Matador Resources (MTDR)

dan_s · Post by **dan_s** » Sat Feb 13, 2016 6:29 pm

I have updated my forecast model for MTDR and it will be posted to the EPG website this evening.

My valuation drops to $23.20, compared to First Call's price target of $21.76.

Matador has announced a capital budget for 2016 of $325 million, which compares to my cash flow forecast of $115 to $120 million. I do expect them to drop from a three rig to a two rig program in Q2. If oil prices stay low, they may be forced to halt all drilling. They remain focused on the Permian Basin.