ROHSTOFF INTERNATIONAL

12:00 | 14.06.2018
Matador Resources Company Announces Execution of Salt Water Gathering and Disposal Agreement by San Mateo Midstream, LLC

Matador Resources Company (“Matador” or the “Company”) today announced
that a wholly-owned subsidiary of its midstream joint venture, San Mateo
Midstream, LLC (“San Mateo”), has entered into a long-term agreement
with a significant producer in Eddy County, New Mexico relating to the
gathering and disposal of such producer’s salt water. The agreement
includes the dedication of over 65 wells, which are located within five
miles of San Mateo’s existing salt water gathering system in Eddy
County, New Mexico.

In addition, San Mateo has started drilling its fourth commercial salt
water disposal well in Eddy County, New Mexico and expects to begin
drilling a fifth commercial salt water disposal well in Eddy County, New
Mexico later in the second quarter or early in the third quarter of
2018. Upon completion of these additional salt water disposal wells, San
Mateo expects to have total salt water disposal capacity in excess of
230,000 barrels per day in Eddy County, New Mexico and Loving County,
Texas. San Mateo expects to dispose of over 200,000 barrels per day of
salt water as early as the first quarter of 2019, which includes
expected volumes from the agreement announced above as well as expected
volumes from San Mateo’s other contracted producers in Eddy County, New
Mexico and Loving County, Texas.

Joseph Wm. Foran, Matador’s Chairman and CEO, commented, “Our midstream
team, San Mateo, continues to drive value for Matador’s shareholders.
Earlier this year, the midstream team completed the expansion of its
Black River Processing Plant on time and on budget and entered into a
strategic relationship with a subsidiary of Plains All American
Pipeline, L.P. relating to the transportation of oil. This new agreement
further diversifies San Mateo’s customer base and the additional
expansion of its salt water disposal capacity will continue to allow San
Mateo to generate value across all three production streams—oil, natural
gas and salt water—for producers in Eddy County, New Mexico and Loving
County, Texas. The Board and I congratulate the midstream team, and we
look forward to continuing to work together with our joint venture
partner, Five Point Energy LLC, in establishing San Mateo as a premier
midstream company in the northern Delaware Basin.”
About Matador Resources Company
Matador is an independent energy company engaged in the exploration,
development, production and acquisition of oil and natural gas resources
in the United States, with an emphasis on oil and natural gas shale and
other unconventional plays. Its current operations are focused primarily
on the oil and liquids-rich portion of the Wolfcamp and Bone Spring
plays in the Delaware Basin in Southeast New Mexico and West Texas.
Matador also operates in the Eagle Ford shale play in South Texas and
the Haynesville shale and Cotton Valley plays in Northwest
Louisiana and East Texas. Additionally, Matador conducts midstream
operations, primarily through its midstream joint venture, San Mateo, in
support of its exploration, development and production operations and
provides natural gas processing, oil transportation services, natural
gas, oil and salt water gathering services and salt water disposal
services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.
About San Mateo Midstream, LLC
San Mateo Midstream, LLC is a strategic joint venture formed in February
2017 by a subsidiary of Matador Resources Company (NYSE: MTDR) and a
subsidiary of Five Point Energy LLC. San Mateo provides an all-inclusive
approach to midstream services for the three main product streams
produced by oil and natural gas activities, including salt water
gathering and disposal services, natural gas gathering, compression,
treating and processing services, and oil gathering, transportation and
blending services. San Mateo owns and operates oil, natural gas and
water gathering and transportation systems in Eddy County, New Mexico
and Loving County, Texas, the Black River Processing Plant in Eddy
County, New Mexico with a designed inlet capacity of 260 million cubic
feet of natural gas per day and six commercial salt water disposal wells
in Eddy County, New Mexico and Loving County, Texas. San Mateo serves as
one of the primary midstream solutions for multiple customers across the
northern Delaware Basin, including its anchor customer, Matador
Resources Company.

For more information, visit San Mateo Midstream, LLC at www.sanmateomidstream.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
“Forward-looking statements” are statements related to future, not past,
events. Forward-looking statements are based on current expectations and
include any statement that does not directly relate to a current or
historical fact. In this context, forward-looking statements often
address expected future business and financial performance, and often
contain words such as “could,” “believe,” “would,” “anticipate,”
“intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,”
“predict,” “potential,” “project,” “hypothetical,” “forecasted” and
similar expressions that are intended to identify forward-looking
statements, although not all forward-looking statements contain such
identifying words. Such forward-looking statements include, but are not
limited to, statements about guidance, projected or forecasted financial
and operating results, results in certain basins, objectives, project
timing, expectations and intentions and other statements that are not
historical facts. Actual results and future events could differ
materially from those anticipated in such statements, and such
forward-looking statements may not prove to be accurate. These
forward-looking statements involve certain risks and uncertainties,
including, but not limited to, the following risks related to financial
and operational performance: general economic conditions; the Company’s
ability to execute its business plan, including whether its drilling
program is successful; changes in oil, natural gas and natural gas
liquids prices and the demand for oil, natural gas and natural gas
liquids; its ability to replace reserves and efficiently develop current
reserves; costs of operations; delays and other difficulties related to
producing oil, natural gas and natural gas liquids; delays and other
difficulties related to regulatory and governmental approvals and
restrictions; its ability to make acquisitions on economically
acceptable terms; its ability to integrate acquisitions; availability of
sufficient capital to execute its business plan, including from future
cash flows, increases in its borrowing base and otherwise; weather and
environmental conditions; the operating results of the Company’s
midstream joint venture’s expansion of the Black River cryogenic
processing plant; the timing and operating results of the buildout by
the Company’s midstream joint venture of oil, natural gas and water
gathering and transportation systems and the drilling of any additional
salt water disposal wells; and other important factors which could cause
actual results to differ materially from those anticipated or implied in
the forward-looking statements. For further discussions of risks and
uncertainties, you should refer to Matador’s filings with the Securities
and Exchange Commission (“SEC”), including the “Risk Factors” section of
Matador’s most recent Annual Report on Form 10-K and any subsequent
Quarterly Reports on Form 10-Q. Matador undertakes no obligation to
update these forward-looking statements to reflect events or
circumstances occurring after the date of this press release, except as
required by law, including the securities laws of the United States and
the rules and regulations of the SEC. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date of this press release. All forward-looking statements are
qualified in their entirety by this cautionary statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180614005275/en/


NEWSLETTER

Abonnieren Sie jetzt unseren
aktuellen Newsletter

WIRTSCHAFTSNACHRICHTEN

22:51 Uhr | 15.08.2018
GESAMT-ROUNDUP 3: Türkei ...


22:37 Uhr | 15.08.2018
USA bleiben im Konflikt mit der ...


22:18 Uhr | 15.08.2018
Aktien New York Schluss: Trumps ...


21:51 Uhr | 15.08.2018
Finanzinvestor Cevian will bei ...


21:35 Uhr | 15.08.2018
dpa-AFX Überblick: Ausgewählte ...