Matador Resources Company Overview Market Snapshot NYSE Symbol MTDR Market Cap(1) 1.8B Delaware Basin Q3 Avg. Daily Production 69.6 MBOE/d Assets Haynesville/ Q3 Net Debt / Adj. EBITDA(2) 2.4x Cotton Valley Assets YE 2018 Proved…
Investment Highlights Matador Resources Company (NYSE: MTDR) Interests Aligned with Shareholders Matador Named Executive Officers (NEOs) on average hold almost 5x more company stock than NEOs at peer companies(1) see slide 6 High…
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 Significant Progress Since its IPO Both Technically and Financially At IPO(1): February 7, 2012 Today(2) Difference Share Price 12.00 15.56(3) +30% 414 Bbl/d 39,800 Bbl/d Oil Production (6% oil) +96-fold (57%…
Headlines and Highlights for Third Quarter 2019 Oil production of 39,800 Bbl/d, up 8% from 36,800 Bbl/d in Q2 2019 Record Quarter Record Production Gas production of 179.2 MMcf/d, up 22% from 147.1 MMcf/d in Q2 2019 Record Quarter…
Selected Operating and Financial Results Three Months Ended September 30, 2019 June 30, 2019 September 30, 2018 Net Production Volumes:(1) Oil (MBbl) 3,659 3,346 2,973 Natural gas (Bcf) 16.5 13.4 12.3 Total oil equivalent (MBOE)…
Q3 2019 Volumes At Record Levels Average Daily Oil Production Average Daily Total Production (Bbl/d) (BOE/d) 39,776 BOE up 14% sequentially; up 27% YoY 36,767 69,645 Oil up 8% sequentially; up 23% YoY 34,517…
Significant Growth in All Parts of San Mateos Delaware Midstream Business (51% Owned by Matador) San Mateo Average Natural Gas Gathering San Mateo Average Water Disposal (MMcf/d) (MBbl/d) 250 200 186 190 Up 12% sequentially; Up 2%…
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…
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
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 EDDY LEA LEA LEA LEA EDDY EDDY EDDY LOVING LOVING LOVING LOVING 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: YTD Progress and Current Expectations Average Lateral Length and % of Longer Laterals CapEx per Foot(1) and Lateral Footage Turned to Sales 100% 700,000 1,700 Average Lateral Length Lateral Feet…
Two-Mile Laterals Maximizing Returns 10% increase in completed lateral footage by capturing 850 feet of additional pay Time spent drilling in productive rock increased from 18% to 43% Increased well recovery and reduced total cost 2…
Continuing to Drill Delaware Basin 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…
Increased Use of Recycled Water in Fracturing Operations Q3 2019 Planned Arrowhead Recycling Facility Potential to recycle 2.5 million in 2020 Planned Antelope Ridge Facility Potential to recycle 2.0 million Bbl in 2020 12 Bbl(1) of…
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 Approximately 44,600 gross (25,300 net) acres Producing from…
Stateline Asset Area Eddy County, New Mexico STATELINE 2,800 gross / 2,800 net acres Asset Summary and Highlights Paduca 7 1H Mewbourne Approximately 2,800 gross/net acres with 87.5% net 45 month cum: 823 MBOE (40% oil) revenue…
Antelope Ridge Asset Area Lea County, New Mexico BLM Acreage - Rodney Robinson Asset Summary and Highlights Red Tank 30 31 St Com 34H Approximately 20,800 gross (17,500 net) acres, including Oxy 4,800 net acres with 87.5% NRI added…
Wolf and Jackson Trust Asset Areas Loving County, Texas Asset Summary and Recent Highlights Approximately 15,000 gross (10,700 net) acres Producing from four primary intervals, including 2nd Bone Spring, Wolfcamp A-XY, Wolfcamp…
Arrowhead and Ranger Asset Areas Eddy and Lea Counties, NM Virgo 24 23 B2AD Fed Com 1H 1st Bone Spring Mewbourne (2-mile) 11 month cum: 346 MBOE (86% oil) 2nd Bone Spring Baroque BTQ Fed Com 1H 3rd Bone Spring Yates Petroleum (EOG)…
Twin Lakes Asset Area Lea County, New Mexico Chug Bug State Com 1H NE Kemnitz 233H Reed 24 25 B State 1H D. Culbertson State 234H Olivine 5-16-37 TL State 1 DGP Wolfcamp D (1.0-mile lateral) Continental Wolfcamp D (1.0-mile lateral)…
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 Eleven salt water disposal wells…
Significant Growth in All Parts of San Mateos Delaware Midstream Business (51% Owned by Matador) San Mateo Average Natural Gas Gathering San Mateo Average Water Disposal (MMcf/d) (MBbl/d) 250 200 186 190 Up 12% sequentially; Up 2%…
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 Ten commercial SWDs (11th expected Q1 2020)…
San Mateo Recent Highlights and Performance October 2019 Expanded credit facility for a second time to 375 million from 325 million (originally entered into 250 million facility in December 2018) October 2019 Eighth commercial SWD in…
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 54% 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 In late September 2019, Matador began…
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 October 29, 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 October 29, 2019) 2019E D/C/E CapEx Guidance of 640 to 680 million and 2019E Wells Turned to Sales Midstream CapEx Guidance of 70 to 90 million(3) Original Guidance(1) Updated…
Delaware Basin Operated Horizontal Well Completions in 2019(1) At October 29, 2019, Matador expects to complete 86 gross (70.8 net) operated wells in 2019, including four gross (4.0 net) vertical wells, seven gross (6.9 net) Eagle Ford…
South Texas Asset Area All wells in the 20182019 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…
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 29 gross (1.7 net) Pace 24-13HC 1 & 2 Alt and…
Reserves-Based Credit Agreement Borrowing Base Affirmed at 900 million in October 2019 Strong, supportive bank group led by Royal Bank of Canada Facility size of 1.5 billion; matures in October 2023 Borrowing base affirmed at 900…
San Mateo I Credit Facility Increased by 50 million to 375 million in October 2019 Led by The Bank of Nova Scotia and including all banks in Matadors reserves-based credit facility Covers San Mateo I only, not San Mateo II Facility…
Hedging Profile Remainder of 2019, 2020, 2021 and 2022(1) Oil (WTI) Costless Collars: 2.0 million Bbl hedged for remainder of 2019 at weighted average floor and ceiling prices of 50/Bbl and 71/Bbl, respectively; 4.9 million Bbl hedged…
Appendix NYSE: MTDR
Wells Completed and Turned to Sales Q3 2019 During the third quarter of 2019, the Delaware Basin accounted for 39 gross (22.6 net) wells completed and turned to sales, including 27 gross (22.2 net) operated and 12 gross (0.4 net)…
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…
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…
Taking Operations to the Next Level: MAXCOM MAXCOM Matador team dedicated to real-time, 24/7 operations support Team approach including both engineers and geologists Geosteering Drilling in better rock with approximately 95% of…
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…
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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