Matador Resources Company Announces Pricing of Public Offering of Common Stock

May 15, 2018

DALLAS–(BUSINESS WIRE)–Matador Resources Company (NYSE: MTDR) (ÔÇ£MatadorÔÇØ) announced today that
it has priced an underwritten public offering of 7,000,000 shares of its
common stock. The total estimated gross proceeds of the offering, before
estimated offering fees and expenses, are approximately $229.3 million.
The offering is expected to close on May 17, 2018, subject to customary
closing conditions.

Matador intends to use the net proceeds from this offering to fund the
acquisition of leasehold and mineral acres in the Delaware Basin,
including additional drilling and completion expenditures directly
attributable to increased working interests, to fund the capital
expenditures related to a number of midstream initiatives in the
Delaware Basin and for general corporate purposes. Pending such uses,
Matador intends to repay all outstanding borrowings under its revolving
credit facility and invest the remaining funds in short-term marketable
securities.

RBC Capital Markets is acting as the sole underwriter for the offering.
The underwriter may offer the shares of MatadorÔÇÖs 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
CommissionÔÇÖs (the ÔÇ£SECÔÇØ) website at www.sec.gov
or by sending a request to:

RBC Capital Markets, LLC
Attn: Equity Syndicate
200 Vesey
Street, 8th Floor
New York, NY 10281-8098
Telephone: (877)
822-4089
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 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 ÔÇ£Securities ActÔÇØ).

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, oil transportation services, natural
gas, oil and salt water gathering services and salt water disposal
services to third parties.

Forward-Looking Statements

This press release includes ÔÇ£forward-looking statementsÔÇØ within the
meaning of Section 27A of the Securities Act, and Section 21E of the
Securities Exchange Act of 1934, as amended. ÔÇ£Forward-looking
statementsÔÇØ 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 ÔÇ£could,ÔÇØ ÔÇ£believe,ÔÇØ ÔÇ£would,ÔÇØ ÔÇ£anticipate,ÔÇØ ÔÇ£intend,ÔÇØ ÔÇ£estimate,ÔÇØ
ÔÇ£expect,ÔÇØ ÔÇ£may,ÔÇØ ÔÇ£should,ÔÇØ ÔÇ£continue,ÔÇØ ÔÇ£plan,ÔÇØ ÔÇ£predict,ÔÇØ ÔÇ£potential,ÔÇØ
ÔÇ£project,ÔÇØ ÔÇ£hypothetical,ÔÇØ ÔÇ£forecastedÔÇØ 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; MatadorÔÇÖs ability to execute its business plan, including
whether its drilling program is successful; 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; the operating results of MatadorÔÇÖs midstream joint ventureÔÇÖs
expansion of the Black River cryogenic processing plant; the timing and
operating results of the buildout by MatadorÔÇÖs midstream joint venture
of oil, natural gas and water gathering and transportation systems and
the drilling of any additional salt water disposal wells; 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
MatadorÔÇÖs filings with the SEC, including the ÔÇ£Risk FactorsÔÇØ section of
MatadorÔÇÖs 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.