Matador Resources Company Company Overview Market Capitalization(1) 3.8 billion Avg Daily Production Q2 2018(2) 52,900 BOE/d 43%* 6% of total production Oil (% total) 29,700 Bbl/d (56%) 53%* Almost no oil 15% 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 32.56(3) +171% Oil Price 98.41 67.86(4) -31% 414 Bbl/d 29,700 Bbl/d Oil…
Q2 2018 Volumes At Record Levels Driven by Strong Delaware Production Average Daily Oil Production Average Daily Total Production (Bbl/d) (BOE/d) 29,740 Oil up 12% sequentially; up 53% YoY BOE up 17% sequentially; up 43% YoY…
Committed to Maintaining Strong Balance Sheet Through the Cycles Preserved and enhanced liquidity through August 2018 Senior Notes Refinancing, May 2018 equity offering, October 2017 equity offering and February 2017 San Mateo…
Operations and Delaware Basin Update NYSE: MTDR
Building Delaware Basin Position One Brick at a Time 2012 2014 2016 August 2018 7,500 Net Acres 65,000 Net Acres 94,700 Net Acres 115,400 Net Acres LEA EDDY LOVING Matador Acreage Matador Acreage Matador Acreage Matador…
Quality Acreage Additions Throughout 2018 YTD TWIN LAKES Permian acreage position includes 41,800 gross / 28,500 net acres 209,000 gross (115,400 net) acres, almost all in the Delaware Basin ARROWHEAD 60,000 gross / 24,500 net…
Delaware Basin Acreage Position and Recent Operations and Results SST 6 State 123H Running six rigs in Delaware Basin 2nd Bone Spring 24-hr IP: 2,056 BOE/d (85% oil) TWIN LAKES expect to run six rigs throughout 2018 41,800 gross /…
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…
Matador Screens Well Against Peers Across Multiple Return Metrics E&P Return on Average Production Growth per Cash Return on Cash Invested Capital Employed (ROACE)(1) Debt-Adjusted Share(2) (CROCI)(3) 2017 Q2 2018 TTM 2017 MTDR 21% 32%…
Continuing to Drill Wells More Efficiently In 2018, Matador is Projected to Drill Over 1.2 Million Feet at the Fastest ROP(1) Achieved by the Company (2) Note: Only horizontal wells drilled in the Delaware Basin. (1) Rate of…
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 +50 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 Black River Cryogenic Natural Gas Processing Plant Asset Summary and Recent Highlights and Salt Water Disposal Wells 1, 2, 3, 4 and 5 Approximately 42,700 gross (23,000 net) acres;…
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…
Antelope Ridge Asset Area Off to a Strong Start Asset Summary and Highlights Marlan Downey 111H Approximately 15,800 gross (12,500 net) acres in area of Matador strong industry well results 24-hr IP: 1,491 BOE/d (82% oil) Bill…
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…
Wolf and Jackson Trust Asset Areas Loving County, Texas Asset Summary and Recent Highlights Approximately 13,600 gross (9,900 net) acres Added 500 strategic net acres YTD Ran one rig through Q2 2018 and expect to run one rig…
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…
Arrowhead and Ranger Asset Areas Eddy and Lea Counties, NM 1st Bone Spring 2nd Bone Spring 3rd Bone Spring Wolfcamp A-XY Leo 15 B2DH Fed 1H Mewbourne 325 MBbl in first 38 months Baroque BTQ Fed Com 1H Yates Petroleum (EOG) 515 MBbl in…
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…
Twin Lakes Asset Area Lea County, New Mexico State 25 1H State LF 30 4H NE Kemnitz 233H D. Culbertson State 234H Olivine 5-16-37 TL State 1 Cimarex Cimarex Matador Matador Matador Wolfcamp D (1.0-mile lateral) Wolfcamp D (1.0-mile…
San Mateo Midstream Operations and Plans
Midstream Business Continues to Grow San Mateos Three-Pipe Offering Gas Gathering and Processing Water Gathering and Disposal Oil Gathering and Transportation 260 MMcf/d of designed natural gas 8 salt water disposal wells and 44…
Significant Growth in Delaware Midstream Business in Last Three Years Q2 2016 Q2 2017 Q2 2018 Growth(1) Designed Water Disposal 45,000 Bbl/d 95,000 Bbl/d 230,000 Bbl/d(2) 5.1x Capacity Average Water Disposed 30,000 Bbl/d 62,000…
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 is taking oil at San Mateos interconnect in Loving County, TX (Wolf asset area) and is expected to connect to San Mateos crude oil Central Delivery Points gathering system in Eddy County, NM in Q4…
Natural Gas Marketing Overview Matador believes it has sufficient firm capacity for Black River Processing Plant 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 Updated 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…
Updated 2018 Capital Investment Plan Summary (as of August 1, 2018) Original 2018E CapEx Guidance(1)(2) Revised 2018E CapEx Guidance(1)(3) Midstream Midstream 70 to 90 million(4) 600 to 660 million 70 to 90 million(4) 690 to 740…
Updated 2018 Oil and Natural Gas Production Estimates(1) 2018E Oil Production 37% Growth YoY Total Oil and Natural Gas Production 2018E CapEx(3) (Midpoint): Estimated oil production of 10.6 to 10.9 million barrels D/C/E: 635 MM…
Updated 2018 Revenues and Adjusted EBITDA Estimates(1) 2018E Oil and Natural Gas Revenues and Adjusted EBITDA(3) Oil and Natural Gas Revenues Revenues and Adjusted EBITDA(3) positively impacted by higher estimated 2018 production and…
Hedging Profile(1) H2 2018 Hedges Estimated realized gain of 18 million in H2 2018(1) Oil (WTI) Costless Collars: 1.4 million barrels hedged for H2 2018 at weighted average floor and ceiling prices of 44/Bbl and 60/Bbl, respectively…
Updated 2018 Guidance (as Revised on August 1, 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 170 Million BOE at June 30, 2018(1) Haynesville/CV Haynesville/CV Haynesville/CV 11.4 MMBOE, 8% 10.2 MMBOE, 6% 13.0 MMBOE, 10% Eagle Ford Eagle Ford 12.4 MMBOE, 8% 11.5 MMBOE, 7% Eagle Ford 13.3 MMBOE,…
Eagle Ford Oil Bank EAGLE FORD ACREAGE TOTALS EAGLE FORD East Hennig 31,400 gross / 28,600 net acres Gonzales Uvalde Medina San Antonio Lewton Wilson Love Cowey Dewitt Falls City Lyssy EAGLE FORD West Atascosa…
Haynesville Shale, North Louisiana Natural Gas Bank HAYNESVILLE ACREAGE TOTALS 2018 Haynesville Non-Op Program 25,500 gross / 22,800 net acres Participated in six gross (0.2 net) Haynesville wells in H1 2018 Two Edgar Cason wells had…
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…
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…
Return on Average Capital Employed (ROACE) Reconciliation The following table presents our calculation of E&P ROACE and Total ROACE and a reconciliation of such measures to the corresponding GAAP financial measures. Return on…
Cash Return on Capital Invested (CROCI) Reconciliation The following table presents our calculation of CROCI and Total CROCI and a reconciliation of such measures to the corresponding GAAP financial measures. Cash Return on Capital…
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