12:01 | 14.06.2018
San Mateo Midstream, LLC Announces Execution of Salt Water Gathering and Disposal Agreement

San Mateo Midstream, LLC (“San Mateo”) today announced that its
wholly-owned subsidiary, Black River Water Management Company, LLC
(“Black River”), has entered into a long-term agreement with a
wholly-owned subsidiary of Marathon Oil Corporation (“Marathon Oil”) in
Eddy County, New Mexico relating to the gathering and disposal of
Marathon Oil’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.

Matt Spicer, Vice President and General Manager of San Mateo, said, “We
are pleased to announce that we have entered into this significant
contract with Marathon Oil for salt water gathering and disposal in Eddy
County, New Mexico. This contract, and others we have entered into in
late 2017 and early 2018, have diversified San Mateo’s customer base as
we continue to provide first class midstream services to our anchor
customer, Matador Resources Company, and to other producers in the area.
We pride ourselves on generating value for our customers by providing
services across all three production streams—oil, natural gas and salt
water—and look forward to continuing to be a full-service midstream
solution for producers in the northern Delaware Basin.”

Please direct any commercial inquiries about San Mateo’s salt water
gathering and disposal services provided in Eddy County, New Mexico or
Loving County, Texas or San Mateo’s other services, including natural
gas gathering and processing services and oil gathering, transportation
and blending services, to:

Corey Lothamer, Vice President of Business Development, at (972)
371-5203 or
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
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; San Mateo’s
ability to execute its business plan; the timing and operating results
of the buildout of San Mateo’s oil, natural gas and water transportation
and gathering systems and other facilities, changes in oil, natural gas
and natural gas liquids prices and the demand for oil, natural gas and
natural gas liquids; the occurrence and timing of actions, including
decisions and the issuance of regulations and permits, by state and
federal regulatory authorities; costs of operations; availability of
sufficient capital to execute its business plan; weather and
environmental conditions; and other important factors which could cause
actual results to differ materially from those anticipated or implied in
the forward-looking statements. San Mateo 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. 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.

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