Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today published metrics aligned with standards developed by the Sustainability Accounting Standards Board (“SASB”). Matador is committed to creating long-term value in a responsible manner and aligning its ongoing environmental, social and governance (“ESG”) reporting with SASB. The publication of these metrics represents the next step in Matador’s continued efforts to highlight its commitment to ESG excellence. Matador’s SASB metrics are available on the Company’s website at www.matadorresources.com/sustainability, and Matador expects to disclose additional metrics as they become available later in the year.
Joseph Wm. Foran, Matador’s Chairman and CEO, commented, “At Matador, good stewardship has always been a guiding focus. Over the years, we have consistently highlighted our ESG achievements and now are pleased to align these disclosures with an emerging industry standard. We hope this change helps to raise the profile of our ongoing ESG efforts and provide interested parties a standardized version of Matador’s ESG efforts. We look forward to continuing to explore ways to provide our stakeholders with clear, comparable ESG information.”
In 2020, Matador grew gross operated oil production by 13% and gross operated natural gas production by 19%, as compared to 2019, while still reducing our environmental impact and continuing our strong safety record. Highlights from Matador’s 2020 ESG initiatives include:
- Decreased emissions intensity by 19% and flaring intensity by 38%, as compared to 2019;
- Decreased consumption of fresh water by 49%, as compared to 2019;
- Transported 96% of operated produced water and 65% of operated produced oil by pipeline;
- Incurred zero lost time incidents during more than 2.1 million employee man-hours from 2017 to 2020;
- Provided approximately 15,000 hours of employee continuing education, equating to approximately 55 hours per employee; and
- Revised the mandate of the Board of Directors’ Environmental, Social and Corporate Governance Committee to enhance the focus, oversight and support for the Company’s ESG efforts and to measure improvements.
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, increases in its borrowing base and otherwise; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and our business; the operating results of the Company’s midstream joint venture’s Black River cryogenic natural gas processing plant; the timing and operating results of the buildout by the Company’s midstream joint venture of oil, natural gas and water gathering and transportation systems and the drilling of any additional produced water disposal wells; and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
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