Matador Resources Company 2021 Budget GUIDANCE $575 Million

Matador Resources Company 2021 budget GUIDANCE $575 million and reported production of 83,400 barrels of oil equivalent (BOE) per day.

Lateral Completions Dissolvable Frac Plug

Matador Resources Company 2021 Budget estimates D/C/E capital expenditures of $525 to $575 million in 2021, as compared to D/C/E capital expenditures of $450 million for full year 2020. As previously noted, these anticipated 2021 D/C/E capital expenditures are inclusive of an estimated $58 million for non-operated well opportunities, $38 million for artificial lift and other production-related capital expenditures, $18 million of capitalized general and administrative and interest expenses and an average 10% increase in drilling and completion costs in anticipation of increased service costs beginning in the second quarter of 2021.

Matador Resources Company 2021 Budget D/C/E capital expenditures also include 34 gross (31.2 net) Delaware Basin wells expected to be in progress at year-end 2021, as compared to 20 gross (19.1 net) wells in progress at year-end 2020, and these capital expenditures will not contribute to Matador’s production in 2021.

Matador Resources Company Mid-con Well Permits Download

Matador Resources Capital Expenditures

Matador Resources Company 2021 Budget, Matador estimates it will incur midstream capital expenditures of $20 to $30 million, reflecting its 51% share of San Mateo’s total 2021 estimated capital expenditures of $39 to $59 million. San Mateo’s 2021 capital expenditures are expected to primarily consist of (i) routine installation of gathering or transportation infrastructure needed to provide service for newly-drilled wells operated by Matador and other San Mateo customers, (ii) routine maintenance and improvements of existing facilities and (iii) the drilling and completion of a new produced water disposal well and the related infrastructure in Matador’s Greater Stebbins Area to handle additional produced water volumes anticipated as a result of Matador’s increased drilling and completions activity in that area in 2021. In addition, should San Mateo be awarded a significant midstream contract by a customer other than Matador during 2021, additional capital expenditures would almost certainly be required, and any necessary adjustments to San Mateo’s 2021 capital expenditures would be made at that time.

Oil & Gas News

Matador Resources Company Mid-con Well Permits & Wells Spud

The oil and gas industry is highly regulated by Government agencies. One of the responsibilities is to approve well permits. A well permit is the intent of an oil & gas operator to drill a new well. Well permits include oil wells, gas wells, water wells and more..

Spudding is the process of beginning to drill a well in the oil and gas industry. … After the surface hole is completed, the main drill bit—which performs the task of drilling to the total depth—is inserted and this process can also be referred to as “spudding in.” Data Source Matador Resources Company 2021 Budget

Matador Resources Company Mid-con Well Permits & Wells Spud

Matador Resources Company Mid-con Wells Drilled Last 2 Years Map

Permian Basin is a shale basin about 250 miles wide and 300 miles long, spanning parts of west Texas and southeastern New Mexico. It includes the highly-prolific Delaware and Midland sub-basins. Data source Matador Resources Company 2021 Budget

Matador Resources Company Mid-con Wells Drilled Last 2 Years Map

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About Matador Resources Company

Matador 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 current 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. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.