Third Quarter 2020 Earnings Release October 27, 2020
Chairmans Remarks October 27, 2020
SLIDE A 2020 Priorities Protecting the Balance Sheet is First Priority Balance Sheet Improvements Five Significant 2020 Milestones - Timeline 1 Reducing Rig Count from 6 to 3 rigs Q3 2020 and Beyond 1 Rodney Robinson wells turned to…
SLIDE B Revolver Borrowings Outstanding Quarterly Estimates for Q4 2020 ( in millions) Letters of Credit 1,000 Revolver Borrowings Outstanding 900 Borrowing Base 900 800 200 million Elected Commitment 700 700 25 million…
SLIDE C A Step Change in Capital Efficiency: Updated 2020 Expectations(1) Average Lateral Length and % of Longer Laterals CapEx per Foot(2) and Lateral Footage Turned to Sales 100% 600,000 Lateral Feet Turned to Sales 1,700 83%…
SLIDE D Elements of 2020 Cost Savings & Cash Flow Enhancements 360 Million Potential Improvement vs. Original Guidance Cost Savings + Cash Enhancements Already Realized YTD ( in millions) Expected Remaining Cost Savings + Cash…
SLIDE E A Tightly Integrated Strategy: Growing E&P and Midstream Together Average Daily Total Production Average Daily Total Delaware Production (BOE/d) Delaware Basin (BOE/d) Q4 2020E BOE up 9% sequentially; up 8% YoY Q4 2020E BOE…
Operational and Financial Results October 27, 2020
Strong Results for Third Quarter 2020 Oil production of 42,300 Bbl/d, up 6% from 39,800 Bbl/d in Q3 2019 Above Guidance Strong Production Natural gas production of 183.9 MMcf/d, up 3% from 179.2 MMcf/d in Q3 2019 Above Guidance Total…
Q3 2020 Selected Operating and Financial Results Three Months Ended September 30, June 30, September 30, 2020 2020 2019 Net Production Volumes:(1) Oil (MBbl) 3,895 3,920 3,659 Natural gas (Bcf) 16.9 16.5 16.5 Total oil equivalent…
Delaware Basin Continuing to Deliver Strong Well Results Matador Acreage Reduced operated rigs in Delaware TWIN LAKES 43,900 gross / 24,500 net acres Basin from six to three at the end of Q2 2020 expect to run three rigs for…
Stateline Asset Area Eddy County, New Mexico STATELINE Asset Summary and Highlights 2,800 gross / 2,800 net acres Approximately 2,800 gross/net acres with 87.5% net Acreage revenue interest acquired in September 2018 BLM lease sale…
Matador Federal Acreage and Permitting Update % of Total At June 30, 2020, Delaware Leasehold Federal Leasehold Delaware Asset Area County Delaware (net acres) (net acres) Leasehold Matador held approximately 127,600 Antelope…
Wells Completed and Turned to Sales Q3 2020 During Q3 2020, Matador completed and turned to sales 27 gross (19.3 net) wells in its various operating areas, including 20 gross (19.1 net) operated wells and 7 gross (0.2 net) non-operated…
San Mateo(1) Assets and Operations Three-Pipe Offering Eddy County, NM Assets Loving County, TX Assets 1 Mile Greater Stebbins Area Wolf Loving 43 miles Natural Gas and Oil Pipelines IN SERVICE Reeves Loving Ward 1…
Continued Progress in All Parts of San Mateos Delaware Midstream Business (51% Owned by Matador) San Mateo Average Water Handling San Mateo Average Natural Gas Gathering(1) (MBbl/d) (MMcf/d) Up 8% sequentially; 250 233 300 Down 1%…
San Mateo Recent Highlights and Performance October 2020 Matador and Five Point(1) completed the successful merger of San Mateo I and San Mateo II into a single entity Q3 2020 San Mateo II expansion projects completed, including:…
Hedging Profile Remainder of 2020, 2021 and 2022(1) Oil Collars, Swaps, Puts Midland-Cushing Basis Swaps Natural Gas Collars 70-75% hedged for Q4 2020 60% hedged for Q4 2020 60% hedged for Nov 2020 Dec 2020 9,000 16.0 WTI Collars…
Updated Full Year 2020 Guidance October 27, 2020
Summary and Updated 2020 Guidance (as Provided on October 27, 2020) Three rigs operating in the Delaware Basin during Q4 2020 expect 53 gross (45.7 net) operated wells in 2020 Operating three rigs in the Delaware Basin during Q4 2020,…
Updated 2020 Capital Investment Plan Summary vs. Prior Guidance Updated 2020 CapEx Guidance(1)(2)(3) 560 million (down 5 million vs. Prior Guidance of 565 million(4)) (Delaware: Moved from 6 to 3 operated rigs by end of Q2 2020)…
2020 Oil and Natural Gas Production Estimates(1) Total Oil and Natural Gas Production 2020E CapEx(1)(2) (Midpoint): Natural Gas, Bcf 12% D/C/E: 465 MM Midstream(3): 95 MM Oil, MBbl 27,150 2020E Oil Production 13% Growth YoY 26,700…
Wells Completed and Turned to Sales 2020 Updated Guidance(1) During full year 2020, Matador expects to complete and turn to sales 93 gross (47.9 net) wells. Matador expects the Delaware Basin to account for 89 gross (47.9 net) wells,…
Appendix
Reaffirmed October 2020 Matador Resources and San Mateo I Credit Facilities Matador Credit Agreement Summary Bank group led by Royal Bank of Canada Elected Borrowings Letters of Credit Financial Covenant: Maturity Borrowing Last…
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 Continued 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)…
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 (Loss) Income and Adjusted (Loss) Earnings Per Diluted Common Share This presentation includes the non-GAAP financial measures of adjusted net (loss) income and adjusted (loss) earnings per diluted common share. These…
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