In its third quarter operations report, Dallas-based Matador Resources said it increased production and spending in 3Q, decreased 2025 completion cost per lateral foot, and raised 2025 production guidance. Matador reported record production of 209,184 boed for the quarter (119,556 b/d oil), which exceeded midpoint of guidance of 199,750 boed by 5 percent. And it was a gain of 22 percent from 2024Q3. Matador’s record quarterly natural gas production was 537.8 million cfd.
The company with more than 200,000 net acres in Delaware Basin said drilling and completion costs of about $855 per completed lateral foot in 3Q was 3 percent less than midpoint of guidance from July of $880.
Matador increased 2025 production guidance to a range of 205,500-to-206,500 boed from 200,000-to-205,000 boed. Matador increased the number of operated wells to be drilled and turned to sales in 2025 to 118.3 from 106.3. And 2025 capital expenses are now estimated at $1.47 billion to $1.55 billion (previous guidance was $1.18 billion to $1.37 billion). Joseph Wm. Foran, chairman and CEO, said in 2026 Matador will use greater efficiencies realized in 3Q to increase oil production 2-to-5 percent and cut capital expenses by 8-to-12 percent.
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