Matra is an independent oil and gas company focusing on production and development of assets through its subsidiary Matra USA. Matra USA began their operations in 2013 and operates in the USA where it owns 136 leases covering an area of about 38,800 net acres located in the Texas Panhandle region. The leases are located just outside the Borger city limits. Matra has its US head office in Houston, Texas and a field office in Borger to manage day-to-day operations and production.
Through several acquisitions since 2013, Matra has created an asset base containing 22.9 MMboe of proven oil and gas reserves. Approximately 90 percent of the reserves have still not been developed. The proven reserves are conventional and the producing reservoirs have depths of between 500 and 1,000 meters with average wells drilled to a depth of 1,000 meters.
Matra is focused on production and development with the objective to increase oil and gas reserves and production over time. A large number of drilling opportunities have been identified within Matra’s leases, providing the basis and opportunity for future growth along with selective acquisitions. The company has also identified more than 200 opportunities to improve production from existing wells through reopening of shut-in wells, refracturing, deepening and work-overs.