When there’s good news to share from oil and gas independents that not only continue to weather the perfect crap-storm of 2020 but manage to outwit it, there’s cause for applause. Such is the case of Dallas-based Matador Resources, an upstream-midstream operator formed in 2003 with an initial $6 million equity investment and an end-of-October market cap of $830 million. Reese Energy Consulting today is following the latest buzz from Matador, which recently announced its 3Q earnings and operating results along with raising its full-year 2020 guidance. In short, Matador expects record production of oil and natural gas, as well as record midstream revenues in 4Q, as part of five goals the company set out to accomplish the first of the year and looks certain to achieve. Along with turning to production 29 wells primarily in the Permian, Matador’s San Mateo midstream subsidiary completed an expansion and startup in September of its Black River natural gas processing facility in Eddy County, N.M., for a total capacity of 460 MMCFD, along with 43 miles of pipe.
Matador Resources Company 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. 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.