Matador Resources Co. nearly doubled its third quarter earnings versus the same period last year, citing improved commodity prices and operational efficiency.

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The Dallas-based independent operates primarily in the Permian Basin’s Delaware sub-basin, which accounted for 93% of total production in 3Q2011. Matador also operates in the Eagle Ford and Haynesville/Cotton Valley shale plays.

During a Wednesday conference call to discuss the results, CEO Joseph Foran highlighted a substantial increase in the average length of Matador’s horizontal wells.

He told analysts that “three years ago we drilled one well that was over a mile and a half long, and this year every well we drill will be two miles or longer except for one.”

The third quarter “was another excellent...