Last €19.48 EUR
Change Today -0.045 / -0.23%
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matador resources co (7MR) Snapshot

Open
€19.47
Previous Close
€19.52
Day High
€19.48
Day Low
€19.47
52 Week High
07/1/14 - €21.33
52 Week Low
12/9/14 - €11.55
Market Cap
1.4B
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
73.4M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for MATADOR RESOURCES CO (7MR)

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matador resources co (7MR) Details

Matador Resources Company, an independent energy company, acquires, explores, develops, and produces oil and natural gas resources in the United States. It primarily holds interests in the Eagle Ford shale play in South Texas; and the Wolfcamp and Bone Spring plays in the Permian Basin in Southeast New Mexico and West Texas. The company also has interests in the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas; and the Meade Peak shale play in Southwest Wyoming and the adjacent areas of Utah and Idaho. As of December 31, 2013, its estimated total proved oil and natural gas reserves were 51.7 million barrels of oil equivalent, including 16.4 million one stock tank barrels of oil and 212.2 billion cubic feet of natural gas. The company was formerly known as Matador Holdco, Inc. and changed its name to Matador Resources Company in August 2011. Matador Resources Company was founded in 2003 and is headquartered in Dallas, Texas.

66 Employees
Last Reported Date: 03/17/14
Founded in 2003

matador resources co (7MR) Top Compensated Officers

Founder, Chairman of The Board, Chief Executi...
Total Annual Compensation: $600.0K
President
Total Annual Compensation: $330.0K
Chief Operating Officer, Chief Financial Offi...
Total Annual Compensation: $375.0K
Executive Director of Exploration
Total Annual Compensation: $415.6K
Vice President and General Manager
Total Annual Compensation: $260.0K
Compensation as of Fiscal Year 2013.

matador resources co (7MR) Key Developments

Harvey E. Yates Company, Matador Resources Company - M&A Call

To acquire Harvey E. Yates Company including certain oil and natural gas producing properties and undeveloped acreage located in Lea and Eddy Counties, New Mexico by Matador Resources Company

Matador Resources Company Enters into a Definitive Agreement to Acquire Harvey E. Yates Company

Matador Resources Company announced it has entered into a definitive agreement to acquire Harvey E. Yates Company including certain oil and natural gas producing properties and undeveloped acreage located in Lea and Eddy Counties, New Mexico. HEYCO, headquartered in Roswell, New Mexico, is privately owned by members of the Yates family of Southeastern New Mexico, who have been active in the upstream oil and natural gas business in this area since the inception of production in the Delaware Basin in the 1920s. As consideration for the acquisition, Matador will pay approximately $37.4 million in cash (including assumed debt obligations), issue 3,140,960 shares of Matador Common Stock and issue 150,000 shares of a new series of Matador Convertible Preferred Stock to HEYCO Energy Group Inc. subject to customary purchase price adjustments, including adjusting for production, revenues and operating and capital expenditures from September 1, 2014 to closing. Key attributes of the acquired properties include the following: Approximately 58,600 gross (18,200 net) acres located in Lea and Eddy Counties, New Mexico, strategically located between Matador’s existing acreage in its Ranger and Rustler Breaks prospect areas; Approximately one-third of the acreage is operated, one-third is non-operated, and operations on the remaining one-third will be pursued by Matador under various operating, farm-in and other agreements; Over 95% of the acquired acreage position consists of state and federal leases, most with favorable net revenue interests greater than 80% and some as high as 87.5%; Essentially all of the acreage is held by production from existing wells and production units; The two most recent Second Bone Spring wells drilled horizontally and completed on this acreage - the CTA State Com #4H and #3H wells operated by COG Operating LLC, a subsidiary of Concho Resources Inc. - averaged 1,063 barrels of oil equivalent per day (78% oil) and 992 BOE per day (84% oil), respectively, during their first 30 days of production. HEYCO owns a 14.3% working interest (11.4% net revenue interest) in both wells; Average net daily production during the fourth quarter of 2014 of approximately 530 BOE per day (approximately 70% oil), including average net daily production from the CTA State Com #3H and #4H wells; Net proved developed producing (“PDP”) oil and natural gas reserves of approximately 1.3 million BOE (approximately 60% oil) as of September 1, 2014, based on an independent reserves analysis prepared by Netherland, Sewell & Associates Inc., excluding any contributions from the CTA State Com #3H and #4H wells. In addition, no proved developed non-producing nor proved undeveloped reserves have been assigned to these properties. For purposes of this transaction, the PDP reserves were valued at $27.9 million. Matador will assume operatorship of all operated properties upon closing of the transaction, which the parties expect to occur on or before February 27, 2015.

Matador Resources Company provides Production guidance for the Fourth Quarter and Full Year Ended November 30, 2014

Matador Resources Company provided production guidance for the fourth quarter and full year ended November 30, 2014. For the quarter, the company continues to achieve strong growth in both oil and natural gas production. The company's total oil equivalent production has averaged approximately 21,000 barrels of oil equivalent, or BOE, per day, representing an increase of just over 30% thus far in the fourth quarter, as compared to 16,096 BOE per day reported in the third quarter of 2014, and up 75% as compared to 11,968 BOE per day reported in the fourth quarter of 2013. The company currently expects to produce in excess of 1,000,000 barrels of oil in the fourth quarter of 2014, resulting in sequential quarterly oil production growth of 20% or more, as compared to oil production of 839,000 barrels in the third quarter of 2014 and year-over-year oil production growth of 65% or more, as compared to oil production of 608,000 barrels in the fourth quarter of 2013. The company currently expects to produce about 5.4 billion cubic feet of natural gas in the fourth quarter of 2014, resulting in sequential quarterly natural gas production growth of approximately 40%, as compared to natural gas production of 3.8 billion cubic feet in the third quarter of 2014 and year-over-year natural gas production growth of about 83%, as compared to natural gas production of approximately 3.0 billion cubic feet in the fourth quarter of 2013. The company anticipates that it will exceed the high end of its guidance range for oil production of 3.2 to 3.3 million barrels for 2014, resulting in oil production growth this year of approximately 55% or more, as compared to oil production of 2.1 million barrels in 2013. Matador attributes this better-than-expected oil production in 2014 to the continued strong execution of its development drilling program in the Eagle Ford shale, as well as to better-than-expected results from its initial wells in the Permian Basin. The company anticipates that its 2014 natural gas production will end the year at about 15.3 billion cubic feet, or just below the low end of its guidance range for natural gas production of 16.0 to 17.5 billion cubic feet, primarily due to the fact that Chesapeake Energy Company (Chesapeake), the operator, will complete and begin producing an expected eight gross (1.9 net) Haynesville wells on the Company’s Elm Grove properties in Northwest Louisiana in mid-to-late December, rather than earlier in the fourth quarter as originally planned.

 

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7MR

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Valuation 7MR Industry Range
Price/Earnings 20.5x
Price/Sales 4.6x
Price/Book 2.1x
Price/Cash Flow 9.2x
TEV/Sales 4.4x
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