Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) announced today that Joseph Wm. Foran, Chairman, President and Chief Executive Officer, presented at the 2012 IPAA OGIS New York Conference on Wednesday, April 18, 2012. Highlights of Mr. Foran’s presentation included the following:
- First quarter 2012 oil production of approximately 200,000 barrels
- From April 1, 2012 through April 10, 2012, oil production in excess of 4,000 bbls per day
- Oil production expected to increase nearly ten-fold in 2012
- 94% of 2012 capital budget being directed to opportunities prospective for oil and liquids
- Affirmed guidance metrics previously announced on March 7, 2012 including (1) estimated capital spending of $313 million, (2) estimated total oil production of 1.4 to 1.5 million barrels, (3) estimated exit rate for oil production of 5,000 to 5,500 barrels per day and (4) estimated total natural gas production of 12.5 to 13.5 billion cubic feet.
About Matador Resources CompanyMatador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with a particular emphasis on oil and natural gas shale plays and other unconventional resource plays. Its current operations are located primarily in the Eagle Ford shale play in south Texas and the Haynesville shale play in northwest Louisiana and east Texas. For more information visit Matador Resources Company on the Internet at www.matadorresources.com.