Matador History Predecessor Entities Foran Oil & Matador Petroleum Founded by Joe Foran in 1983 most participants are still shareholders today. Foran Oil funded with 270,000 in contributed capital from 17 friends and family members…
Company Overview Exchange: Ticker NYSE: MTDR Shares Outstanding(1) 73.3 million common shares Share Price(2) 24.65/share Market Capitalization(1)(2) 1.8 billion 2012 Actual 2013 Actual 2014 Guidance(3) Capital Spending 335…
Matadors Execution History Doing What We Say Matador continues to execute on its core strategy of acquiring great assets, retaining a best-in-class workforce, maintaining a strong balance sheet and generating significant shareholder…
Delivering Strong Results Q1 2014 Achievements 2014 Updated Capital Budget and Guidance Oil Production Company Record 570 million capital budget for 2014 7,344 Bbl/d; 44% growth versus Q1 2013 Adjusted EBITDA(1) of 270 to 290 million…
Matador Resources Company Overview Market Capitalization(1) 1.8 billion Average Daily Production(2) 11,904 BOE/d Oil (% total) 7,344 Bbl/d (62%) Natural Gas (% total) 27.4 MMcf/d (38%) Proved Reserves 3/31/14 54.6 million BOE %…
Asset Highlights Permian Basin Eagle Ford Shale Haynesville Shale Exploratory Program Development Program Natural Gas Bank Completion of equity offering will Currently running a 2 walking rig drilling 25,100 net acres in NW…
Keys to Matadors Success People We have a strong, committed technical and financial team in place, and we continue to make additions and improvements to our staff, our capabilities and our process Board and Special Advisor additions…
Eagle Ford South Texas
2014 South Texas Plan Details 2014 projected capital expenditures of 318 million or 56% of total 2-rig program with almost all of the 2014 South Texas capital budget directed to the Eagle Ford shale Drill and/or complete or…
Eagle Ford Overview Operations Summary 73 gross (63.3 net) wells(1) producing from the Eagle Ford Proved Reserves 3/31/14 19.4 million BOE An increase in oil production from 330 Bbl/d(2) % Proved Developed 59% in 2011 to 6,400…
Eagle Ford Well Costs and Estimated Ultimate Recovery (EUR) EAGLE FORD ACREAGE TOTALS EAGLE FORD EAST Nickel Ranch 40,377 gross / 28,405 net acres Measured Depth: 17,000 18,000 Hennig Well Costs: 8-10 million EUR: 600-1,000 MBOE…
Operational Improvements (Normalized) Overview Eagle Ford Drilling Costs / Drilled Foot(1) West Central East Over the past two years, made significant progress and increased 271 258 260 knowledge of how to drill, complete 242 and…
Evolution of Matador Eagle Ford Frac Design Gen 2 Gen 3 Gen 4 Gen 5 Gen 6 650 Mlbs 515 Mlbs Proppant 500 Mlbs 405 Mlbs Pumped(1) 375 Mlbs Fluid Volume 11,750 Bbl 11,750 Bbl Pumped 7,825 Bbl 9,550 Bbl 5,770 Bbl 300 ft.…
Frac Generation Comparison (all wells normalized to 5,000 horizontal) 120,000 120,000 110,000 GEN 2 (80 Acre) GEN 2 (80 Acre) 110,000 100,000 GEN 4 (80 Acre) GEN 4 (80 Acre) 100,000 90,000 GEN 5 (80 Acre) 90,000 GEN 5 (80 Acre)…
Downspacing Comparison (all wells normalized to 5,000 horizontal) 60000 60000 Average 40 Acre (Gen 5-6) Average 40 Acre (Gen 5-6) 50000 Average 80 Acre (Gen 2-4) 50000 Average 80 Acre (Gen 2-4) Cumulative Oil Production (bbl)…
Improvement in Drilling Efficiency Moving Towards Batch Drilling Single Well Drilling PAD Drilling BATCH Drilling EXPLORATION 2010 1/3 RIG 60 to 70% increase 2011 2/3 RIG in Rig Efficiency from 2012 to 2014E 2012 2 RIGS 2013 1…
Compressing Drill Times Improving rig fleet High tech, fast moving, faster drilling, walking style rigs Improving Rate of Penetration (ROP) Bit selection and development Bottom Hole Assembly (BHA) selection Rotary steerable…
Progression of Drilling Rig Technology from 2010 to 2014 Advancing Rig Technology HYDRAULIC CATWALK AC DRIVE ROUND 1600 HP INTEGRATED APEX RIG BOP WALKING RIG ELECTRIC SYSTEM BOTTOM MUD PUMPS TOP DRIVE (FAST MOVE) HANDLER…
Artificial Lift Flowing Rod Pumping Gas Lifting Benefits of Gas Lift Accelerates production Accelerated Production Reduces LOE 300 Bbl/d Lower maintenance Helps wells recover faster from offset fracs 100 Bbl/d Time Note:…
Buda Wells Activity Since January 1, 2010 Potential Test Blackbrush O&G 10 Buda Completions May 2011 Feb. 2014 Cum: 240 MBbl Blackbrush O&G 1.13 Bcf Oppenheimer-101H Comp May 2013 11 mo avg: 165 Bbl/d TX American 440 Mcf/d…
Glasscock Ranch Seismic Mapping of Natural Fracture Trends Glasscock Ranch Frio South Survey: Amplitude at Time Slice Near Top Buda TX American Resources Buchanan-1H 5/3/2013 Crimson Exploration IP: 756 Bbl/d Beeler-4H 556 Mcf/d…
Permian Basin Southeast New Mexico and West Texas
2014 Permian Basin Plan Details 2014 projected capital expenditures of 190 million or 33% of total Continue 2-rig program working in Lea and Eddy Counties, NM and Loving County, TX Drill and/or complete or participate in 14 gross…
Permian Basin TWIN LAKES Permian Basin Total 32,417 gross / 22,151 net acres Gross Acres 86,953 acres Net Acres 56,199 acres INDIAN DRAW / RUSTLER BREAKS Estimated 241 gross (177.7 net) engineered drilling 17,128 gross / 12,341…
Targeting Multiple Benches in Permian Appraisal Program GR RES Brushy Canyon Sand Bone Spring Lime Matador has successfully Upper Avalon Shale drilled four Lower Avalon Shale horizontal wells targeting First Bone Spring Sand…
Wolf-Bone Geological Setting, Predicting Where the Better Rocks Are 265 mya End of Bone Springs Warmer Delaware Basin Delaware Mountain Group San Andres 1st, 2nd, 3rd Bone Spring Sands Yeso Abo Sands confined to channels…
Permian Basin Petroleum Systems and the Wolfcamp Kitchens West East DELAWARE BASIN CENTRAL BASIN MIDLAND BASIN PLATFORM 23,000 Wolfcamp Sediment Fill Simpson Source Kitchens Now Unconventional Resource Plays 70,000…
Wolf / Loving Prospect Area Location of Matador wells Dorothy White 1H Loving Wolfcamp A 10,943 gross (7,000 net) acres 4 mo.cum: 100,000 BOE (66% oil) OXY 50 gross (35.4 net) locations(1) Reagan-McElvain 1H Wolfcamp A IP:…
Ranger / Querecho Plains Prospect Area Location of Matador wells Pickard Project 14,035 gross (9,847 net) acres Results expected in Q3 2014 Pickard 20-18-24 1H 2nd Bone Spring Pickard 20-18-24 2H Wolfcamp D 83 gross (59.6 net)…
Indian Draw / Rustler Breaks Prospect Area Rustler Breaks 12-24-27 1H Location of Matador wells Wolfcamp B Flowing: 1,160 BOE/d (560 Bbl/d + 3.6 MMcf/d; 48% oil) 17,128 gross (12,341 net) acres FTP(2): 2,750 psi on 20/64th inch…
Twin Lakes Prospect Area Saunders Denton Location of Matador well Penn/Perm Caudill Wolfcamp/Devonian 43 MMBbl, 62 Bcf Penn/Perm 157 MMBbl, 78 Bcf 8.1 MMBbl, 6.0 Bcf Dean Penn/Perm 9.5 MMBbl, 6.0 Bcf 32,417 gross (22,151 net)…
Twin Lakes Area Cross Section A A Wolfcamp D 400ft TEST VOLUMES: 268 Bbl/d oil TEST VOLUMES: 350 Mcf/d gas 118 Bbl/d oil No water 625 Mcf/d gas 1,155 Bbl/d water 35
Matador Permian Basin First Generation Frac Designs Bone Spring Wolfcamp 550 Mlbs 600 Mlbs Proppant Pumped(1) Fluid Volume 11,750 Bbl 11,750 Bbl Pumped 300 ft. 0 ft. Note: Figure depicts proppant and fluid volume pumped…
Haynesville Shale
2014 Tier 1 Haynesville Shale Plan 2014 projected capital expenditures of 62 million or about 11% of total Estimated participation in 56 gross (7.8 net) non-operated wells(1) Chesapeake may drill up to 30 gross (6.3 net to Matador)…
Significant Option Value on Natural Gas Elm Grove Area TIER 3: 2 4 Bcf NW Louisiana / East Texas(1) BOSSIER TIER 2: 4 6 Bcf Proved Reserves(2) 187.8 Bcfe CADDO 2,104 BOE/d BIENVILLE Daily Production(3) (99% natural gas) TIER 1: 6…
Summary and Updated 2014 Guidance(1) Continue 4-rig program full-time in H2 2014 2 rigs in the Eagle Ford and 2 rigs in the Permian Eagle Ford development expected to be the major driver of our growth in 2014 Permian drilling program…
2014 Updated Capital Investment Plan Summary Continue 4-rig program full time in H2 2014: 2 rigs in the Eagle Ford and 2 rigs in the Permian 2014E capital expenditures of 570 million(1) Eagle Ford development expected to be the…
Funding for 2014 Capital Investment Plan Anticipate funding 2014 capital expenditures through proceeds from recent equity offering, operating cash flows and borrowings under revolving credit facility 1.8 million barrels of oil…
Investment Highlights Strong Growth Profile YE2011 to 2014E oil production CAGR of 172%(1) with expected year-over-year growth of 45%(1) in 2014 with Increasing Focus on Oil / Liquids 89% of 2014E CapEx program focused on oil /…
Appendix
Matadors Continued Growth Average Daily Production Oil Production Mix (MBOE/d) (% of Average Daily Production) 11.7 50% 9.0 37% 7.0 3.9 2.3 1.5 7% 6% 4% 2% 2008 2009 2010 2011 2012 2013 2008 2009 2010 2011 2012 2013…
Recent Semi-Annual Performance Metrics Through Year-End 2013 Oil Production Oil Equivalent Production (Bbl in thousands) (BOE in thousands) 2,341 1,225 1,944 1,768 908 1,525 729 1,277 485 84 2H 2011 1H 2012 2H 2012…
Matador Provides Growth on a Per Share(1) Basis PV-10(2) per Share Adjusted EBITDA(3)(4) per Share ( per share) ( per share) 11.15 3.99 7.84 3.26 5.82 2.15 2.92 1.17 1.75 0.58 0.38 2009 2010 2011 2012 2013 2009 2010…
Historical Financials and Margins Year Ended December 31, 2011 2012 2013 Production Oil Production (MBbl) 154 1,214 2,133 Significant Natural Gas Production (Bcf) 14.5 12.5 12.9 increases in oil % Oil 6% 37% 50% production . . .…
Oil Production and Revenues Through Q1 2014 Average Daily Oil Production Average Daily Natural Gas Production (Bbl/d) (MMcf/d) 8,000 50.0 7,344 44.6 Q1 down due to timing, shut-ins 7,000 15 to 20% shut-in at times during Q1 6,703…
Quarterly Performance Metrics Through Q1 2014 Average Daily Equivalent Production Oil and Natural Gas Revenues (BOE/d) ( in mm) 16,000 90.0 81.9 78.9 14,000 15 to 20% shut-in at times during Q1 13,482 80.0 11,968 69.7 11,904 70.0…
Quarterly Expense Metrics Through Q1 2014 Production Taxes and Marketing Lease Operating (per BOE) (per BOE) 11.17 11.11 5.61 10.53 6.00 12.00 5.33 5.29 Reflects growth in oil Another good production/revenues…
2014 Hedging Profile Hedges in Place for Remainder of 2014 At May 6, 2014, Matador had: Oil Hedges (Costless Collars) 2014 1.8 million barrels of oil hedged for Total Volume Hedged by Ceiling (Bbl) 1,750,000 Bbl remainder of 2014 at…
Board of Directors and Special Advisors Expertise and Stewardship Board Members Professional Experience Business Expertise David M. Laney - Past Chairman, Amtrak Board of Directors Law and Investments Lead Director - Former Partner,…
Proven Management Team Experienced Leadership Industry Matador Management Team Background and Prior Affiliations Experience Experience Joseph Wm. Foran - Matador Petroleum Corporation, Foran Oil Company and James Cleo 33 years Since…
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…
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,…
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,…
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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