Matador's Eagle Ford Production Breaks Record in Q2 2014

Matador Eagle Ford Acreage
Matador Eagle Ford Acreage

Dallas, Texas-based Matador Resources hit record production levels portfolio-wide in the second-quarter of 2014, thanks mostly to its Eagle Ford Shale production. The company recorded a 30% quarter-on-quarter production increase to 15,424 boe/d, and a 46% increase year-over-year.

During the quarter, approximately 54% of the company’s natural gas production was liquids-rich natural gas, primarily from the Eagle Ford Shale. That's  a jump compared to the year ago quarter when Matador's liquids-rich natural gas cut for its natural gas production was around 33%.

Matador's Permian Assets Help Boost Company Production

Matador's most significant oil producing assets are in the Eagle Ford Shale, but the company is also active in the Permian Basin, in West Texas and Southeastern New Mexico. During the quarter, the oil-rich Permian helped Matador achieve record oil production, representing an increase of 21% quarter-on-quarter to ~8,900 b/d.

Read more: Matador Resources Oil Production Up 76% Company-Wide Due to Eagle Ford

These record production results are directly attributable not only to the continued execution of our Eagle Ford development program but also to the positive, better-than-expected results from our initial wells in thePermian Basin. Notably, these results were achieved despite having as much as 10 to 15% of our total production capacity shut in or restricted at various times during the second quarter while offsetting wells were drilled and completed and pipeline connections were being made.
— Matador's CEO, Joseph Foran

Matador Eagle Ford Position Growing Larger in 2014

Since the beginning of the year, Matador has acquired approximately 3,100 gross (2,900 net) acres in South Texas prospective for the Eagle Ford Shale in La Salle, Karnes and southern Atascosa Counties. According to company officials, the acreage has the potential to add up to 75 additional gross drilling locations to the company's South Texas development program.

Matador Eagle Ford Q2 2014 Operations Update

Matador had two drilling rigs operating in South Texas during the second quarter of 2014. During the quarter, the company completed and began producing from nine gross (6.2 net) Eagle Ford wells, including six gross (5.4 net) operated and three gross (0.8 net) non-operated Eagle Ford wells. Matador completed three operated Eagle Ford wells on its Northcut lease and two wells on its Martin Ranch lease in La Salle County and one well on its Lyssy lease in southern Wilson County. The three non-operated wells were completed on its Troutt lease in La Salle County.

As of August 6, 2014, Matador had two drilling rigs operating in the Eagle Ford. One of the rigs is on the company's Lyssy lease in southernWilson County and one is on its Pawelek lease in Karnes County.