With all the record-breaking production, earnings, free cash flow gains, debt reductions, and overall giddiness spilling out of Q2, you’d almost think a parade is in order. After rhapsodizing yesterday on the remarkable return of natural gas, Reese Energy Consulting today is sharing the latest news from E&P Matador Resources. Based in Dallas, Matador operates in the Delaware, Eagle Ford, Haynesville, and Cotton Valley plays—but it’s the Delaware that’s stolen the show so far this year with 24 wells turned to sales since March. In April alone, Matador brought 13 wells online that have produced 2.3 MMBOE in just three months. The company expects to turn to sales another 24 wells by Q4. Now, for the sexy numbers. Oil and gas revenues broke an all-time record in the second quarter at $412.1 million, compared with $118.8 million in the same period last year. Earnings increased 32% from Q1 at $261 million—a 143% gain over June 2020. Oil volumes hit 8.482 MMBOE vs 2020’s 6.670 MMBOE. Finally, Matador in Q2 paid down another $100 million in debt while socking away $156.3 million in free cash flow. Bring on the floats.

What do you think? Learn more about REC and our oil and gas services at www.ReeseEnergyConsulting.com.

Matador Resources

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. Our 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. We also operate in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana.

www.matadorresources.com

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