Matador Resources Completes Delaware Basin Natural Gas Pipeline Connections

SEATTLE (Oil Monster): Matador Resources Co., Dallas, has completed certain natural gas pipeline connections in the northern Delaware basin.

Connections between Pronto Midstream and San Mateo and between Pronto Midstream and Matador’s acreage obtained in the acquisition of Advance Energy Partners Holdings LLC are complete.

These connector pipelines will provide further flow assurance and options for Matador and third-party customer natural gas volumes and should contribute to the resolution of the temporary midstream third-party maintenance issues experienced in first-quarter 2024, the comapny said.

"Both pipeline additions, which include over 20 miles of natural gas pipeline, will enable Matador to more effectively gather and transport natural gas production from the 21 Dagger Lake South wells, which are expected to be turned-to-sales in the second quarter of 2024," said Joseph Wm. Foran, Matador’s founder, chairman, and chief executive officer in a release Mar. 25.

The 19 net wells, all 1.5-mile laterals, lie in the core of the northern Delaware basin in Matador’s Ranger asset area in Lea County, NM, and were part of the Advance acquisition.

"The natural gas pipeline connection between Pronto Midstream and San Mateo can flow natural gas in either direction to optimize market conditions," he said, and will assist in the execution of priorities for production. 

In February, the company said it expects a 23% oil increase to 93,000 b/d in full-year 2024 as the company produces more wells in northern Lea County, NM.

Matador anticipates an 18% increase in expected total average production of 156,000 boe/d in full-year 2024, compared with total average production of 131,800 boe/d in full-year 2023.

Courtesy:  www.reuters.com