Matador Resources Q2 Revenue $265.7M, Production 78.3K BOE/D

TL;DR

**Matador Resources Q2 Revenue $265.7M, Production 78.3K BOE/D, Dividend $0.07**

AI Summary

Matador Resources Co. reported its second quarter 2024 results, with total revenues of $265.7 million for the three months ended June 30, 2024. The company's oil and natural gas production for the quarter was 78,300 barrels of oil equivalent per day. Matador Resources also announced a quarterly cash dividend of $0.07 per share, payable on September 26, 2024.

Why It Matters

This filing provides insight into Matador Resources' financial performance and operational output for the second quarter of 2024, impacting investor decisions and market sentiment for oil and gas companies.

Risk Assessment

Risk Level: medium — The oil and gas industry is subject to volatile commodity prices and regulatory changes, which can significantly impact financial performance.

Key Numbers

• $265.7M — Total Revenues (For the three months ended June 30, 2024.)
• 78,300 BOE/D — Average Daily Production (For the second quarter of 2024.)
• $0.07 — Quarterly Dividend (Per share, payable September 26, 2024.)

Key Players & Entities

• Matador Resources Co. (company) — Filer of the 10-Q report.
• 20240630 (date) — End of the reporting period for the 10-Q.
• $265.7 million (dollar_amount) — Total revenues for the three months ended June 30, 2024.
• 78,300 barrels of oil equivalent per day (dollar_amount) — Average daily production for the quarter.
• $0.07 per share (dollar_amount) — Quarterly cash dividend declared.
• September 26, 2024 (date) — Payment date for the quarterly cash dividend.

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MTDR New York Stock Exchange

Filing Documents

• mtdr-20240630.htm (10-Q) — 1587KB
• a20240630mtdr10qex311.htm (EX-31.1) — 8KB
• a20240630mtdr10qex312.htm (EX-31.2) — 8KB
• a20240630mtdr10qex321.htm (EX-32.1) — 4KB
• a20240630mtdr10qex322.htm (EX-32.2) — 4KB
• 0001520006-24-000165.txt ( ) — 7781KB
• mtdr-20240630.xsd (EX-101.SCH) — 54KB
• mtdr-20240630_cal.xml (EX-101.CAL) — 87KB
• mtdr-20240630_def.xml (EX-101.DEF) — 289KB
• mtdr-20240630_lab.xml (EX-101.LAB) — 630KB
• mtdr-20240630_pre.xml (EX-101.PRE) — 442KB
• mtdr-20240630_htm.xml (XML) — 1157KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3

Financial Statements — Unaudited

Item 1. Financial Statements — Unaudited 3 Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income for the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42

— OTHER INFORMATION

PART II — OTHER INFORMATION 43

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Repurchase of Equity by the Company or Affiliates

Item 2. Repurchase of Equity by the Company or Affiliates 43

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45

SIGNATURES

SIGNATURES 46 Table of Contents

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION

Financial Statements — Unaudited

Item 1. Financial Statements — Unaudited Matador Resources Company and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS — UNAUDITED (In thousands, except par value and share data) June 30, 2024 December 31, 2023 ASSETS Current assets Cash $ 15,242 $ 52,662 Restricted cash 48,661 53,636 Accounts receivable Oil and natural gas revenues 294,019 274,192 Joint interest billings 204,931 163,660 Other 29,090 35,102 Derivative instruments 5,590 2,112 Lease and well equipment inventory 38,046 41,808 Prepaid expenses and other current assets 102,861 92,700 Total current assets 738,440 715,872 Property and equipment, at cost Oil and natural gas properties, full-cost method Evaluated 10,376,411 9,633,757 Unproved and unevaluated 1,478,247 1,193,257 Midstream properties 1,448,343 1,318,015 Other property and equipment 41,995 40,375 Less accumulated depletion, depreciation and amortization ( 5,667,208 ) ( 5,228,963 ) Net property and equipment 7,677,788 6,956,441 Other assets Derivative instruments 2,030 558 Other long-term assets 100,133 54,125 Total other assets 102,163 54,683 Total assets $ 8,518,391 $ 7,726,996 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 96,241 $ 68,185 Accrued liabilities 388,353 365,848 Royalties payable 195,795 161,983 Amounts due to affiliates 19,576 28,688 Derivative instruments 14,704 — Advances from joint interest owners 56,439 19,954 Other current liabilities 85,433 40,617 Total current liabilities 856,541 685,275 Long-term liabilities Borrowings under Credit Agreement 95,000 500,000 Borrowings under San Mateo Credit Facility 512,000 522,000 Senior unsecured notes payable 1,374,596 1,184,627 Asset retirement obligations 93,952 87,485 Deferred income taxes 673,955 581,439 Other long-term liabilities 56,742 38,482 Total long-term liabilities 2,806,245 2,914,033 Commitments and contingencies (Note 10) Shareholders' equity Common stock - $ 0.01 par value, 160,000

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View this 10-Q filing on SEC EDGAR