Matador estimates approximately $318 million or 72% of its $440 million 2014 capital budget will be directed to the Eagle Ford Shale in South Texas.
Development of the company assets in the formation is expected to be the primary focus this year.
Matador Drilling and Operating Plans for 2014
The company anticipates completing 49 gross (46.0 net) Eagle Ford wells and has plans to turn 43 gross (40 net) wells to sales in 2014.
The company also plans one exploration well testing the Buda formation.
Matador plans to operate two contracted drilling rigs in the Eagle Ford in 2014.
Matador Acreage Asset Acquisition in Eagle Ford in 2013
Matador expanded in the Eagle Ford in 2013 through the acquisition of 1,720 gross (1,660 net) acres.
Pad & Batch Drilling in the Eagle Ford
In 2013, the company yielded strong production numbers, despite having up to 20% of its production capacity shut in during the fourth quarter of 2013. Matador stopped production on some of its Eagle Ford wells to frack off-setting wells.
The practice referred to as "pad and batch drilling" has been used widely by Matador in the Eagle Ford.
Matador in the Eagle Ford at a Glance for 2014
- $318 million slated for development in the play
- 43 gross (40 net) wells turned into sales
- 1,660 net acres acquired in Eagle Ford in 2013
- Pad and batch drilling being utilized across the play
Read more: Matador.com