Matador provides Permian, Eagle Ford operations update

Matador Resources Co., Dallas, has provided an update for its operations in the Permian and Eagle Ford basins.

The Dorothy White 1H horizontal well in Loving County, Tex., flowed 1,355 boe/d, including 902 b/d of oil and 2.7 MMcfd of natural gas (67% oil) at 3,711 psi on a 22/64-in. choke during a 24-hr initial potential test.

The well is completed in the Wolfcamp A, top portion of the Wolfcamp formation, at 10,700 ft vertical depth, which is a highly geopressured interval having an estimated bottomhole pressure gradient of 0.8 psi/ft, implying a reservoir pressure of 8,500 psi.

Matador drilled and completed a 5,000-ft horizontal lateral in the Wolfcamp A and completed the well with 20 frac stages including 200,000 bbl of fluid.

The Dorothy White 1H well has not yet been on production for a full 30 days, but during the past 3 weeks, the well flowed at an average of 1,043 boe/d, including 693 b/d and 2.1 MMcfd of gas 3,600 psi, mostly on smaller chokes of 18/64-20/64-in.

The Ranger 33 State Com 1H well in Lea County, NM, is a 4,300-ft horizontal lateral drilled and completed in the Second Bone Spring sand with 18 frac stages, including 165,000 bbl.

The well was placed on production at the end of October and produced a total of 15,000 bbl of oil in December despite being shut in for several days while tubing and gas lift valves were installed.

In January, the well produced 15,400 bbl of oil despite being shut in for 2 days due to weather. During January, the well averaged 583 boe/d, including 531 b/d of oil and 313 Mcfd of gas (91% oil).

In only about 3 months on production, including its initial cleanup phase, the well has already produced more than 48,000 boe, including 44,000 bbl of oil, and continues to flow with gas lift assist. These early results from the Ranger 33 State Com 1H and the Dorothy White 1H have exceeded the Company’s initial expectations for both wells.

Matador has recently completed drilling the Rustler Breaks 12-24-27 1H well, its first horizontal well in Eddy County, Tex. This well is a 4,500-ft horizontal lateral testing the Wolfcamp B formation at 9,800 ft vertical depth.

Matador is currently completing this well with a 19-stage hydraulic fracture treatment, including 180,000 bbl of fluid. The Wolfcamp B is also an over-pressured reservoir like the Wolfcamp A in the Dorothy White 1H well and exhibited encouraging hydrocarbon shows while drilling.

Upon completion of a 30-day production test, Matador expects to report the results of this well. Matador is currently drilling the Pickard 20-18-34 2H well, which is planned to be a Wolfcamp D test in the northern portion of its Ranger/Querecho Plains prospect area in Lea County, NM. Matador plans to drill 12 gross (9.8 net) wells across its various acreage positions in the Permian basin this year.

Matador began the year with 70,800 gross (44,800 net) acres in the Permian basin in southeast New Mexico and West Texas. During 2014, the company has acquired 2,800 gross (1,600 net) additional acres in its various prospect areas in Lea and Eddy Counties, NM.

Including these acreage acquisitions, Matador’s total Permian basin acreage position in southeast New Mexico and West Texas is 73,600 gross (46,400 net) acres.

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