Matador anticipates its average daily oil equivalent production of 149,760 BOE per day in the first quarter of 2024 to grow by 5% to a midpoint of approximately 157,250 BOE per day in the second quarter of 2024. Matador is currently operating eight drilling rigs in the Delaware Basin. At April 23, 2024, Matador expects D/C/E capital expenditures for the second quarter of 2024 will be approximately $330 to $350 million, which is a 3% decrease as compared to $351 million for the first quarter of 2024. Matador estimates its proportionate share of midstream capital expenditures to be approximately $50 to $70 million in the second quarter of 2024, which is a 24% decrease as compared to $79 million in the first quarter of 2024, primarily due to the timing of Matador’s 2024 midstream projects and related efficiency gains.
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