Matador Resources Company Announces Start-up of Rustler Breaks Cryogenic Natural Gas Processing Plant

Matador Resources Company today announced the successful start-up last week of the Black River cryogenic natural gas processing plant Matador built in its Rustler Breaks prospect area in the Delaware Basin of Eddy County, New Mexico. The Black River processing plant has an inlet capacity of approximately 60 million cubic feet of natural gas per day, which is almost twice the size of the previous cryogenic processing plant Matador built in its Wolf prospect area and subsequently sold to an affiliate of EnLink Midstream, LLC. This new plant will support Matador’s ongoing and future development efforts at Rustler Breaks. Matador has also completed the installation and testing of a 12-inch natural gas gathering line running throughout the length of its Rustler Breaks acreage position, and this natural gas gathering line is now operational and being used to gather much of Matador’s natural gas production at Rustler Breaks.

Mr. Joseph Wm. Foran, Chairman and Chief Executive Officer of Matador, said, “We are excited to announce we have successfully brought the Black River cryogenic processing plant online both on time and on budget. The plant provides Matador with priority one takeaway and processing for our Rustler Breaks natural gas production and should also provide additional income through the processing of third-party natural gas. As a result of the strong execution of our midstream team, we believe we have generated significant value for our shareholders. These efforts include ensuring adequate firm takeaway capacity for our natural gas production in the Rustler Breaks prospect area and continuing to operate the salt water disposal assets and the three separate pipeline systems, which we retained in Wolf and which gather oil, natural gas, and water for our growing production in the area.”