Dallas-based Matador Resources said last week it sold its two remaining acreage and production positions in Eagle Ford Shale in south Texas to focus on developing its acreage in northern Delaware Basin in west Texas. Matador said April 4 the sale is part of “precautionary actions” it has taken to help “fortify” its balance sheet and prepare for “turbulent times.” Joseph Wm. Foran, chairman and CEO, said the sale of non-core assets in Atascosa, Karnes and La Salle counties over the past two quarters netted more than $30 million.
At yearend 2024 Matador held 2,900 net acres in Eagle Ford with production of 700 boed (76 percent oil). The company owns about 200,000 net acres in Delaware Basin – 80 percent held by production.
Foran said Matador has “structured its rig contracts with optionality to quickly decrease or increase its drilling program based upon market conditions.” Matador has secured inventory for the majority of its 2025 drilling program, but tariffs could impact well costs in second half 2025. Foran added, “Matador remains optimistic about its plans and drilling inventory for the remainder of 2025 and beyond.”
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