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) 25.43/share Market Capitalization(1)(2) 1.9 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 Q2 2014 Achievements 2014 Capital Budget and Guidance Oil Production Company Record 570 million capital budget for 2014 8,809 Bbl/d; 79% growth versus Q2 2013 Adjusted EBITDA(1) of 270 to 290 million Oil &…
Matador Resources Company Overview Market Capitalization(1) 1.9 billion Average Daily Production(2) 15,424 BOE/d Oil (% total) 8,809 Bbl/d (57%) Natural Gas (% total) 39.7 MMcf/d (43%) Proved Reserves 6/30/14 57.2 million BOE % Proved…
Asset Highlights Permian Basin Eagle Ford Shale Haynesville Shale Exploratory and Delineation Program Development Program Natural Gas Bank Currently running a two-rig drilling Currently running a two walking rig 25,000 net acres in…
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 94 gross (80.6 net) wells(1) producing from the Eagle Ford Proved Reserves 6/30/14 21.4 million BOE An increase in oil production from 330 Bbl/d(2) % Proved Developed 59% in 2011 to 7,800…
Eagle Ford Measured Depths and Well Costs EAGLE FORD ACREAGE TOTALS EAGLE FORD EAST Nickel Ranch 40,615 gross / 29,149 net acres Measured Depth: 17,000 18,000 Hennig Well Costs: 8-10 million 80-acre spacing Uvalde Medina Gonzales San…
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…
Technology Transfer and Application from Eagle Ford to Permian New rigs arriving in 2015 have even more advanced technology than current Eagle Ford rigs Walking packages, hydraulic catwalks, reconfiguration of rig layouts, high…
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 Reducing Natural Production Declines 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…
Buda Wells Activity Since January 1, 2010 Potential Test TX American Blackbrush O&G Resources 10 Buda Completions Buchanan-1H May 2011 May 2014 5/3/2013 Cum: 250 MBbl Blackbrush O&G 14 mo avg:: 1.4 Bcf Oppenheimer-101H 285 Bbl/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 37,702 gross / 26,408 net acres Gross Acres 94,045 acres Net Acres 61,951 acres INDIAN DRAW / RUSTLER BREAKS Progress-to-date(1) 18,148 gross / 13,376 net acres Successful performance…
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-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…
Targeting Multiple Benches in Permian Appraisal Program GR RES Brushy Canyon Sand Bone Spring Lime Matador is presently Upper Avalon Shale drilling its fifth Lower Avalon Shale horizontal target in First Bone Spring Sand separate…
Wolf / Loving Prospect Area Johnson 44-02S-B53 204H(3) Location of Matador wells Wolfcamp A Flowing back after completion Dorothy White 1H(2) Wolfcamp A Loving 8 mo.cum: 11,183 gross (7,155 net) acres Almost 200,000 BOE (66%…
Ranger / Querecho Plains Prospect Area Jim Rolfe 22-18-34 RN State 131Y(3) 3rd Bone Spring Sand Ready for completion Location of Matador wells Pickard State 20-18-34 2H(3) Wolfcamp D Still in flowback period of its completion…
Indian Draw / Rustler Breaks Prospect Area Rustler Breaks 12-24-27 1H Location of Matador wells Wolfcamp B 4 mo.cum: 86,000 BOE (45% oil) 18,148 gross (13,376 net) acres Mewbourne Oil Co. Layla 35 MD Fee 1H 108 gross (82.8 net)…
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 37,702 gross (26,408 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. Geometry of the Frac 0 ft. Note: Figure depicts…
Haynesville Shale
2014 Tier 1 Haynesville Shale Plan 2014 projected capital expenditures of 62 million or about 11% of total Estimated participation in up to 56 gross (7.8 net) non-operated wells 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) 187.0 Bcfe CADDO 3,069 BOE/d BIENVILLE Daily Production(3) (99% natural gas) TIER 1: 6…
Summary and 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 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 Eagle Ford development expected to be the major driver of…
Funding for 2014 Capital Investment Plan Anticipate funding 2014 capital expenditures through proceeds from May 2014 equity offering, operating cash flows and borrowings under revolving credit facility 0.9 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 /…
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 Mid-Year 2014 Oil Production Oil Equivalent Production (Bbl in thousands) (BOE in thousands) 2,475 1,463 2,341 1,225 1,944 1,768 908 1,525 1,277 729 485 84 2H 2011 1H…
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 Q2 2014 Average Daily Oil Production Average Daily Natural Gas Production (Bbl/d) (MMcf/d) 8,809 9,000 50.0 44.6 Q2 increase with NM, non-op production All-time high oil production in Q2 7,344…
Quarterly Performance Metrics Through Q2 2014 Average Daily Equivalent Production Oil and Natural Gas Revenues (BOE/d) ( in mm) 99.1 100.0 16,500 15,424 15,000 10 to 15% shut-in at times during Q2 All-time high in Q2 81.9 13,482…
Quarterly Expense Metrics Through Q2 2014 Production Taxes and Marketing Lease Operating (per BOE) (per BOE) 6.50 11.17 11.11 10.53 7.00 12.00 Reflects growth in oil Another solid LOE 5.61 production/revenues; some…
Hedging Profile Hedges in Place for Remainder of 2014 and 2015 At September 26, 2014, Matador had: Oil Hedges (Costless Collars) 2014 2015 0.9 million barrels of oil hedged for Total Volume Hedged by Ceiling 884,800 Bbl 1,680,000 Bbl…
Credit Agreement Status Strong, supportive bank group led by RBC Borrowing base at 450 million, based on July 31, 2014 reserves, increased from 385 million based on December 31, 2013 reserves, and increased from 125 million at time…
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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