Profile: Matador Resources Co (MTDR.K)
4 Mar 2015
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. Its operations are focused primarily on the oil and liquids-rich 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 a large exploratory leasehold position in Southwest Wyoming and adjacent areas of Utah and Idaho where it is testing the Meade Peak shale.
The Company focuses on the exploration and development of its Eagle Ford shale properties in South Texas. During 2012, the Company completed and began producing oil and natural gas from 28 gross/24.5 net operated Eagle Ford shale wells, including 25 gross/23.7 net operated and 3 gross/0.8 net non-operated Eagle Ford shale wells. During 2012, 43% of its daily production, or 3,908 barrels of oil equivalent (BOE) per day, including 3,246 one stock tank barrel (Bbl) of oil per day and 4.0 one million cubic feet of natural gas (MMcf) of natural gas per day, was produced from the Eagle Ford shale in South Texas. During 2012, the Company drilled and completed a total of 32 gross/30.5 net Eagle Ford wells on its operated properties. As of December 31, 2012, its aggregate leasehold interests consisted of approximately 42,500 gross acres and 27,900 net acres in the Eagle Ford shale play in Atascosa, DeWitt, Gonzales, Karnes, LaSalle, Wilson and Zavala Counties in South Texas.
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. As of December 31, 2013, its properties included approximately 39,000 gross (27,100 net) acres in the Eagle Ford shale play in Atascosa, DeWitt, Gonzales, Karnes, La Salle, Wilson and Zavala counties in South Texas. During the year ended December 31, 2013, the company acquired approximately 1,720 gross (1,660 net) acres in the Eagle Ford shale play. As of December 31, 2013, the company had 73 gross (63.3 net) wells producing from the Eagle Ford shale in South Texas. The company had drilled and completed a total of 61 gross (59.5 net) Eagle Ford wells on its operated properties, and the company had also participated in 12 gross (3.8 net) Eagle Ford wells with co-working interest owners on certain of its non-operated Eagle Ford properties.
During 2013, the company had two contracted drilling rigs operating full-time in South Texas and all of its operated drilling and completion activities were focused on the Eagle Ford shale. The company is drilling on 40-acre spacing on most of its properties in central and northern La Salle County, northern Karnes County and southern Wilson County.
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 extensive developments in various petroleum systems resulting in stacked target horizons in many areas. During 2013, the company added significantly to its acreage position and initiated an exploration program to begin testing its Permian Basin leasehold. The company acquired an additional 55,400 gross (38,900 net) acres in Southeast New Mexico and West Texas. As of December 31, 2013, its leasehold position included approximately 70,800 gross (44,800 net) acres in the Permian Basin, primarily in Lea and Eddy counties, New Mexico and Loving County, Texas in the western Permian Basin.
As of December 31, 2013, approximately 7,000 gross (4,900 net) of these acres were held by production. Northwest Louisiana and East Texas As of December 31, 2013, the company held approximately 28,600 gross (25,800 net) acres in Northwest Louisiana and East Texas.
Haynesville and Middle Bossier Shales
As of December 31, 2013, the company had approximately 22,700 gross (15,000 net) acres in the Haynesville shale play, primarily in Northwest Louisiana. Cotton Valley, Hosston (Travis Peak) and Other Shallower Formations 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, 2013, are held by existing production from the Cotton Valley formation or the Haynesville shale. As of December 31, 2013, the company held an estimated 13,800 gross (11,400 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, 2013, the company held leasehold interests in approximately 76,500 gross (36,000 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
STE. 1500, 5400 LBJ FREEWAY
DALLAS TX 75240