Matador posts record Q3 production 171,480 BOE/d, raises dividend 25%, ups 2024 guidance

Matador Resources Co

2024-Q3 EPS reported $5.44 revenue$2,534,612,000

Record Q3 net income $248.3M ($1.99 diluted EPS); adjusted EPS $1.89, adjusted EBITDA $574.5M.
Record average production 171,480 BOE/d (100,315 bbl oil/d); adjusted free cash flow $196.1M.
Ameredev acquisition closed Sept 18; contributed 31,500 BOE/d; expects $160M synergies over 5 years.
Dividend increased 25% to $0.25/quarter ($1.00 annual); fifth increase in 4 years.
Issued $750M of 6.25% senior notes; leverage 1.3x; expects <1.0x by mid-2025.

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