Matador Resources
Posted: Wed Nov 26, 2014 12:00 pm
Matador Resources (MTDR): An updated profile and forecast model have been posted under the Sweet 16 Tab.
Matador is one of the smallest companies in the Sweet 16. Like all small-caps with a relatively small float, the share price flops around quite a bit. Despite an incredible year, the share price is near the low end of its 52-week range.
Take a look at this production growth:
2012A = 9,009 boepd (36.8% crude oil)
2013A = 11,724 boepd (49.7% crude oil)
2014E = 16,156 boepd (55.7% crude oil) < exit rate at 12/31/2014 s/b ~22,000 boepd
2015E = 25,500 boepd (51.0% crude oil)
Note that the company has not provided 2015 production guidance. My forecast above is based on an exit rate of 22,000 boepd + their four rig program and the JV with Chesapeake in the Haynesville. This one is definitely a "Keeper".
Matador is one of the smallest companies in the Sweet 16. Like all small-caps with a relatively small float, the share price flops around quite a bit. Despite an incredible year, the share price is near the low end of its 52-week range.
Take a look at this production growth:
2012A = 9,009 boepd (36.8% crude oil)
2013A = 11,724 boepd (49.7% crude oil)
2014E = 16,156 boepd (55.7% crude oil) < exit rate at 12/31/2014 s/b ~22,000 boepd
2015E = 25,500 boepd (51.0% crude oil)
Note that the company has not provided 2015 production guidance. My forecast above is based on an exit rate of 22,000 boepd + their four rig program and the JV with Chesapeake in the Haynesville. This one is definitely a "Keeper".