Matador Resources Company Overview Market Snapshot NYSE Symbol MTDR Market Cap(1) 1.8B Delaware Basin Q2 Avg. Daily Production 61.3 MBOE/d Assets Haynesville/ Q2 Net Debt / Adj. EBITDA(2) 2.3x Cotton Valley Assets YE 2018 Proved…
Matadors Significant Executive Officer % Ownership vs. Peer Group Interests Aligned with Shareholders Over the past 12 months, approximately 85 directors, special advisors and employees, or about one-third of the staff, have bought…
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 15.25(3) +27% 414 Bbl/d 36,800 Bbl/d Oil Production (6% oil) +89-fold (60% oil)…
Headlines and Highlights for Second Quarter 2019 Oil and total production were record numbers in Q2 2019 Oil production of 36,800 Bbl per day, up 7% sequentially from 34,500 Bbl per day in Q1 2019 Record Quarter Oil equivalent…
Q2 2019 Oil and Oil Equivalent Volumes At Record Levels Average Daily Oil Production Average Daily Total Production (Bbl/d) (BOE/d) BOE up 2% sequentially; up 16% YoY 61,290 Oil up 7% sequentially; up 24% YoY 59,941 55,536…
Significant Asset Growth per Share of Matador Stock In addition to 1.1 Bbl of oil and 4.7 Mcf of natural gas standing behind each share of stock, Matador has 132,700 net leasehold and mineral acres in the Delaware Basin and owns 51% of…
Selected Operating and Financial Results Q2 2019 and Prior Periods Three Months Ended June 30, March 31, June 30, 2019 2019 2018 (1) Net Production Volumes: Oil (MBbl) 3,346 3,107 2,706 Natural gas (Bcf) 13.4 13.7 12.7 Total oil…
Environmental, Social and Governance (ESG) Environmental Social Governance Commitment Reducing greenhouse to a proactive safety gas (GHG) emissions Certification of code culture with a total using advanced of conduct by all…
Operations and Delaware Basin Update 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 13
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 132,700 Net Acres LEA EDDY LOVING Matador Acreage Matador Acreage Matador Acreage Matador…
Delaware Basin Acreage Position and Recent Operations and Results Matador Acreage TWIN LAKES Running six rigs in Delaware Basin 44,100 gross / 31,200 net acres Rustler Breaks: One to three rigs (at times) drilling primarily Wolfcamp…
Regional Sand: Increasing Use to Enhance Operational Efficiency 1,100 Potential Cost Savings, 000s Implementation and Cost Savings Cost savings are linear with 1,000 lateral length as Matador ramps Initial tests conducted to…
A Step Change in Capital Efficiency: Longer Laterals and Increased Batch Drilling Recent strategic trades and acquisitions have opened Average Lateral Length and % of Longer Laterals the door for a significant step change in lateral…
A Step Change in Capital Efficiency: Driving Down D&C CapEx per Foot(1) 700,000 1,700 Lateral Feet Turned to Sales Average Drilling & Completions CapEx/foot, /ft(1) (1) Assumes constant Average D&C CapEx/ft rig count 600,000…
Continuing to Drill Wells More Efficiently 1,400 91 In H1 2019, Matador Drilled Over 1.3 Million Feet (Annualized) 1,310 84 at the Fastest ROP(1) Achieved by the Company 1,231 80 77 1,200 78 72 1,030 1,000 65 60 Rate of…
Delaware Basin Inventory Continues to Increase Added 52,000 Net Acres Since January 1, 2017 Matador has identified up to 5,442 gross (2,472 net) potential locations(1) for future drilling (only locations yet to be drilled) on its…
Delaware Basin Asset Areas NYSE: MTDR
Rustler Breaks and Stateline Asset Areas 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, 5 and 6 Approximately 44,600 gross…
Antelope Ridge Asset Area Lea County, New Mexico Asset Summary and Highlights Approximately 20,800 gross (17,500 net) acres, including 4,800 net acres with 87.5% NRI added in September 2018 BLM lease sale Irvin Wall State Com 132H,…
Wolf and Jackson Trust Asset Areas Loving County, Texas Asset Summary and Recent Highlights Approximately 15,000 gross (10,700 net) acres Added 1,300 strategic net acres in 2018 Producing from four primary intervals, including 2nd…
Arrowhead and Ranger Asset Areas Eddy and Lea Counties, NM Leo 15 B2DH Fed 1H 1st Bone Spring Mewbourne 51 month cum: 487 MBOE (70% oil) 2nd Bone Spring Baroque BTQ Fed Com 1H 3rd Bone Spring Yates Petroleum (EOG) Mallon 27 Fed Com 1H,…
Twin Lakes Asset Area Lea County, New Mexico State LF 30 4H NE Kemnitz 233H D. Culbertson State 234H Olivine 5-16-37 TL State 1 Cimarex Wolfcamp D (1.0-mile lateral) Wolfcamp D (1.0-mile lateral) Vertical Strawn Completion Wolfcamp D…
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 Ten salt water disposal wells (SWDs)…
Significant Growth in Delaware Midstream Business Over Last Three Years Q2 2016 Q2 2017 Q2 2018 Q2 2019 Growth(1) Designed Water Disposal 45,000 Bbl/d 95,000 Bbl/d 160,000 Bbl/d 250,000 Bbl/d 5.6x Capacity Average Water Disposed…
Significant Growth in All Parts of San Mateos Delaware Midstream Business (51% Owned by Matador) San Mateo Average Water Disposal San Mateo Average Natural Gas Gathering (MBbl/d) (MMcf/d) 200 200 192 Up 9% sequentially; 186 Up 7%…
San Mateo Asset Overview Including Planned San Mateo Expansion San Mateo I (Formed February 2017): Gas processing plant 260 MMcf/d designed inlet capacity Gas, oil and water gathering Nine commercial SWDs (tenth in progress)…
Significant Midstream Value Created and More Opportunities Exist 2,000 Matadors midstream business has grown from negligible San Mateo and San Mateo II Combined Estimated Value ( in millions)(2) to 1.0 billion(1) business,…
San Mateo Recent Highlights and Performance June 2019 Expanded credit facility to 325 million from 250 million (originally entered into facility in December 2018) February 2019 Matador entered into second strategic midstream transaction…
Marketing Overview NYSE: MTDR
Crude Oil Marketing Overview Matador currently has on pipe almost all of its oil production from the Wolf and Rustler Breaks asset areas, which comprised 55% of the Companys Central Delivery Points Delaware Basin oil production in…
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 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 BP Energy Company has…
2019 Capital Investment Plan NYSE: MTDR
Updated 2019 Guidance (as Revised on July 31, 2019) Plan to run six rigs in the Delaware Basin throughout remainder of 2019 Four rigs in Rustler Breaks and Antelope Ridge, one rig in Wolf/Jackson Trust and one rig in…
Updated 2019 Capital Investment Plan Summary (as of July 31, 2019) 2019E D/C/E CapEx Guidance of 640 to 680 million 2019E Wells Turned to Sales Affirmed full year 2019 D/C/E capital expenditures guidance at Original Guidance(1) Updated…
2019 Oil and Natural Gas Production and Adjusted EBITDA Estimates(1)(2) 2019E Oil Production 20% Growth YoY Total Oil and Natural Gas Production Estimated oil production of 13.3 to 13.45 million barrels 2019E CapEx(3) (Midpoint):…
Delaware Basin Operated Well Completions in 2019 (as of July 31, 2019) At July 31, 2019, Matador expects to complete 85 gross (69.7 net) operated wells in 2019, including four gross (3.8 net) vertical wells, seven gross (6.9 net) Eagle…
South Texas Asset Area All wells in the nine-well program are on production (eight Eagle Ford and one Austin Chalk) Combined drilling and completion costs for the nine-well program are significantly under budget with an estimated 7.5…
Hedging Profile Remainder of 2019 and 2020 Remainder of 2019 and 2020 Hedges(1) Oil (WTI) Costless Collars: 3.9 million Bbl hedged for remainder of 2019 at weighted average floor and ceiling prices of 50/Bbl and 71/Bbl, respectively;…
Reserves-Based Credit Agreement Borrowing Base Increased in Q2 2019 Strong, supportive bank group led by Royal Bank of Canada In October 2018, amended Credit Agreement increased facility size to 1.5 billion (from 500 million); maturity…
San Mateo I Credit Facility Increased to 325 million in June 2019 Led by The Bank of Nova Scotia and supported by all banks in Matadors reserves-based credit facility Covers San Mateo I only, not San Mateo II Facility initially sized…
Appendix NYSE: MTDR
Wells Completed and Turned to Sales Q2 2019 During the second quarter of 2019, the Delaware Basin accounted for 19 gross (15.2 net) wells completed and turned to sales, including 16 gross (15.1 net) operated and 3 gross (0.1 net)…
Matadors Proved Reserves 215 Million BOE at December 31, 2018(1) Reserves and Oil Production Doubled Over Last Two Years Haynesville/CV Haynesville/CV Haynesville/CV 11.4 MMBOE, 8% 11.6 MMBOE, 5% 13.1 MMBOE, 12% Eagle Ford Eagle…
Matador Screens Well Against Peers on Return Metrics E&P Return on Average Capital Employed Cash Return on Cash Invested (CROCI)(2) (ROACE)(1) 2018 2018 Peer 1 31% Peer 3 29% Peer 2 28% Peer 5 17% Peer 3 28% MTDR 14% 14% MTDR 22%…
Haynesville Asset Area 2019 Non-Operated Drilling Program Haynesville / Cotton Valley 2019 Haynesville Non-Op Program 24,600 gross / 21,900 net acres Matador expects to participate in 26 gross (1.7 net) Pace 24-13HC 1 & 2 Alt and…
Taking Operations to the Next Level: MAXCOM MAXCOM Matador team dedicated to real-time, 24/7 operations support Interdisciplinary team approach MAXCOM Update Over one year since MAXCOM operations began with 12 months in the new…
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 Matador Resources Company, Consolidated 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…
Adjusted EBITDA Reconciliation Matador Resources Company, Consolidated 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…
Adjusted EBITDA Reconciliation Matador Resources Company, Consolidated 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…
Adjusted EBITDA Reconciliation San Mateo(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 by (used in)…
Adjusted EBITDA Reconciliation San Mateo(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 by (used in)…
Adjusted Net Income and Adjusted Earnings Per Diluted Common Share This presentation includes the non-GAAP financial measures of adjusted net income and adjusted earnings per diluted common share. These non-GAAP items are measured as…
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…
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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