Dallas-based Matador Resources and midstream affiliate San Mateo said Tuesday they expect “Matador’s oil, natural gas and total production and San Mateo’s revenues to reach record levels” in 2020Q4 as a result of recent operations. Matador completed and turned to sales the first 6 Rodney Robinson wells in Antelope Ridge and the first 5 Ray wells in Rustler Breaks – all two-mile laterals. “These wells have all continued to perform above expectations,” Joseph Wm. Foran, CEO and chairman, said. Rodney Robinson wells have produced about 2.1 million boe in six months, and the Ray wells have produced about 1.2 million boe in about five months.
Also, Matador completed and turned to sales the first 13 Boros wells in Stateline asset area in Eddy County with “better-than-anticipated results and lower-than-estimated capital expenditures.” And San Mateo completed and placed into service an expansion of Black River processing plant and 43 miles of natural gas and oil pipelines in Eddy County. Matador operated 3 drilling rigs in 2020Q3, and Foran said, “We continued to achieve record low unit operating expenses and drilling and completion costs per lateral foot.”