Matador Res Co Stock Price, News & Analysis

Matador Resources Company (NYSE: MTDR) reported strong first-quarter 2023 results, achieving an average production of 106,654 BOE per day, exceeding expectations by 6%. This performance was driven by better production from the Stateline area and quicker well completions. The company closed the $1.6 billion acquisition of Advance Energy Partners, adding over 100 million barrels to its existing 357 million barrels of reserves. Financial highlights include a net income of $163.1 million and adjusted earnings of $1.50 per diluted share. Lower-than-expected capital expenditures and a strong cash flow position, with over $600 million in liquidity, support future growth. Matador anticipates a production increase to approximately 126,500 BOE per day in Q2 2023, bolstered by the Advance acquisition.

Matador Resources Company (NYSE: MTDR) has declared a quarterly cash dividend of $0.15 per share of common stock. This dividend will be payable on June 1, 2023, to shareholders of record as of May 11, 2023. Matador is focused on the exploration and production of oil and natural gas, emphasizing shale plays in the Delaware Basin of Southeast New Mexico and West Texas. The company is also involved in midstream operations, providing services such as gas processing and oil transportation. The announcement reflects Matador's ongoing commitment to returning value to its shareholders.

Matador Resources Company (NYSE: MTDR) plans to announce its first quarter 2023 operational and financial results after trading closes on April 25, 2023. Following this, a live conference call is scheduled for April 26, 2023, at 10:00 a.m. Central Time to discuss the results and operational highlights. Investors can access the live call via a provided link and on the company’s website. Matador engages in the exploration, development, and production of oil and natural gas, focusing on unconventional plays in the Delaware Basin, Southeast New Mexico, West Texas, and Eagle Ford shale. Additional details on midstream operations and investor relations are available on its website.

Matador Resources Company (NYSE: MTDR) has successfully closed the acquisition of Advance Energy Partners Holdings, LLC for approximately $1.6 billion, enhancing its oil and gas assets in Lea County, New Mexico, and Ward County, Texas. The acquisition includes 18,500 net acres in the Delaware Basin, significantly increasing Matador's operational inventory with 206 gross operated locations. Matador plans to fund the acquisition through cash reserves and credit facilities, maintaining a strong leverage profile. This strategic acquisition is anticipated to bolster Matador's growth trajectory in 2023 and 2024, further solidifying its market position.

Matador Resources Company (NYSE: MTDR) has announced a private offering of $500 million in 6.875% senior unsecured notes due 2028, increasing the initial amount from $400 million. The notes are priced at 98.960% of their face value and are set to close on April 11, 2023, pending customary conditions. The proceeds will be utilized for general corporate purposes. The notes are unregistered under the Securities Act and may not be sold in the U.S. without proper registration or exemption. Matador focuses on oil and gas resource exploration and production in several regions across the United States.

Matador Resources Company (NYSE: MTDR) plans to offer $400 million of senior unsecured notes due 2028, subject to market conditions. The proceeds will be used for general corporate purposes. The notes will not be registered under the Securities Act, and resale is permitted under Rule 144A and Regulation S. Matador is an independent energy company focused on oil and natural gas exploration and production, mainly in the Delaware Basin and Eagle Ford shale. The press release includes cautionary forward-looking statements regarding potential risks and uncertainties that may affect future performance.

Matador Resources Company (NYSE: MTDR) reported robust financial and operational results for 2022, completing the year with record production and net income. The company achieved an average production of 111,700 BOE per day in Q4 2022, marking a 22% annual increase to 38.5 million BOE for the year. Net income reached $1.21 billion or $10.11 per diluted share, a significant rise from the previous year. An increased dividend of $0.15 per share was announced, and the company plans to acquire Advance Energy for $1.6 billion. 2023 guidance includes total oil production of 26.4 to 27.3 million barrels.

Matador Resources Company (NYSE: MTDR) has announced the promotion of Brian J. Willey to Chief Financial Officer, effective February 16, 2023. Willey, who joined Matador in 2014, previously served as President of Midstream Operations and General Counsel. His extensive background includes corporate law and governance, focusing on mergers and acquisitions. Matador's founder, Joseph Wm. Foran, expressed confidence in Willey's ability to strengthen relationships with stakeholders and enhance strategic planning. Matador operates primarily in the Delaware Basin and conducts midstream operations, providing various services to the oil and gas industry.