Company Overview Completed IPO of 14,883,334 shares (12,209,167 primary) including overallotment at 12.00/share in March 2012 Exchange: Ticker NYSE: MTDR Shares Outstanding(1) 55.9 million common shares Share Price(1) 9.65/share…
Matador History Predecessor Entities Foran Oil & Matador Petroleum Founded by Joe Foran in 1983 Foran Oil funded with 270,000 in contributed capital from 17 friends and family members Sold to Tom Brown, Inc.(1) in June 2003 for an…
Matador Resources Snapshot Average Daily Production(1) 10,897 BOE/d Oil Production(1) (% total) 5,115 Bbl/d (47%) Gas Production(1) (% total) 34.7 MMcf/d (53%) Proved Reserves 3/31/13 23.6 million BOE % Proved Developed 60% %…
Investment Highlights Strong Financial Position and Prudent Risk Management High Quality Asset Base in Attractive Areas Eagle Ford provides immediate oil-weighted value and upside Expanding acreage position in Southeast New Mexico…
Matadors Continued Growth TOTAL OIL AND (1) (1) (1)(2) TOTAL OIL PRODUCTION NATURAL GAS REVENUES ADJUSTED EBITDA 1,900 230.0 165.0 156.0 115.9 1,214 Thousand Bbl in millions in millions 67.0 49.9 30.6 34.0…
Growth in PV-10(1) from Proved Reserves 500 450 91.21 oil 2.76 gas SEC Pricing 400 Oil, /Bbl Gas, /MMBtu 350 PV-10, millions 300 92.71 oil 4.12 gas 250 200 150 75.96 oil 4.38 gas 100 57.65 oil 3.87 gas 41.00…
Haynesville Total Resource Potential Price Sensitivity 800 Haynesville - Tier 2 (Undrilled), millions 700 Haynesville - Tier 1 (Undrilled), millions 98 600 Haynesville Proved Producing, millions 500 PV-10(1), millions…
Eagle Ford South Texas
Eagle Ford and Austin Chalk Overview Drilled and completed 38 gross / 36.5 net operated wells to date(1) Proved Reserves 3/31/13 14.5 million BOE Acreage positioned in some of the most % Proved Developed 50% active counties for Eagle…
Value of Proved Reserves Up 70% and Shifting to Oil Over Past Year Cotton Valley SE New Mexico 5.8 million, 1% 2.0 million, 0% SE New Mexico 2.4 million, 1% Haynesville Cotton Valley 21.8 million, 5% 19.5 million, 8%…
Eagle Ford Properties are in Good Neighborhoods Highlights Matadors acreage in counties with robust transaction activity good neighborhoods Transaction values ranging from 10,000 to 30,000 per acre Matadors Eagle Ford…
Eagle Ford Properties EAGLE FORD ACREAGE TOTALS EAGLE FORD EAST Nickel Ranch 41,302 gross / 27,720 net acres Bexar 7,730 gross / 6,330 net acres Hennig San Antonio Uvalde Medina Gonzales Lewton EOG OPERATED, MTDR WI 21%…
2012 Operated Eagle Ford Completion Results 24 Hour IP Tests (1) (2) (3)(4) (3)(4) (5) Well Name County Completion Date Perforated Length Top Perf Frac Stages Oil IP Gas IP Oil Equiv IP Choke Pressure Total (ft.) (ft.) (Bbl/day)…
Well Improvement with Evolution of Frac Design Eagle Ford East Offsetting Wells: Example 1 Eagle Ford Middle Offsetting Wells: Example 2 1,000 1,000 900 900 Fourth Generation Design Third Generation Design First Generation Design…
Eagle Ford Well Costs Declined During 2012 Western Acreage 12,000,000 Total Cost 5000' Normalized Cost 10,000,000 8,000,000 Total Well Cost 6,000,000 4,000,000 2,000,000 0 1 2 3 4 5 6 7 8 9 10 11 12…
Eagle Ford Well Costs Declined During 2012 Eastern Acreage 12,000,000 Total Cost 5000' Normalized Cost 10,000,000 8,000,000 Total Well Cost 6,000,000 4,000,000 2,000,000 0 1 2 3 4 5 6 7 8 9 10 Note:…
Average Frac Stage Cost per Well 450,000 Bauxite White Sand Resin-Coated Sand 400,000 350,000 300,000 Average Stage Cost 250,000 200,000 150,000 100,000 50,000 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15…
Eagle Ford Well Estimated ROR as a Function of EUR and Well Cost 90.00/Bbl NYMEX oil; 3.00/Mcf NYMEX natural gas Note: Individual well economics only. NGL price differential +1.85/Mcf. Oil price differential +7.00/Bbl. 21
Recent Technical Advancements in the Eagle Ford Rotary Steerable Tools Drilling time in curve and lateral reduced by two days Measurement While Drilling (MWD) telemetry closer to drill bit Improves ability to stay in sweet-spot…
Drilling Times and Efficiencies First 4 Wells Recent Wells * Bold wells utilized rotary steerable systems Note: As of January 25, 2013 23
Emerging Multi-Pay Area in Eagle Ford Oil Fairway and MTDR Acreage Guadalupe Bexar San Antonio Uvalde Medina Gonzales Multi-Pay Fairway with Pearsall, Austin Chalk and Buda potential Wilson Dewitt Atascosa Karnes Zavala…
Delaware Basin Southeast New Mexico and West Texas
Southeast New Mexico / West Texas Gross Acres(1) 30,605 acres Net Acres(1) 20,303 acres Foothold of existing production and reserves Acreage position in good neighborhoods, surrounded by other operators ongoing INDIAN DRAW…
Wolfbone Play in the Delaware Basin (West Texas) Stratigraphic Column Horizontal Targets Avalon Shale Depth: 7,900 8,300 (Oil Window) Density Porosity: 12-14% Thickness: 300-500 ft. Normal Pressure (0.45 psi/ft.) Total Organic…
Ranger Prospect Area: Proposed Wolfbone Multi-Zone Exploration Program and Surrounding Results Bone Spring / Upper Wolfcamp Concho Type Log Condor State 1H 0 GR (CTR) 150 0.2 0.2 LLS LLD 20 00 20 00 2nd Bone…
Wolf Leasehold: Proposed Wolfbone Multi-Zone Exploration Program and Surrounding Results Chesapeake Chesapeake Chesapeake Johnson 1-86 (1H) Johnson 1-88 Lov 1H Johnson 1-76 (1H) Wolfcamp Wolfcamp Wolfcamp 17 mo.cum: 10 mo.cum: 22…
Haynesville & Cotton Valley Northwest Louisiana and East Texas
Tier 1 Haynesville and Elm Grove Cotton Valley Acreage Positions Almost all prospective Haynesville acreage is HBP TIER 3: 2 4 Bcf BOSSIER TIER 2: 4 6 Bcf CADDO BIENVILLE TIER 1: 6 10+ Bcf MTDR CV Horizontal T. Walker 1H…
Haynesville Well Economics Tier 1 Area 300 8 Bcf - 8.0 MM D&C Cost 275 9 Bcf - 8.0 MM D&C Cost 250 10 Bcf - 8.0 MM D&C Cost 8 Bcf - 9.0 MM D&C Cost 225 9 Bcf - 9.0 MM D&C Cost Rate of Return, % 200 10 Bcf - 9.0 MM D&C…
Cotton Valley Horizontal Well Economics 100.0 4.0 Bcf - 5.6 MM D&C Cost 90.0 5.0 Bcf - 5.6 MM D&C Cost 6.0 Bcf - 5.6 MM D&C Cost 80.0 4.0 Bcf - 6.6 MM D&C Cost 5.0 Bcf - 6.6 MM D&C Cost 70.0 6.0 Bcf - 6.6 MM D&C Cost 60.0 ROR,…
Gracie Wyoming, Utah and Idaho
Matador Gracie Project Total Prospect Acreage WYOMING IDAHO UTAH WYOMING IDAHO UTAH Crawford Federal 1H 61,897 gross acres 30,492 net acres WYOMING Crawford Federal 1H completion scheduled for summer 2013 Note:…
Southwest Wyoming Stratigraphy and Target Zones Crawford Federal 1: Drilled straight hole in late 2011 2% TOC Cretaceous Shales Encountered 161 Meade Peak with 46 of main pay Recovered 50 conventional core across pay zone…
Financial Overview
2013 Financial Expectations 2013 Revenue and Adjusted EBITDA(1)(2) Oil and Natural Gas Revenues(2) (millions) 250.0 230.0 Estimated oil and natural gas revenues of 220 to 240 million 200.0 Mid-point is an increase of 47% from 156.0…
2013 Capital Investment Plan Highlights 2013 projected capital expenditures of approximately 325 million Drill and complete or participate in 48 gross/31.3 net wells in 2013 Including 31.0 gross/25.8 net Eagle Ford Shale and 3.0…
First Quarter 2013 Earnings Release Highlights Production Growth Oil production of 460,000 Bbl for the quarter ended March 31, 2013, a year-over-year increase of 130% from 200,000 Bbl of oil produced in the quarter ended March 31, 2012…
Financial Performance Average Daily Production Oil and Natural Gas Revenues (BOE/d) ( in mm) 12,000 70.0 10,897 59.3 10,000 60.0 8,023 50.0 8,000 6,300 40.0 6,000 29.2 30.0 4,000 3,417 20.0 13.7 9.2 2,000 10.0 0 0.0 1Q10…
2013 and 2014 Hedging Profile At May 8, 2013, Matador had: Oil Hedges (Costless Collars) 2013 2014 1.08 million barrels of oil hedged for Total Volume Hedged by Ceiling (Bbl) 920,000 1,680,000 remainder of 2013 at weighted average…
Reserves Summary at March 31, 2013 Total proved reserves: 23.6 million BOE at March 31, 2013, including 10.7 million Bbl of oil and 77.5 Bcf of natural gas Oil reserves grew 88% to 10.7 million Bbl from 5.7 million Bbl at March 31,…
Appendix
Board of Directors and Special Board Advisors Expertise and Stewardship Board Members Professional Experience Business Expertise and Advisors - Professor Emeritus and Former Head of Dept. of Petroleum Engineering, Texas A&M University…
Proven Management Team Experienced Leadership Industry Matador Management Team Background and Prior Affiliations Experience Experience Joseph Wm. Foran - Matador Petroleum Corporation, Foran Oil Company, 33 years Since Inception…
South Texas: Pearsall Play CHK Wilson C 1H 3.2 MMcf/d, 334 Bbl/d Cabot/Osaka JV 97 Bbls/MMcf Osaka 35% (14,285/ac. 17,500ac.) Abnd. For EGFD 6 Horiz. Drilled 3 Permits Schorp-White Ranch 101H 1st full mo. 4,535 Bbl, 43MMcf RH…
Adjusted EBITDA Reconciliation 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 provided by operating activities,…
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