C/E: 550 MM Natural Gas, Bcf 16,900 Estimated oil…
2018 Revenues and Adjusted EBITDA Estimates (as of February 21, 2018)(1) 2018E Oil and Natural Gas Revenues and Adjusted EBITDA(2) Oil and Natural Gas Revenues Revenues and Adjusted EBITDA(2) positively impacted by higher 800 28%…
Hedging Profile Remainder of 2018 Hedges(1) Oil (WTI) Costless Collars: 1.7 million barrels hedged for remainder of 2018 at weighted average floor and ceiling prices of 44/Bbl and 60/Bbl, respectively Oil (WTI) Costless Participating…
Summary and 2018 Guidance (as of February 21, 2018) Plan to run 6 rigs in the Delaware Basin throughout 2018 Three rigs in Rustler Breaks, one rig in Antelope Ridge, one rig in Wolf/Jackson Trust and one rig in Ranger/Arrowhead/Twin…
Appendix NYSE: MTDR
Matadors Proved Reserves 153 Million BOE at December 31, 2017(1) Haynesville/CV Haynesville/CV 13.1 MMBOE, 12% 11.4 MMBOE, 8% Haynesville/CV Eagle Ford 19.0 MMBOE, 22% 19.0 MMBOE, 22% Eagle Ford Eagle Ford 12.4 MMBOE, 8% 13.3…
MTDRs Performance Has Reflected Our Progress Throughout the Cycle 500 - MTDR among top three publicly traded E&P companies since February 2012 - Only 50% of companies are still publicly traded 450 - Only 20 companies with positive…
What Did Shareholders Get For Their Investment in MTDR in 2017 Midstream Investments Creating Significant Value 2016(1) 2017(1) Formed San Mateo joint venture with Five Point(2) Matador received 171.5 million initially and owns 51%…
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…
Matadors 2017 Eagle Ford Operated Drilling Program Successful Drilled and completed five gross (5.0 net) operated Eagle Ford shale wells and participated in three gross (0.8 net) non-operated Eagle Ford shale wells in 2017 Picked up…
Haynesville Shale, North Louisiana Natural Gas Bank Elm Grove Development Chesapeake Operated 2017 Haynesville Non-Op Program Participated in 11 gross (0.6 net) Haynesville wells in 2017 Chesapeakes three Blount wells (Matador…
Adjusted EBITDA Reconciliation This 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 Companys…
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,…
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,…
Adjusted EBITDA Reconciliation San Mateo Midstream, LLC(1) The following table presents the calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided…
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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