Dallas-based Matador Resources said April 26 it averaged monthly production of more than 100,000 boed in March for the first time in the company’s history. And Matador said it expects to continue to average above 100,000 boed for the remainder of 2022. In February in Lea County, N.M., Matador turned to sales 11 new Voni wells in its Stateline asset area, and in March Matador turned to sales 9 Rodney Robinson wells in the Antelope Ridge asset area. Matador turned 38 wells to sales in 2022Q1 – all with laterals of at least two miles. The company’s Q1 output of 93,969 boed (57 percent oil) topped guidance by 2 percent.
With its 6 drilling rigs, Matador expects to turn to sales 80 gross operated horizontal wells in 2022 in the Delaware Basin – 90 percent with laterals of at least 2 miles. They include new wells in Rustler Breaks, Antelope Ridge and Ranger asset areas. Capex of $690 million to $770 million is expected in 2022 ($544 million in 2021 with production of 31.5 million boe).
Production in 2021Q4 was 87,300 boed, and by yearend proved reserves grew 20 percent in 2021 to 323.4 million boe and 56 percent in proved developed reserves to 193.3 million boe over 2020.