Dallas-based Matador Resources said April 28 in the first 4 months of 2021 it brought 19 operated horizontal wells online with drilling and completion costs averaging $657 per completed lateral foot. Production in 2021Q1 of 74,000 boed (56 percent oil) was down 11 percent from 2020Q1. Matador brought online its first four high-impact wells in March in Antelope Ridge of Lea County, N.M., and it also noted “strong initial well performance” from 4 new Rodney Robinson wells turned to sales in March, including the first 2 Third Bone Spring completions and 2 Wolfcamp A-XY wells. They averaged initial 24-hour rates of 4,260 boed (78 percent oil).
In the Stateline area, Matador turned to sales ahead of schedule all 13 Voni wells at lateral lengths of about 12,000 feet each with “strong 24-hour IP test results” from the first 6 wells. A completion in Wolfcamp set a Matador record for best overall 24-hour IP test result for any formation in Delaware Basin at 5,073 boed. Q2 production is expected to be up 20 percent.