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Matador Resources Company (MTDR) is an independent energy company.
The firm engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States.
It operates in two segments, Exploration and Production, and Midstream.
The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.
It also operates the Eagle Ford shale play in South Texas; and the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas.
In addition, the company conducts midstream operations in support of its exploration, development, and production operations; provides natural gas processing and oil transportation services; and offers oil, natural gas, and salt water gathering, as well as salt water disposal services to third parties.
As of December 31, 2017, its estimated total proved oil and natural gas reserves were 152.8 million barrels of oil equivalent, including 86.7 million stock tank barrels of oil and 396.2 billion cubic feet of natural gas.
Shares have formed a bullish "cup and handle" and are expected to head higher from this formatio.
Entry Point: $33.50
Stop Loss: $31.75
52-Weeks Trading Range: $21.81 - $35.22
Target Price: $36.85
MTDR closed at $18.64
