Matador Resources Company Company Overview Market Capitalization(1) 3.3 billion Avg Daily Production Q3 2018(2) 54,600 BOE/d 30%* 7% of total production Oil (% total) 32,300 Bbl/d (59%) 37%* Almost no oil 17% 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 28.13(3) +134% Oil Price 98.41 63.10(4) -36% 414 Bbl/d 32,300 Bbl/d Oil…
Q3 2018 Volumes At Record Levels Driven by Strong Delaware Production Average Daily Oil Production Average Daily Total Production (Bbl/d) (BOE/d) Oil up 9% sequentially; up 37% YoY BOE up 3% sequentially; up 30% YoY 54,625…
Committed to Maintaining Strong Balance Sheet Through the Cycles Preserved and enhanced liquidity through October 2018 Senior Notes tack-on offering, August 2018 Senior Notes Refinancing, May 2018 equity offering, October 2017 equity…
Operations and Delaware Basin Update NYSE: MTDR
Building Delaware Basin Position One Brick at a Time 2012 2014 2016 Today 7,500 Net Acres 65,000 Net Acres 94,700 Net Acres 131,200 Net Acres EDDY LEA LEA LEA LEA EDDY EDDY EDDY LOVING LOVING LOVING LOVING Matador…
Delaware Basin Acreage Position and Recent Operations and Results Running six rigs in Delaware Basin SST 6 State 123H 2nd Bone Spring 4-month cum: 165 MBOE (78% oil) TWIN LAKES 45,000 gross / 32,100 net acres Rustler Breaks: Three…
Successful Acreage Acquisitions at BLM Lease Sale Strong results from wells offsetting the acquired acreage: A Stateline Asset Area Cumulative Production Oil Eq. % ANTELOPE RIDGE Well Interval Months (BOE) Oil RUSTLER BREAKS…
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 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…
Continuing to Drill Wells More Efficiently 1400 91 In 2018, Matador is Projected to Drill Over 1.2 Million 82 Feet at the Fastest ROP(1) Achieved by the Company 77 1,213 1200 78 72 1,030 1000 65 60 Rate of Penetration,…
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 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%…
Delaware Basin Asset Areas NYSE: MTDR
Rustler Breaks Asset Area Eddy County, New Mexico Asset Summary and Recent Highlights Black River Cryogenic Natural Gas Processing Plant and Salt Water Disposal Wells 1, 2, 3, 4 and 5 Approximately 48,200 gross (28,700 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 20,600 gross (17,700 net) acres, Matador including 3,600 net acres with 87.5% NRI added in 24-hr IP: 1,491 BOE/d (82%…
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 (10,100 net) acres Added 730 strategic net acres YTD Ran one rig through Q3 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 42 month cum: 462 MBOE (71% oil) Baroque BTQ Fed Com 1H Yates Petroleum (EOG) 31…
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 (SWDs) and…
Significant Growth in Delaware Midstream Business in Last Three Years Q3 2016 Q3 2017 Q3 2018 Growth(1) Designed Water Disposal 45,000 Bbl/d 95,000 Bbl/d 225,000 Bbl/d 5.0x Capacity Average Water Disposed 35,000 Bbl/d 57,000 Bbl/d…
Creating Midstream Value Has Been a Major Focus but Additional Opportunities Exist Matadors midstream business has grown from negligible to 1.0 billion(1) business, essentially self-funded San Mateo continues to attract third-party…
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
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 EPIC Y-Grade Pipeline in March 2018 San Mateo…
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,…
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…
2018 Updated Capital Investment Plan NYSE: MTDR
Updated 2018 Guidance (as Revised on October 31, 2018) Plan to run six rigs in the Delaware Basin and one rig in South Texas for the remainder of 2018 Three rigs in Rustler Breaks, one rig in Antelope Ridge, one rig in Wolf/Jackson…
Updated 2018 Drilling and Capital Investment Plan We have continued to focus on our Delaware Basin assets and opportunities in 2018 and almost all of our capital through Q3 2018 has been invested there Expect to operate six rigs in the…
South Texas Asset Area Anticipated Upcoming Drilling Program Expect to drill up to 10 wells in South Texas in Q4 2018 and early 2019 Planning to run one rig in Q4 2018 and early 2019 primary focus on Eagle Ford shale Conduct first…
Updated 2018 Capital Investment Plan Summary (as of October 31, 2018) February 21, 2018 August 1, 2018 October 31, 2018 2018E CapEx Guidance(1)(2) 2018E CapEx Guidance(1)(3) 2018E CapEx Guidance(1)(4) 600 to 690 to Midstream 715 to…
Hedging Profile Q4 2018 Hedges(1) Oil (WTI) Costless Collars: 720,000 barrels hedged for Q4 2018 at weighted average floor and ceiling prices of 44/Bbl and 60/Bbl, respectively Oil (WTI) Costless Participating Three-Way Collars(2):…
Amended Revolving Credit Facility Strong, supportive bank group led by Royal Bank of Canada Amended Credit Agreement increased facility size to 1.5 billion (from 500 million); maturity extended to October 2023 Borrowing base increased…
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,…
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 45
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…
Haynesville Update HAYNESVILLE ACREAGE TOTALS 25,500 gross / 22,800 net acres 2018 Haynesville Non-Op Program Participated in six gross (0.2 net) Haynesville wells in H1 2018 Peir 29&20-15-11 1H & 2H wells Two Edgar Cason wells had…
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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