Dallas-basedMatador Resources Co. (NYSE: MTDR) has announced its quarterly production results for the three months ended September 30, 2014, which were the best quarterly oil equivalent production and quarterly oil production results in the company’s history.

Matador’s third quarter production results were consistent with its production estimates of a 6% to 8% increase in oil equivalent production. For the nine months ended September 30, 2014, Matador’s total oil equivalent production was approximately 4.0 million boe, including about 2.3 million barrels of oil and about 10.0 Bcf of natural gas. This growth in the third quarter of 2014 was limited in part as a result of the timing of Matador’s completion operations, particularly in the Eagle Ford Shale during the quarter, and the planned temporary shut-ins of certain of its Eagle Ford and Haynesville wells while Matador and its partners on Matador’s non-operated properties conducted hydraulic fracturing operations on multi-well pads. Matador had up to 15% to 20% of its production temporarily shut in at various times during the third quarter of 2014 and particularly so in the month of September. In the first few days of October, Matador’s daily production surged as most of these temporarily shut-in wells, particularly in the Eagle Ford Shale, were returned to production, along with the initial production from several newly completed Eagle Ford Shale wells. In addition, Chesapeake Energy Corp. placed four new Haynesville shale wells on production in early October. This increased Eagle Ford and Haynesville production, as well as the initial production from one new Permian Basin well in Matador’s Wolf prospect area and the continued strong early performance of its other Permian Basin wells, resulted in an increase in Matador’s average daily oil equivalent production to more than 20,000 BOE per day for the first time in the company’s history. Matador expects to maintain its average daily oil equivalent production at or above 20,000 boe per day for the remainder of 2014.

Matador currently anticipates that its total oil equivalent production for 2014 will be between 5.9 and 6.0 million boe, representing an anticipated increase of between 25% and 33% in the fourth quarter of 2014 as compared to the third quarter, and the sequential quarter to quarter increase of about 6% between the second and third quarter of 2014.

Matador is increasing its 2014 oil production guidance range from the high end of 2.8 to 3.1 million barrels to 3.2 to 3.3 million barrels. Matador further guides its investors to the middle or lower half of its 2014 natural gas guidance range of 16.0 to 17.5 Bcf, primarily as a result of better visibility around the expected timing of initial natural gas production from several new Haynesville wells on its Elm Grove properties in northwest Louisiana to be completed and placed on production by Chesapeake in the latter portion of the fourth quarter.