Profile: Matador Resources Co (MTDR.K)

MTDR.K on New York Consolidated

21.67USD
4 Aug 2015
Change (% chg)

$0.20 (+0.93%)
Prev Close
$21.47
Open
$21.64
Day's High
$22.09
Day's Low
$21.39
Volume
1,467,705
Avg. Vol
997,146
52-wk High
$29.90
52-wk Low
$14.08

Search Stocks

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 operations are focused primarily on the oil and liquids portion of the Eagle Ford shale play in South Texas and the Wolfcamp and Bone Spring plays in the Permian Basin in Southeast New Mexico and West Texas. The Company also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas. In addition, it has an exploratory leasehold position in Southwest Wyoming and adjacent areas of Utah and Idaho where the Company is testing the Meade Peak shale.

The Company is active both as an operator and as a co-working interest owner with industry participants, including affiliates of EOG Resources, Inc., Royal Dutch Shell plc, Chesapeake Energy Corporation, EP Energy Company, Concho Resources Inc., Devon Energy Corporation, BHP Billiton and others. As of December 31, 2014, the Company was the operator for over 90% of its Eagle Ford acreage and approximately two-thirds of its Haynesville acreage, including approximately 36% of its acreage. As of December 31, 2014, the Company also operated the majority of its acreage in the Permian Basin in Southeast New Mexico and West Texas, as well as all of its acreage in Southwest Wyoming and the adjacent areas of Utah and Idaho.

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 Eagle Ford is a calcareous shale and lies between the deeper Buda limestone and the shallower Austin Chalk formation. As of December 31, 2014, its properties included approximately 39,900 gross (27,700 net) acres in the Eagle Ford shale play in Atascosa, DeWitt, Gonzales, Karnes, La Salle, Wilson and Zavala counties in South Texas. As of December 31, 2014, the company had 117 gross (99.2 net) wells producing from the Eagle Ford shale in South Texas. The company had drilled and completed a total of 97 gross (93.2 net) Eagle Ford wells on its operated properties, and the company had also participated in 20 gross (6.0 net) Eagle Ford wells with co-working interest owners on certain of its non-operated Eagle Ford properties.

During 2014, the company completed and began producing oil and natural gas from 44 gross (36.7 net) Eagle Ford shale wells drilled on its acreage position in South Texas, including 36 gross (34.5 net) operated and eight gross (2.2 net) non-operated wells. In 2014, 65% of the Company's total daily oil equivalent production, or 10,501 barrels of oil equivalent (BOE) per day, including 7,764 Bbl (stock tank barrel) of oil per day and 16.4 million cubic feet of natural gas (MMcf) of natural gas per day, was produced from the Eagle Ford shale. The Eagle Ford shale contributed approximately 85% of its daily oil production and approximately 39% of its daily natural gas production during 2014. As of December 31, 2014, approximately 32% of the Company's estimated total proved oil and natural gas reserves, or 22.3 million BOE, was attributable to the Eagle Ford shale, including approximately 16.1 million Bbl of oil and 36.9 billion cubic feet (Bcf) of natural gas. The company's Eagle Ford total proved reserves at December 31, 2014 comprised approximately 67% of its proved oil reserves and 14% of its proved natural gas reserves.

Southeast New Mexico and West Texas - Permian Basin

The Permian Basin in Southeast New Mexico and West Texas is a mature exploration and production province with developments in various petroleum systems resulting in stacked target horizons in many areas. As of February 27, 2015, the Company's Permian Basin has acreage of approximately 152,400 gross (85,400 net) acres. During 2014, the Company completed and began producing oil and natural gas from 11 gross (9.6 net) wells in the Permian Basin, including 10 gross (9.5 net) operated wells and one gross (0.1 net) non-operated wells. During 2014, 11% of the Company's daily oil equivalent production, or 1,790 BOE per day, including 1,314 Bbl of oil per day and 2.9 MMcf of natural gas per day, was produced from the Permian Basin. The Permian Basin contributed approximately 14% of its daily oil production and approximately 7% of its daily natural gas production during 2014. As of December 31, 2014, approximately 19% of the Company's estimated total proved oil and natural gas reserves, or 13.0 million BOE, was attributable to the Permian Basin, including approximately 8.1 million Bbl of oil and 29.9 Bcf of natural gas. During 2014, the Company operated five contracted drilling rigs - two rigs in the Eagle Ford shale in South Texas and three rigs in the Permian Basin in Southeast New Mexico and West Texas. As of March 02, 2015, the Company has approximately 152,400 gross (85,400 net) acres, in the Permian Basin.

Northwest Louisiana and East Texas

The Company did not conduct any operated drilling and completion activities on its leasehold properties in Northwest Louisiana and East Texas during 2014, although it participated in the drilling and completion of 46 gross (4.2 net) non-operated Haynesville shale wells. As of December 31, 2014, Chesapeake completed and placed 14 gross (3.3 net to us) wells on production. As of December 31, 2014, the Company held approximately 27,300 gross (24,400 net) acres in Northwest Louisiana and East Texas, including 21,300 gross (13,600 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 outside of the Haynesville shale play. During 2014, approximately 24% of its average daily oil equivalent production, or 3,791 BOE per day, including 17 Bbl of oil per day and 22.6 MMcf of natural gas per day, was attributable to its leasehold interests in Northwest Louisiana and East Texas. Natural gas production from these properties comprised approximately 54% of its daily natural gas production. During 2014, approximately 47% of the Company's daily natural gas production, or 19.7 MMcf of natural gas per day, was produced from the Haynesville shale, with approximately 7%, or 2.9 MMcf of natural gas per day, produced from the Cotton Valley and other shallower formations on these properties.

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 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. As of December 31, 2014, the company had approximately 21,300 gross (13,600 net) acres in the Haynesville shale play, primarily in Northwest Louisiana.

Cotton Valley, Hosston (Travis Peak) and Other Shallower Formations

The Company owns almost 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 the company’s acreage in its Elm Grove/Caspiana properties in Northwest Louisiana, approximately 10,000 gross (9,800 net acres) at December 31, 2014, are held by existing production from the Cotton Valley formation or the Haynesville shale. The Company also holds the shallow rights primarily by existing production on its Central and Southwest Pine Island, Longwood, Woodlawn and other prospect areas in Northwest Louisiana and East Texas. As of December 31, 2014, the company held an estimated 12,300 gross (9,800 net) leasehold and mineral acres by existing production in these areas.

Southwest Wyoming, Northeast Utah and Southeast Idaho Meade Peak Shale

As of December 31, 2014, the Company held 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. As of December 31, 2014, the Company had not established commercial natural gas production on this prospect. The Company had no production, no proved reserves and no engineered drilling locations attributable to this acreage at December 31, 2014.

Company Address

Matador Resources Co

5400 Lyndon B Johnson Fwy Ste 15
DALLAS   TX   75240-1017
P: +1972.3715200
F: +1972.3715201

Company Web Links

Search Stocks