Matador Resources Company Announces Commencement of Public Offering of Common Stock

October 4, 2017

DALLAS–(BUSINESS WIRE)–Matador Resources Company (NYSE: MTDR) (“Matador”) announced today that
it has commenced an underwritten public offering of 8,000,000 shares of
its common stock.

Matador intends to use the net proceeds from this offering (i) to fund
the aggregate purchase price for approximately 9,800 gross (6,600 net)
acres in the Delaware Basin in and around its existing acreage
positions, subject to customary due diligence and closing conditions,
(ii) to fund the capital expenditures for a number of midstream
initiatives in the Delaware Basin that are either in progress or that it
expects to begin by the end of the first quarter of 2018 and (iii) for
general corporate purposes, including to fund a portion of its future
capital expenditures.

BMO Capital Markets is acting as book-running manager for the offering.
The underwriters may offer the shares of Matador’s common stock from
time to time for sale in one or more transactions on the New York Stock
Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time of
sale, at prices related to prevailing market prices or at negotiated
prices.

When available, copies of the preliminary prospectus supplement,
prospectus supplement and accompanying base prospectus relating to the
offering may be obtained free of charge on the Securities and Exchange
Commission’s website at www.sec.gov
or by sending a request to:

BMO Capital Markets
Attn: Equity Syndicate Department
3 Times
Square, 25th Floor
New York, NY 10036
Telephone:
(800) 414-3627
E-mail: [email protected]

The shares of common stock will be offered and sold pursuant to an
effective shelf registration statement on Form S-3 previously filed with
the Securities and Exchange Commission (the “SEC”). This press release
does not constitute an offer to sell or the solicitation of an offer to
buy the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
offering is being made only by means of a prospectus and related
prospectus supplement meeting the requirements of Section 10 of the
Securities Act of 1933, as amended (the “Securities Act”).

About Matador Resources Company

Matador is an independent energy company engaged in the exploration,
development, production and acquisition of oil and natural gas resources
in the United States, with an emphasis on oil and natural gas shale and
other unconventional plays. Its current operations are focused primarily
on the oil and liquids-rich portion of the Wolfcamp and Bone Spring
plays in the Delaware Basin in Southeast New Mexico and West Texas.
Matador also operates in the Eagle Ford shale play in South Texas and
the Haynesville shale and Cotton Valley plays in Northwest Louisiana and
East Texas. Additionally, Matador conducts midstream operations,
primarily through its midstream joint venture, San Mateo Midstream, LLC,
in support of its exploration, development and production operations and
provides natural gas processing, natural gas, oil and salt water
gathering services and salt water disposal services to third parties on
a limited basis.

Forward-Looking Statements

This press release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act, and Section 21E of the
Securities Exchange Act of 1934, as amended. “Forward-looking
statements” are statements related to future, not past, events.
Forward-looking statements are based on current expectations and include
any statement that does not directly relate to a current or historical
fact. In this context, forward-looking statements often address expected
future business and financial performance, and often contain words such
as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,”
“expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,”
“project,” “hypothetical,” “forecasted” and similar expressions that are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. Such
forward-looking statements include, but are not limited to, statements
about guidance, projected or forecasted financial and operating results,
results in certain basins, objectives, project timing, expectations and
intentions and other statements that are not historical facts. Actual
results and future events could differ materially from those anticipated
in such statements, and such forward-looking statements may not prove to
be accurate. These forward-looking statements involve certain risks and
uncertainties, including, but not limited to, the following risks
related to financial and operational performance: general economic
conditions; Matador’s ability to execute its business plan, including
whether its drilling program is successful; the ability of Matador’s
midstream joint venture to expand the Black River cryogenic processing
plant, the timing of such expansion and the operating results thereof;
the timing and operating results of the buildout by the Company’s
midstream joint venture of oil, natural gas and water gathering systems
and the drilling of any additional salt water disposal wells; changes in
oil, natural gas and natural gas liquids prices and the demand for oil,
natural gas and natural gas liquids; its ability to replace reserves and
efficiently develop current reserves; costs of operations; delays and
other difficulties related to producing oil, natural gas and natural gas
liquids; its ability to make acquisitions on economically acceptable
terms; its ability to integrate acquisitions; availability of sufficient
capital to execute its business plan, including from future cash flows,
increases in its borrowing base and otherwise; weather and environmental
conditions; and other important factors which could cause actual results
to differ materially from those anticipated or implied in the
forward-looking statements. For further discussions of risks and
uncertainties, you should refer to Matador’s filings with the SEC,
including the “Risk Factors” section of Matador’s most recent Annual
Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.
Matador undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances occurring
after the date of this press release, except as required by law,
including the securities laws of the United States and the rules and
regulations of the SEC. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this press release. All forward-looking statements are qualified in
their entirety by this cautionary statement.