Matador Resources Co

Matador Resources Company announced two strategic acquisitions and successful Woodford exploration well results. A wholly-owned subsidiary will acquire Paloma Permian LLC for $1.275 billion in cash, adding 16,235 net undeveloped acres and 55 million BOE in proved reserves. Matador also acquired acreage from Ridge Runner Resources II, LLC, expanding its Woodford position to approximately 50,000 net acres. Additionally, the company reported initial production rates exceeding 2,200 BOE per day from its Rae’s Creek Woodford well, validating the commercial viability of the formation.

Matador Resources Company's subsidiary, MRC Energy Company, amended its credit agreement, reaffirming its borrowing base at $3.25 billion and increasing aggregate elected borrowing commitments from $2.25 billion to $2.75 billion. This amendment, which constituted the regularly scheduled May 1 redetermination, also involved new and increasing lenders. Additionally, the company held its Annual Meeting of Shareholders on June 11, 2026. At the meeting, directors were elected, 2025 executive compensation was approved, and KPMG LLP was ratified as the independent auditor for 2026.

Matador Resources Company reported a net loss of $35.9 million for Q1 2026, a significant decline from a net income of $240.1 million in Q1 2025, with basic EPS falling to $(0.29) from $1.92. Total revenues decreased by 33.8% to $671.6 million, largely impacted by a $255.5 million unrealized loss on derivatives. The company also completed a debt restructuring, repurchasing and redeeming $500 million of 2028 Notes and issuing $750 million of new 2034 Notes, incurring a $15.6 million loss on debt extinguishment.

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.

Matador Resources Company filed its definitive proxy statement for its Annual Meeting of Shareholders to be held on June 11, 2026. Shareholders will vote on the election of three director nominees, an advisory resolution to approve executive compensation, and the ratification of KPMG LLP as the independent auditor for 2026. The company also highlighted strong 2025 operational and financial results, including record production, increased dividends, and a share repurchase program.

Matador Resources Company announced the promotions of Christopher P. Calvert to Executive Vice President and Chief Financial Officer and Glenn W. Stetson to Executive Vice President and Chief Operating Officer, effective April 21, 2026. Mr. Calvert assumes the CFO role from Robert T. Macalik, whose departure was not related to any financial or accounting issues or disagreements with the company. These promotions are intended to strengthen Matador's focus on execution, efficiency, and long-term value creation.

Matador Resources Company announced the declaration of a quarterly cash dividend on its common stock. This dividend is being paid in accordance with the dividend policy adopted by the company's Board of Directors in October 2025. The company noted that the payment of any future dividends will remain at the discretion of the Board, contingent on various factors including financial performance, cash flows, and capital requirements.