earnings
confidence high
sentiment positive
materiality 0.85
Matador Q2 record production 160,305 BOE/day; raises FY2024 guidance; $1.905B Ameredev deal pending
Matador Resources Co
2024-Q2 EPS reported
$3.45
revenue$1,634,829,000
- Record avg Q2 production 160,305 BOE/day (95,488 bbl oil/day), 2% above expectations; net income $228.8M ($1.83 diluted EPS).
- Raised FY2024 production guidance: total to 158,500-163,500 BOE/day (+3.2% midpoint); oil raised to 93,500-96,500 Bbl/day.
- Pending $1.905B Ameredev acquisition (33,500 net acres) expected close late Q3 2024, not yet reflected in guidance.
- D/C/E capex $314.5M ($25.5M below expectation); full-year D/C/E costs expected $1.10-$1.30B; cost per lateral foot down 11% YoY to $960.
- Adjusted EBITDA $578.1M; adjusted free cash flow $167.0M; net cash from operations $592.9M.