Matador Q3 net income $263.7M, record production, raises dividend, boosts Q4 guidance

Matador Resources Co

2023-Q3 EPS reported $4.93 revenue$1,970,653,000

Record Q3 production 135,096 BOE/d (77,529 bbl oil/d); net income $263.7M ($2.20 diluted EPS).
Adjusted net income $223.4M ($1.86 adjusted EPS); Adjusted EBITDA $508.3M.
Quarterly dividend increased 33% to $0.20/share; borrowing base raised $250M to $2.5B.
Q4 production guidance raised to ~145,000 BOE/d (from 143,000 BOE/d); added 8th drilling rig for Q1 2024.
Repaid $200M of $700M drawn for Advance acquisition; leverage ratio ~1.0x; full debt repayment expected in 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Matador Resources Co reported financial results for the third quarter of 2023.

Period: the third quarter of 2023
Result: reported results

Exact text from the filing

Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today reported financial and operating results for the third quarter of 2023.

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Matador Resources Co filing history →

Source: SEC EDGAR

accession 0001520006-23-000192

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