Quarterly ResultMay 6, 2026, 04:26 PM
Matador Q1 Oil Production Exceeds Guidance; Increases 2026 Outlook
AI Summary
Matador Resources Company reported strong first quarter 2026 financial and operating results, with average daily oil production of 120,277 barrels, exceeding prior guidance by 3%. The company increased its full-year 2026 oil production guidance and reaffirmed its capital spending plan, reflecting improved capital efficiency. Matador also paid down over $350 million on its RBL facility and expects full repayment this month, significantly strengthening its balance sheet and liquidity. The company anticipates full-year 2026 adjusted free cash flow of $1.1 to $1.2 billion.
Key Highlights
- Q1 2026 average daily oil production was 120,277 Bbl/day, exceeding guidance by 3%.
- Full-year 2026 oil production guidance increased to 123,000-125,000 Bbl/day.
- Paid down over $350 million on RBL facility, anticipating full repayment this month.
- Estimated adjusted free cash flow for full year 2026 is $1.1 to $1.2 billion.
- Q1 2026 Adjusted EBITDA was $577.2 million.
- Q1 2026 net loss attributable to shareholders was $(35.9) million; adjusted net income was $189.5 million.
- Q1 2026 total capital expenditures were $428.1 million, in line with guidance.
- Hugh Brinson pipeline expected to add $90 million annually for each $0.50/MMBtu natural gas price increase.