Matador Resources — Oct 22, 2024 release

The Delaware Basin is also where we have 10 to 15 years of inventory with an average rate of return in excess of over 50% and rank among the top producers there in both size and profitability (see Slide C ). During 2025, Matador expects to produce a record average amount of at least 200,000 BOE per day. Furthermore, Matador presently has over 600 million BOE in proved oil and natural gas reserves—again a record amount and a gain of nearly 150 million BOE over this same time period a year ago (see Slide D ). Matador can also count on a midstream business that we estimate to be worth more than $1.5 billion net to Matador (see Slide I ). Financially, Matador maintains a strong balance sheet with over $1.25 billion in liquidity as of September 30, 2024. “All of these accomplishments are connected to the teamwork, planning and execution by Matador’s Board, management, staff, vendors, leaseholders, banks and other friends. We try to come into work with a focus on how each of us can get better each day and how we can help the team and the Company get better each day. This focus has resulted in the organizational excellence that allows me to say that our team thinks that there is still plenty of work to do but Matador’s future has truly never been brighter. Integration of the Ameredev Acquisition “One of the significant accomplishments during the third quarter of 2024 was the closing of the Ameredev acquisition (see Slide E ). The positive benefits of this contiguous block of 33,500 net