Dallas-based Matador Resources said last week that production in the third quarter was up 28 percent over the same period last year after it brought online 21 DUC wells acquired from Advance Energy Partners Holdings in April. Matador’s Margarita development in the Ranger area of Lea County, N.M., in five intervals in Delaware Basin helped push Q3 production to a company record of 135,096 boed (57 percent oil). Initial 24-hour rates averaged 1,600 boed (84 percent oil).
Billy E. Goodwin, president-operations, said Nov. 13, “We are encouraged by the initial results from the first set of 21 Margarita wells, which were as good or better than our expectations. We are particularly pleased with the results from the wells that were drilled in the third Bone Spring carbonate interval.”
Matador said estimated production for 4Q is 145,000 boed. “We are excited to continue drilling and completing wells on the Advance properties,” Goodwin added, “including another batch of 21 wells expected to be turned to sales during the first half of 2024.” Matador’s current operations are focused in Delaware Basin with other assets in Eagle Ford and Haynesville.