Matador beats Q1 production guidance, raises 2026 outlook, pays down $350M+ RBL

Matador Resources Co

2026-Q1 EPS reported -$0.29 revenue$671,637,000

Q1 avg daily production 207,594 BOE/d (120,277 bbl oil/d), above guidance upper end; up 5% YoY.
Full-year 2026 production guidance increased; capital budget reaffirmed; cost per lateral foot $785-$805.
Paid down over $350M on RBL since year-end; expects full RBL repayment this month.
Estimated full-year 2026 adjusted free cash flow ~$1.1-1.2B (vs $437M in 2025 excl land/seismic).
Hugh Brinson pipeline (zero cost) expected to provide Henry Hub access by year-end 2026, reducing Waha exposure.

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