Matador Q1 production beat guidance; raises full-year outlook to high end

Matador Resources Co

2024-Q1 EPS reported $1.61 revenue$787,693,000

Q1 avg production 149,760 BOE/d (84,777 bbl oil/d), 3% above guidance; net income $193.7M ($1.61 diluted EPS).
Adjusted EBITDA $505.4M; adjusted net income $206.2M ($1.71 diluted EPS); adjusted free cash flow $28.6M.
D/C/E capex $350.7M, ~$35M below expectations; trimul-frac test boosted lateral footage 40%, saving $100k/well.
Full-year 2024 guidance raised to high end: oil 91-95k bbl/d, gas 370-386 MMcf/d, total 153-159k BOE/d.
Balance sheet strengthened: $900M 6.50% senior notes due 2032 issued; $350M equity offering; credit facility expanded to $3.5B.

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 0.6

Matador Resources Co updated its the first quarter of 2024 guidance (raised).

Period: the first quarter of 2024
Guidance: raised
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 first quarter of 2024.

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Source: SEC EDGAR

accession 0001520006-24-000095

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