Matador sees Q3 average daily production 129.5K-131.5K BOE per day

Matador began 2023 operating seven drilling rigs in the Delaware Basin. Following the closing of the Advance acquisition on April 12, 2023, Matador continued operating the drilling rig that Advance had been operating. Near the end of June 2023, Matador released this eighth operated drilling rig and continued operating seven drilling rigs in the Delaware Basin. Matador currently plans to operate seven drilling rigs for the remainder of 2023. Not only is the release of the eighth drilling rig expected to save capital expenditures, but also Matador still expects to achieve its goals for oil and natural gas production and its goals for number of wells drilled and turned to sales in 2023. At July 25, 2023, the Company expects D/C/E capital expenditures for the third quarter of 2023 will be approximately $300 million and midstream capital expenditures to be approximately $90 million.