Dallas-based Matador Resources said Sept. 22 the results of the first four of its 13 Boros wells completed and turned to sales in its Stateline area in Eddy County include the Boros #215H with “the best IP test result that Matador has achieved for Wolfcamp A-lower formation and among the very highest IP test results that Matador has achieved for any formation in Delaware Basin.” Matador expects to have all remaining Boros wells online by early October with at least another 75 wells to drill in Stateline.
Matador said costs to drill and complete 13 Boros wells in Stateline area averaged under $800 per completed lateral foot – “saving more than 20 percent in costs compared to Matador’s original estimates.” Joseph Wm. Foran, chairman and CEO, said, “We are expecting a significant increase in our oil and natural gas production during 2020Q4 and are also on track to be free cash flow in the fourth quarter, a major milestone.”