Dallas-based Matador Resources this week reported record production during second quarter of more than 130,000 boed. It was 3 percent above expectation of 126,500 boed and 23 percent better than first quarter production of 106,654 boed. Matador attributed the record production to the performance of its Rodney Robinson leasehold wells in Lea County, N.M., in Permian Basin, including eight new wells turned to sales in 2023Q1, and also better than expected production from Advance Energy Partners Holdings assets (acquisition closed in April) and higher than expected natural gas production from non-operated assets in Haynesville shale in Louisiana.
Joseph Wm. Foran, chairman and CEO, said Tuesday, “Our results for the second quarter of 2023 were above our expectations both operationally and financially… We also had lower than expected drilling, completing and equipping capital expenditures of approximately $310 million, which was 14 percent better than our previous budgeted expectation of $358 million.” Matador expects 4Q production of 140,000 boed after 2Q production of 130,683 boed.
Matador is celebrating its 40th year in 2023.