Matador Resources Co. has revised its oil production plans for 2024, reflecting the growth in the Permian Basin. The company now aims to produce an average of 98,500 to 101,500 barrels of oil per day next year, which is a 5% increase from its previous forecast.
The adjustment comes as the upper limit of Matador's earlier projection was set at 96,500 barrels per day. The company's decision highlights the strength and potential of its operations in the western region of the Permian Basin, contributing to the overall expansion of national oil production.