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.