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Profile: Matador Resources Co (MTDR.N)

MTDR.N on New York Stock Exchange

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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 segments include exploration and production, and midstream. 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. Additionally, the Company conducts midstream operations primarily, as of February 17, 2017, through its midstream joint venture, San Mateo Midstream, LLC (San Mateo or the Joint Venture), in support of its exploration, development and production operations and provides natural gas processing, natural gas, oil and salt water gathering services and salt water disposal services to third parties on a limited basis.

The exploration and production segment is engaged in the acquisition, exploration and development of oil and natural gas properties and is 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. The midstream segment conducts midstream operations in support of the Company's exploration, development and production operations and provides natural gas processing, natural gas, oil and salt water gathering services and salt water disposal services to third parties on a limited basis. As of December 31, 2016 and February 22, 2017, the Company operated four drilling rigs in the Delaware Basin-two in the Rustler Breaks asset area, one in the Wolf/Jackson Trust asset areas, and one in the Ranger/Arrowhead and Twin Lakes asset areas.

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 developments in various petroleum systems resulting in stacked target horizons in various areas. 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 shales, sandstones, limestones and dolomites. As of December 31, 2016, its total acreage position in Southeast New Mexico and West Texas was approximately 163,700 gross (94,300 net) acres, primarily in Loving County, Texas and Lea and Eddy Counties, New Mexico. These acreage totals included approximately 32,700 gross (20,400 net) acres in its Ranger asset area in Lea County, 48,000 gross (17,000 net) acres in its Arrowhead asset area in Eddy County, 25,100 gross (16,500 net) acres in its Rustler Breaks asset area in Eddy County, 13,500 gross (8,400 net) acres in its Wolf and Jackson Trust asset areas in Loving County and 42,900 gross (30,800 net) acres in its Twin Lakes asset area in Lea County as of December 31, 2016. As of January 1, 2016, it operated three drilling rigs in the Delaware Basin in Southeast New Mexico and West Texas, and it operated these drilling rigs in certain of its various asset areas in the Delaware Basin.

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. As of December 31, 2016, its properties included approximately 30,700 gross (27,800 net) acres in the Eagle Ford shale play in Atascosa, DeWitt, Gonzales, Karnes, La Salle, Wilson and Zavala Counties in South Texas.

Northwest Louisiana and East Texas

As of December 31, 2016, the Company held approximately 26,100 gross (23,300 net) acres in Northwest Louisiana and East Texas. 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 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. As of December 31, 2016, the Company had approximately 20,100 gross (12,500 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 its Elm Grove properties in Northwest Louisiana, approximately 10,000 gross (9,800 net) acres as of December 31, 2016, were held by existing production from the Cotton Valley formation or the Haynesville shale.

Company Address

Matador Resources Co

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

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