Investor Presentaiton
Improved Capital Efficiency Translating to Better Wells for Less Money
Delaware Estimated Ultimate Recovery per Foot
(BOE/ft) "Better Wells"
175
+10 BOE/ft on 2-mile well
Delaware Drilling and Completion (D&C) CapEx per Foot (1)
($/ft) "Less Money"
$1,750
Average EUR/foot, BOE/ft
170
165
160
155
100,000 BOE Increase
+6%
Average D&C CapEx/foot, $/ft(2)
$1,500
$1,250
$1,000
$750
-44%
150
2018
2019
2020
Year Turned to Sales
Delaware Drilling and Completion (D&C) CapEx per BOE
($/BOE)
"Better Wells for Less Money"
$11.00
$10.00
$9.00
Average D&C CapEx/BOE, $/BOE
$8.00
-46%
$7.00
$6.00
$5.00
$4.00
2018
2019
2020
Year Turned to Sales
$500
2018
$860
172
$5.10
1,100
2019
Year Turned to Sales
2020E
D&C costs for operated horizontal wells
turned to sales in 2020 expected to be $860
per completed lateral foot, down 44% from
full year 2018
Average Estimated Ultimate Recovery for
operated horizontal wells turned to sales
through Q3 2020 of 172 BOE per completed
lateral foot, up 6% from full year 2018
D&C CapEx per BOE for operated horizontal
wells turned to sales through Q3 2020 of
$5.10 per completed lateral foot, down 46%
from full year 2018
Matador has identified over 1,100 gross
A+ locations for future drilling on its
Delaware Basin acreage (3)(4)
Note: All footage and percentage of lateral types shown are based on gross operated horizontal wells.
(1) As of and as updated on October 27, 2020.
(2) Cost per foot metric shown represents the drilling and completion (D&C) portion of well costs only. Excludes costs to equip wells, midstream capital expenditures, capitalized G&A or interest expenses and
certain other capital expenditures.
(3) A+ engineered locations for future drilling and completion, including specified production units, costs and well spacing using objective criteria for designation. Locations identified as of June 30, 2020.
(4) A+ engineered locations are future drilling locations with projected minimum 15% rate of return at $40 WTI oil and $1.75/Mcf natural gas pricing.
Matador 12
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