Welcome to our dedicated page for Matador Res news (Ticker: MTDR), a resource for investors and traders seeking the latest updates and insights on Matador Res stock.
Matador Resources Company reports news on its independent oil and natural gas exploration, development, production and acquisition business in the United States. The company's operations focus primarily on the oil and liquids-rich Wolfcamp and Bone Spring plays in the Delaware Basin of Southeast New Mexico and West Texas, with additional activity in the Haynesville shale and Cotton Valley plays in Northwest Louisiana.
Recurring updates cover operating and financial results, production guidance, capital spending, reserve-based lending activity, dividends, senior note transactions and executive leadership changes. Matador also reports developments tied to its midstream operations, including natural gas processing, oil transportation, natural gas, oil and produced water gathering, and produced water disposal services for its own operations and third parties.
Matador Resources Company (NYSE: MTDR) reported record financial and operational results for Q2 2024. Highlights include a record average total production of 160,305 BOE per day and a net income of $228.8 million ($1.83 per diluted share). Adjusted net income stood at $255.9 million ($2.05 per diluted share), with an adjusted EBITDA of $578.1 million.
Effective July 23, 2024, Matador increased its full-year 2024 guidance for total production, oil production, and natural gas production by 3.2%, 2.2%, and 4.8%, respectively. This updated guidance excludes potential production from the anticipated $1.905 billion acquisition of Ameredev II Parent, expected to close in Q3 2024.
Matador achieved operational efficiencies, setting 20 drilling records and saving $6 million. Notably, D/C/E capital expenditures were $314.5 million, 8% below expectations. The company also initiated its first 'trimul-frac' completion, projecting $350,000 savings per well. Matador aims to turn 32 new wells to sales in Q3 2024 and forecasts 164,000 BOE per day production for the quarter.
Matador Resources Company (NYSE: MTDR) has announced a quarterly cash dividend of $0.20 per share of common stock. The dividend will be payable on September 5, 2024 to shareholders of record as of August 15, 2024. This declaration by Matador's Board of Directors demonstrates the company's commitment to returning value to its shareholders through regular dividend payments.
Matador Resources Company (NYSE: MTDR) announced the release date for its second quarter 2024 operational and financial results. The results will be published after the market closes on Tuesday, July 23, 2024.
In addition, the company will host a live conference call on Wednesday, July 24, 2024, at 10:00 a.m. Central Time to discuss these results and highlight operational aspects. Participants can register through a provided link to obtain dial-in details and are advised to connect 15 minutes prior to the start time.
The conference call will also be accessible via Matador’s website, and a replay will be available for one year on the Events and Presentations page under Investor Relations.
Matador Resources Company (NYSE: MTDR) has announced an agreement to acquire a subsidiary of Ameredev II Parent, , including oil and gas properties in New Mexico and Texas, for $1.905 billion. The acquisition also includes a 19% stake in Piñon Midstream, The deal is expected to close in late Q3 2024 with an effective date of June 1, 2024. On completion, Matador expects to hold over 190,000 net acres in the Delaware Basin, production of over 180,000 BOE per day, and reserves totaling over 580 million BOE. The transaction aims to generate an Adjusted EBITDA of $425-475 million in the forward year, maintaining a leverage ratio below 1.0x by mid-2025. The acquisition adds 33,500 net acres, 431 gross drilling locations, and significant reserves to Matador's portfolio.
Matador Resources Company (NYSE: MTDR) has announced the details for its 2024 Annual Meeting of Shareholders, scheduled for June 13, 2024, at 9:30 a.m. Central Time at the Hilton Anatole hotel in Dallas, Texas. The meeting will include a continental breakfast for shareholders to interact with directors, management, and employees, with a live webcast available for remote access.
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