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Investor Presentaiton

Wells Completed and Turned to Sales - 2020 Updated Guidance (1) During full year 2020, Matador expects to complete and turn to sales 93 gross (47.9 net) wells. Matador expects the Delaware Basin to account for 89 gross (47.9 net) wells, including 53 gross (45.7 net) operated and 36 gross (2.2 net) non-operated wells. ■ In 2020, Matador expects to continue transitioning its operations to longer laterals greater than one mile. - - 83% of Matador's gross operated horizontal wells completed and turned to sales in 2020 are expected to have lateral lengths greater than one mile, as compared to 29% in 2019 and 9% in 2018 · 74% of Matador's gross operated horizontal wells completed and turned to sales in 2020 are expected to have lateral lengths of two miles, as compared to 8% in 2019 and 1% in 2018 · Matador estimates its average lateral length for operated wells turned to sales in 2020 should be approximately 8,800 feet Non-Operated Total Gross Operated Well Completion Intervals Operated Asset/Operating Area Gross Net Gross Net Gross Net Antelope Ridge 6 5.4 15 0.3 21 5.7 1-1BS, 2-2BS, 1-3BS, 1-WC A-XY, 1-WC B Western Antelope Ridge 6 6.0 6 6.0 2-AV, 2-2BS, 2-WC A-XY (Rodney Robinson) Arrowhead 5 4.3 5 4.3 2-3BS, 2-WC A-XY, 1-WC B Ranger Rustler Breaks 13 7.8 21 1.9 34 9.7 No Ranger completions in 2020 1-1BS, 1-2BS, 1-3BS, 5-WC A-XY, 2-WC A-Lower, 3- WC B Stateline 13 13.0 13 13.0 1-AV, 2-2BS, 4-WC A-XY, 4-WC A-Lower, 2-WC B Twin Lakes No Twin Lakes completions in 2020 Wolf/Jackson Trust 10 9.2 10 9.2 3-2BS, 1-3BS-Carb, 5-WC A-XY, 1-WC A-Lower Delaware Basin 53 45.7 36 2.2 89 47.9 Eagle Ford Shale Haynesville Shale Total 4 0.0 4 0.0 53 45.7 40 2.2 93 47.9 Note: WC = Wolfcamp; BS = Bone Spring; BS-Carb = Bone Spring Carbonate; AV = Avalon. For example, 1-3BS-Carb indicates one Third Bone Spring Carbonate completion and 2-AV indicates two Avalon completions. Any "0.0" values in the table above suggest a net working interest of less than 5%, which does not round to 0.1. (1) As of and as provided on October 27, 2020. Matador 34 RESOURCES COMPANY
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