Voting and Questions If you have not already voted your shares, you may do so now To vote now, click on the voting button in the lower right portion of your screen You must be logged on with your 16-digit control number to vote If…
Chairmans Opening Remarks Joseph Wm. Foran, Founder, Chairman and CEO June 5, 2020
2020 Priorities Protecting the Balance Sheet is First Priority Balance Sheet Improvements Significant 2020 Production Milestones 1 Reducing Rig Count from 6 to 3 rigs Q3 2020 and Beyond 1 First Rodney Robinson wells turned to sales…
Remembering 75th Anniversary of the End of WWII in Europe Arlington National Cemetery 6
Matador Achieved Record Results in 2019 Record Average Daily Record Oil and Natural Record Oil and Natural Total Production Gas Reserves Gas Revenues 66,200 BOE/d (58% oil) 252.5 MMBOE (59% oil) 892.3 million Up 27% from 2018 Up…
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 2019 BOE up 6% sequentially; up 33% YoY 73,749 Q4 2019 BOE…
Unprecedented Challenges in 2020: COVID-19 and Oil Prices Oil prices above 60/Bbl 70 to start 2020 Early concerns of 1,000 WTI Oil Price 63 oil oversupply Onset of 60 Saudi-Russia Total US Rig Count 900 price war 53 800 50 800…
Relative Performance vs. Peer Companies (YTD 2020) Since January 1, 2020 through June 2, 2020 close MTDR CDEV CPE DVN FANG MRO OAS PE SM WPX XEC 0% XEC (-47%) PE (-48%) FANG (-51%) MTDR (-51%) DVN (-53%) WPX (-54%) MRO…
Relative Performance vs. Peer Companies (Since Russia-Saudi Oil Price War) Since March 9, 2020 through June 2, 2020 close MTDR CDEV CPE DVN FANG MRO OAS PE SM WPX XEC XOP MTDR +271% SM +182% CDEV +102% CPE +86% XEC…
Delaware Basin Multi-Year Inventory of A+ Locations Future drilling locations with a projected minimum 15% rate of return at 30/Bbl WTI oil pricing and 1.75/Mcf gas pricing A+ 90% of Matadors remaining 2020 oil production is hedged at a…
Updated 2020 Capital Investment Plan Summary Updated 2020 CapEx Guidance(1)(2)(3) 565 million (original 2020 CapEx estimates reduced by 250 million) (Delaware: Moving from 6 to 3 operated rigs by end of Q2 2020) 2020E Wells Turned…
Consistent Growth in Proved Reserves per Share Matadors total proved reserves per share at all-time high(1) of 2.2 BOE/share (1.3 Bbl of oil + 5.5 Mcf of natural gas) Since Matadors IPO, total reserves have increased 10x and oil…
Matadors Significant Officer % Ownership vs. Peer Group Interests Aligned with Shareholders Since January 1, 2020, approximately 200 directors, special advisors and employees, or approximately two-thirds of the staff, have bought…
Profitable Growth at a Measured Pace Note: CAGR is Compounded Annual Growth Rate. Adjusted EBITDA is a non-GAAP financial measure. For a definition of Adjusted EBITDA and a reconciliation of Adjusted EBITDA (non-GAAP) to net income…
When We Were Just Getting Started 34 10 17
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 8.72(3) -27% Oil Price 98.41 36.81(4) -63% Daily Oil Production 414 Bbl/d 40,600…
Delaware Basin Multi-Year Inventory of A+ Locations Future drilling locations with a projected minimum 15% rate of return at 30/Bbl WTI oil pricing and 1.75/Mcf gas pricing A+ 90% of Matadors remaining 2020 oil production is hedged at a…
New Mexico Oil & Gas Association Production Rankings by Operator 2018 New Mexico Oil Production Ranking 2018 New Mexico Natural Gas Production Ranking Ranking Company Ranking Company 1 EOG Resources 1 Hilcorp Energy 2 Concho…
Taking Operations to the Next Level: MAXCOM MAXCOM Matador team dedicated to real time operations support 24/7 Team approach including both engineers and geologists Geosteering Drilling in better rock with 95% of horizontal…
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 1,700 Lateral Feet Turned to Sales 83% Average…
Delaware Basin Drilling Records Since MAXCOM Implementation Recent Spud to TD Drilling Records: 86 MTDR Drilling Records and 9.4 Million Jack Sleeper 201H 17.8 days 2-mile well Estimated Savings Since MAXCOM Rodney Robinson 122H 18.8…
San Mateo(1) Assets and Operations Three-Pipe Offering Eddy County, NM Assets Loving County, TX Assets 1 Mile Greater Stebbins Area Wolf 43 miles Natural Gas and Oil Pipelines 1 Mile Rustler Breaks Natural Gas Gathering…
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) 200 190 190 300 Q4 2019 flat sequentially; 186…
San Mateo Recent Highlights and Performance March 2020 10th commercial SWD well in Eddy County, NM online Total of 13 commercial SWD wells in Eddy County, NM and Loving County, TX with 335,000 Bbl/d of designed disposal capacity…
Investment Highlights Matador Resources Company (NYSE: MTDR) High Quality E&P Assets and Rapidly Growing New Production Highs and Midstream Business Production surge from 29 A+ wells from Rodney Robinson, Ray, Leatherneck and Stateline…
Annual Meeting of Shareholders June 5, 2020
Board of Directors - Expertise and Stewardship Professional Matador Resources Company, Matador Petroleum Corporation, Foran Oil Company Experience J. Cleo Thompson, Jr., Lawyer Oil and Gas Exploration & Development Business…
Board of Directors - Expertise and Stewardship Vice President, Engineering and Co-Founder, NP Resources, LLC Professional President and CEO, IPR Energy Partners, LLC Experience Former Vice President, Netherland, Sewell & Associates,…
Board of Directors - Expertise and Stewardship Professional Retired Chairman and CEO, Holly Logistic Services, L.L.C. Experience Business Oil and Gas Marketing and Midstream Services Expertise Public Company Leadership Matthew P.…
Board of Directors - Expertise and Stewardship Professional President, EnVent Energy, LLC Experience Former Vice President, Marketing, Snyder Oil Corporation Business Oil and Gas Marketing Expertise Finance and Investments David…
Board Advisors - Expertise and Stewardship Professional Of Counsel, Elliott Sauter PLLC Experience Retired United States Attorney, Northern District of Texas Business Law Expertise James A. Rolfe Special Board Advisor…
Shareholder Advisory Committee for Board Nominations Committee Member Professional Experience Scott E. King - Former VP, Geophysics and New Ventures, Matador Resources Company Co-Chair - Former VP, Exploration & Development, Petro…
Other Important Items Nathan Milton of KPMG LLP, the Companys independent registered public accounting firm in also in attendance today Mr. Milton is available to respond to any questions you may have To receive mail…
Lead Independent Directors Remarks Timothy E. Parker, Lead Independent Director June 5, 2020
Matador Board of Directors 37
ESG: Environmental, Social & Governance (1) 1) Dating to inception of predecessor company Matador Petroleum Corporation. 38
Annual Meeting of Shareholders June 5, 2020
Summary of Proposals for Consideration at Annual Meeting Proposal 1 Election of Directors Proposal 2 Advisory Vote to Approve Named Executive Officer Compensation Proposal 3 Ratification of the Appointment of KPMG LLP 40
Introduction of Director Nominees Kenneth L. Stewart, Chair, Nominating Committee June 5, 2020
Proposal 1 Election of Directors Director Nominees Class III Directors (Terms Expiring at 2023 Annual Meeting of Shareholders) Vice President, Engineering and Co-Founder, NP Resources, LLC Professional President and CEO, IPR Energy…
Proposal 1 Election of Directors Director Nominees Class III Directors (Terms Expiring at 2023 Annual Meeting of Shareholders) Professional Former Portfolio Manager and Analyst Natural Resources, T. Rowe Price & Associates…
Proposal 2 Advisory Vote on 2019 Named Executive Officer Compensation The Company seeks a non-binding advisory vote from its shareholders regarding the 2019 compensation of its Named Executive Officers as described in the Proxy…
Proposal 3 Ratification of the Appointment of KPMG LLP KPMG LLP (KPMG) served as the Companys independent registered public accounting firm for the fiscal year ended December 31, 2019 The Audit Committee has appointed KPMG as the…
Summary of Proposals for Consideration at Annual Meeting Proposal 1 Election of Directors Proposal 2 Advisory Vote to Approve Named Executive Officer Compensation Proposal 3 Ratification of the Appointment of KPMG LLP 46
Director Affirmation and Remarks Monika U. Erhman Director Professor of Law and Faculty Director of Oil & Gas, Natural Resources, and Energy Professional Center, University of Oklahoma College of Law Experience Petroleum…
Annual Meeting of Shareholders June 5, 2020
Recognition of David M. Posner Reynald A. Baribault, Director David M. Posner, Retiring Director June 5, 2020
Annual Meeting of Shareholders June 5, 2020
Operations/Financial Update and 2020 Plans Matthew V. Hairford, President David E. Lancaster, EVP and CFO June 5, 2020
Matador Has Made Significant Progress Since the IPO in 2012 Total Proved Reserves Net Acreage Position Average Daily Production (MMBOE) (MBOE/d) (1) (1) At IPO At IPO At IPO(1) Delaware Basin Delaware Basin Delaware Basin 0.1 MMBOE…
Profitable Growth at a Measured Pace Note: CAGR is Compounded Annual Growth Rate. Adjusted EBITDA is a non-GAAP financial measure. For a definition of Adjusted EBITDA and a reconciliation of Adjusted EBITDA (non-GAAP) to net income…
Delaware Basin Multi-Year Inventory of A+ Locations Future drilling locations with a projected minimum 15% rate of return at 30/Bbl WTI oil pricing and 1.75/Mcf gas pricing A+ 90% of Matadors remaining 2020 oil production is hedged at a…
Delaware Basin Continuing to Deliver Strong Well Results Matador Acreage Reducing operated rigs in Delaware Basin TWIN LAKES 44,400 gross / 24,800 net acres from six to three by the end of Q2 2020 During full-year 2020: Stateline:…
First Six Rodney Robinson Wells Online Results Above Expectations Rodney Robinson Acreage Rodney Robinson Summary and Highlights First six wells turned to sales on the Rodney Robinson Acreage tract in western Antelope Ridge in late Q1…
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…
Greater Stebbins Area Eddy County, New Mexico Greater Stebbins Area Summary and Highlights ARROWHEAD 64,900 gross / 26,500 net acres Approximately 11,200 gross (5,000 net) acres Acreage Currently producing from three primary…
Capital Efficiency Gains: Better Wells for Less Money Lease Line 2 One-mile Wolfcamp A wells(1) 1 Two-mile Wolfcamp A well(1) Perforation Zone 10% less 10% additional completable lateral completable lateral 4,450 4,450 4,450…
Delaware Basin Drilling Records Since MAXCOM Implementation Recent Spud to TD Drilling Records: 86 MTDR Drilling Records and 9.4 Million Jack Sleeper 201H 17.8 days 2-mile well Estimated Savings Since MAXCOM Rodney Robinson 122H 18.8…
San Mateo(1) Assets and Operations Three-Pipe Offering Eddy County, NM Assets Loving County, TX Assets 1 Mile Greater Stebbins Area Wolf 43 miles Natural Gas and Oil Pipelines 1 Mile Rustler Breaks Natural Gas Gathering…
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) 250 300 Up 7% sequentially; Down 23%…
Marketing and Takeaway Overview Three-Stream Takeaway Marketing and Midstream Adding Value Oil The combined efforts of Matadors marketing and midstream teams have significantly increased Matador expects to have approximately 90% of…
2020 Priorities Protecting the Balance Sheet is First Priority Balance Sheet Improvements Significant 2020 Production Milestones 1 Reducing Rig Count from 6 to 3 rigs Q3 2020 and Beyond 1 First Rodney Robinson wells turned to sales…
Key Results vs. Matador Guidance(1) Q1 2020 Lease Operating Total Oil Production Total Oil Equivalent Expenses (MBbl) Production (MBOE) (/BOE) Actual: 3,697 . +3% Actual: 6,476 . +2% Actual: 4.77 . -5% Guidance: 3,600 Guidance:…
Updated 2020 Capital Investment Plan Summary Updated 2020 CapEx Guidance(1)(2)(3) 565 million (original 2020 CapEx estimates reduced by 250 million) (Delaware: Moving from 6 to 3 operated rigs by end of Q2 2020) 2020E Wells Turned…
2020 Oil and Natural Gas Production Estimates(1) Total Oil and Natural Gas Production 2020E CapEx(1)(2) (Midpoint): Natural Gas, Bcf D/C/E: 470 MM Midstream(3): 95 MM Oil, MBbl 2020E Oil Production 9% Growth YoY Total: 565 MM Estimated…
Hedging Profile Remainder of 2020, 2021 and 2022 Matador restructured existing hedges and added new hedges since April 1, 2020 to protect the balance sheet and cash flows Oil Collars, Swaps, Puts Midland-Cushing Basis Swaps Natural Gas…
Simple Balance Sheet No Near-Term Debt Maturities Strong, supportive bank group led by Royal Bank of Canada Based on December 2019 reserves review, borrowing base affirmed at 900 million in February 2020 (Spring 2020 redetermination)…
Summary and Updated 2020 Guidance (as Provided on April 29, 2020) Six rigs operating in the Delaware Basin dropping to three by end of Q2 2020 Production expected to be more uneven or lumpy than in previous years Q4 2020 expected to…
Annual Meeting of Shareholders June 5, 2020
Appendix June 5, 2020
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 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)…
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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