Profile: Matador Resources Co (MTDR.K)
27 Mar 2017
Matador Resources Company, incorporated on November 22, 2010, is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company's segment is oil and natural gas exploration and production. The Company's operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. The Company also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas.
Southeast New Mexico and West Texas-Delaware Basin
The Permian Basin in Southeast New Mexico and West Texas is a mature exploration and production province with extensive developments in various petroleum systems resulting in stacked target horizons. In the western part of the Permian Basin, also known as the Delaware Basin, the Lower Permian age Bone Spring (also called the Leonardian) and Wolfcamp formations are several thousand feet thick and contain stacked layers of shale's, sandstones, limestone's and dolomites. The Company's total acreage position in Southeast New Mexico and West Texas had increased to approximately 157,100 gross (88,800 net) acres, primarily in Loving County, Texas and Lea and Eddy Counties, New Mexico. These acreage totals included approximately 32,100 gross (19,400 net) acres in Ranger prospect area in Lea County, approximately 47,400 gross (16,900 net) acres in Arrowhead prospect area in Eddy County, approximately 20,700 gross (13,400 net) acres in Rustler Breaks prospect area in Eddy County, approximately 12,200 gross (7,500 net) acres in Wolf and Jackson Trust prospect areas in Loving County and approximately 42,300 gross (29,900 net) acres in Twin Lakes prospect area in Lea County. The Company operates approximately three drilling rigs in the Delaware Basin, including two in Loving County, Texas and one in Eddy County, New Mexico.
South Texas-Eagle Ford Shale and Other Formations
The Eagle Ford shale extends across portions of South Texas from the Mexican border into East Texas forming a band roughly 50 to 100 miles wide and 400 miles long. The Company's properties include approximately 39,000 gross (29,300 net) acres in the Eagle Ford shale play in Atascosa, DeWitt, Gonzales, Karnes, La Salle, Wilson and Zavala Counties in South Texas. The Company operates approximately two rigs in the Eagle Ford shale in South Texas.
Northwest Louisiana and East Texas
The Company has approximately 26,700 gross (23,800 net) acres in Northwest Louisiana and East Texas, including 20,700 gross (13,000 net) acres in the Haynesville shale play. The Company operates all of its Cotton Valley and shallower production on its leasehold interests in Northwest Louisiana and East Texas, as well as all of its Haynesville production on the acreage.
Haynesville and Middle Bossier Shales
The Haynesville shale is an overpressured marine shale found below the Cotton Valley and Bossier formations and above the Smackover formation at depths ranging from 10,500 to 13,500 feet across a broad region throughout Northwest Louisiana and East Texas, including principally Bossier, Caddo, DeSoto and Red River Parishes in Louisiana and Harrison, Rusk, Panola and Shelby Counties in Texas. The Haynesville shale produces primarily dry natural gas with almost no associated liquids. The Bossier shale is overpressured and is often divided into lower, middle and upper units. The Company has approximately 20,700 gross (13,000 net) acres in the Haynesville shale play, primarily in Northwest Louisiana.
Cotton Valley, Hosston (Travis Peak) and Other Shallower Formations
The Company owns all of the shallow rights from the base of the Cotton Valley formation to the surface under its acreage in Northwest Louisiana and East Texas. All of the shallow rights underlying its acreage in Elm Grove properties in Northwest Louisiana, approximately 10,000 gross (9,800 net) acres are held by existing production from the Cotton Valley formation or the Haynesville shale.
Southwest Wyoming, Northeast Utah and Southeast Idaho-Meade Peak Shale
The Company has leasehold interests in approximately 75,700 gross (35,700 net) acres in Southwest Wyoming and adjacent areas in Utah and Idaho as part of a natural gas shale exploration prospect targeting the Meade Peak shale. These leasehold interests are a combination of federal, state and fee mineral interests.
Matador Resources Co
5400 Lyndon B Johnson Fwy Ste 15
DALLAS TX 75240-1017
Company Web Links
- BRIEF-Matador Resources updates 2017 guidance
- BRIEF-Matador Resources reports Q4 GAAP earnings per share $1.09
- BRIEF-Matador Resources announces formation of JV for Delaware basin midstream assets
- Leaner and meaner: U.S. shale greater threat to OPEC after oil price war
- BRIEF-Matador Resources amended and restated senior secured revolving credit agreement