Matador Resources reported a 9% reserve increase in Q4 2025, highlighting Avalon formation as a significant contributor alongside other zones driving overall reserve growth.
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Can you quantify how much of the 9% reserve increase is attributable to Avalon versus other zones?
Quantifying the 9% Reserve Increase: Avalon vs. Other Zones
Matador Resources Company reported a 9% increase in reserves as measured by Netherland and Sul during 2025, reflecting strong reserve growth despite stable production and reduced capital expenditures. This reserve increase is attributed to multiple factors, including delineation success in several zones and improved operational efficiencies.
| Aspect | Details | Citation |
|---|---|---|
| Total reserve increase | 9% reserve increase as per Netherland and Sul | 34 |
| Avalon formation impact | Strong production; key well nearing 400,000 BOE; expanded running room and inventory | 1 |
| Other zones (Third Bone Spring Carbonate, Wolfcamp D) | Added inventory and drilling success contributing to incremental reserves | 12 |
| Undrilled lateral footage | 2% increase in net undrilled lateral footage overall, including contributions from multiple zones | 14 |
| Average lateral length | 6% increase in average lateral length from 2024 to 2025, aiding reserve growth | 1 |
Because the company’s disclosures do not provide a numeric breakdown of the 9% reserve growth by zone, the best supported conclusion is that Avalon constitutes a significant, leading portion of the reserve increase, supported by notable well productivity and inventory expansion, while incremental reserve additions from other formations like the third Bone Spring Carbonate and Wolfcamp D also materially contributed to the overall reserve increase.
References:
1 Matador Q4 2025 Earnings Transcript — Discussion on Avalon, inventory additions, and lateral increases.
4 Matador Q4 2025 Earnings Transcript — Overall reserve increase announcement and production details.
3 Matador Q4 2025 Earnings Transcript — Commentary on reserve growth methodology and impact.
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