Matador Resources Co. reported record natural gas, oil and total oil equivalent production during the second quarter, driven by “better-than-expected” performance of 13 new wells in the New Mexico portion of the Permian Basin, according to CEO Joseph Foran.

Permian

Natural gas production rose 23% sequentially to about 239.1 MMcf/d, while oil output was up 28% to 53,400 b/d. Total output swelled 26% to 93,200 boe/d.

The 13 new wells are part of a group dubbed the Voni wells on the western side of Matador’s Stateline asset in Eddy County, NM.

Matador plans to accelerate completion operations of the next 11 Voni wells into the fourth quarter, sooner than previous plans for 1Q2022. The faster completions will be done without increasing upstream capital...