2022 Operating Plan and Market Guidance February 22, 2022
2022 Priorities and Milestones Free Cash Flow, Operational Excellence and Shareholder Returns 2022 Priorities Significant 2022 Milestones - Timeline Deliver Free Cash Flow 1 Next 11 Voni (Stateline) wells to sales Grow production to…
Summary and 2022 Guidance (as Provided on February 22, 2022) Actual %YoY Guidance Metric 2022 Guidance 2021 Results Change(1) Total Oil Production 17.8 million Bbl 21.0 to 22.0 million Bbl + 21% Total Natural Gas Production 81.7 Bcf…
Matadors 2022 Delaware Basin Operated Drilling Program Rustler Breaks DELAWARE BASIN 237,200 gross / 124,800 net acres TWIN LAKES 28 gross (15.9 net) wells in progress for 2022 42,900 gross / 20,500 net acres 20 gross (12.4 net)…
Wells Turned to Sales 2022 Guidance(1) During full year 2022, Matador expects to turn to sales 182 gross (69.7 net) wells. Matador expects the Delaware Basin to account for 169 gross (69.0 net) wells, including 80 gross (60.8 net)…
2022 Capital Investment Plan Summary(1) Full Year 2022E CapEx(2) 730 million Midpoint (Delaware: Adding 6th operated rig by end of Q1 2022) 2022E Wells Turned to Sales Actual % YoY 2021 Results 2022 Guidance Change(3) Gross Net…
D&C Costs Expected to Increase in 2022: Record Low Costs in 2021 Cost Inflation Ahead in 2022 Drilling & Completion (D&C) CapEx/ft(1) Percentage of Two-Mile Laterals (/ft) Avg. Lateral 4,700 5,700 8,800 10,500 9,850 Length +21%…
Maintaining Low CapEx During High Commodity Prices: Continued Improvement in Execution and Efficiency Gains Drilling & Completion (D&C) CapEx/ft(1) Operational Improvement Spotlight: (/ft) 1,750 D&C CapEx/ft WTI Oil Price 2022E…
2022 Oil and Natural Gas Production Estimates(1) Total Oil and Natural Gas Production 19% 2022E Oil Production 21% Growth YoY 2022E CapEx(1)(2) (Midpoint): Natural Gas, Bcf D/C/E: 675 MM 37,300 Oil, MBbl Estimated oil production of…
2022 Total Production Forecast by Quarter(1) Natural Gas, MMcf/d 2022E Quarterly Production Cadence Oil, Bbl/d Stateline shut-ins occurred Minimal production impact Production impact of 9 Minimal production impact Production impact…
San Mateo Differentiated Midstream Asset Continues to Add Value to Matador(1) 2015-2016 2017-2018 2019-2020 2021+ Initial midstream build-out San Mateo I formed in San Mateo II formed in Adj. free cash flow(2) in the Delaware Basin…
2022E Operating Cost Estimates (Unit Costs per BOE) Matador provides the following updated estimates for its 2022 unit operating costs as shown below 2020 2021 Q4 2021 2022E Production taxes, transportation and processing 1 3.39 5.69…
Hedging Profile Remainder of 2022(1) Oil Collars Midland-Cushing Basis Swaps Natural Gas Collars 25% hedged for 2022 25% hedged for 2022 60-65% hedged for Q1-Q3 2022 40-45% hedged for Q4 2022 16.0 15.6 15.6 1,380 1,380 1,380…
Appendix
Increased by 50% in November 2021 Matador Resources and San Mateo Credit Facilities Matador Credit Agreement Summary Bank group led by Royal Bank of Canada Last Elected Borrowings Letters of Credit Financial Covenant: Facility…
Adjusted EBITDA & Adjusted Free Cash Flow Reconciliations 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…
Adjusted EBITDA Reconciliation Matador Resources Company The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided…
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 cash…
Adjusted EBITDA Reconciliation San Mateo(1) (100%) The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by…
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 Free Cash Flow Reconciliation Matador Resources Company The following table presents the calculation of adjusted free cash flow and the reconciliation of adjusted free cash flow to the GAAP financial measure of net cash…
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