Matador Resources Company Closes Ridge Runner Acquisition and Provides Updated Woodford Production and Activity Details
Matador closed its Ridge Runner Acquisition, adding approximately 13,600 net acres mostly of undeveloped Woodford acreage and bringing its total Woodford position to roughly 50,000 net acres at an average cost of $4,000 per acre. The acreage adds over 150 net operated Woodford locations at about $1.3 million per location, and the Rae's Creek well has averaged over 1,000 barrels of oil per day in its first 100 days, tracking to beat its 800,000-barrel EUR.
Key figures
- Avg cost per acre
- $4,000 per acre
- Cost per net location
- $1.3 million
- Wells planned by 2027
- up to 15
- Raes creek initial eur
- 800,000 barrels of oil
- Total woodford net acres
- approximately 50,000
- Well cost savings target
- 30-40%
- Acres acquired ridge runner
- 13600
- Net operated woodford locations
- over 150
- Raes creek cumulative production
- over 100,000 barrels of oil
- Raes creek 100 day avg production
- over 1,000 barrels of oil per day
- Delaware basin inventory extension
- over 15 years
- Expected debt repayment by year end
- $350-$400 million
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.