Matador Resources Company

Matador Resources Company Reports Third Quarter 2026 Results Including Record Oil Production and Continued Debt Repayment

Matador delivered record Q3 2026 results with oil and natural gas revenue up 51% year-over-year to $1.22 billion, driven by record production of 230,470 BOE per day (+10% YoY) that beat guidance by 3%. The quarter also showed capital discipline: CapEx of $381 million came in 10% below guidance midpoint, and the company repaid $150 million of debt in October, $50 million more than previously announced, with leverage expected to approach 1.5x by year-end. Matador raised the midpoint of FY26 production guidance to 223,000-224,000 BOE per day (7% growth) and increased its annual dividend 17% to $1.75 per share -- its eighth dividend increase in five years. Natural gas was a standout: realizations improved to $2.99/Mcf from negative $0.79 in Q2 after the Hugh Brinson pipeline commissioning, with higher realizations expected from Gulf Coast LNG-linked gas sales agreements starting Q1 2027.

•5d ago

San Mateo Midstream Announces Expansion of Delaware Basin Infrastructure and New Long-Term Agreements

San Mateo Midstream, the midstream joint venture 51%-owned by Matador Resources (MTDR), signed a new long-term fixed-fee natural gas gathering and processing agreement covering newly dedicated acreage in Lea and Eddy Counties, New Mexico, plus a multi-year extension of the existing Black River Plant agreement with a large Northern Delaware Basin producer. To service the new volumes and Matador production, San Mateo plans a new 300 MMcf per day processing train and nitrogen rejection unit at the Marlan Plant complex plus roughly 20 miles of new pipeline, targeting completion by year-end 2028. San Mateo expects the new agreements to generate Adjusted EBITDA in excess of $100 million by the end of 2029, on top of an estimated $100-$115 million from the Cardinal system by 2028, lifting total processing capacity above 1.3 Bcf per day.

•6d ago

Matador Resources Company Announces Expansion of San Mateo’s Delaware Basin Infrastructure and New Long-Term Agreements

Matador's 51%-owned midstream JV San Mateo signed two long-term fixed-fee natural gas gathering and processing agreements with a large Northern Delaware Basin producer, including a new large-scale acreage dedication in Lea and Eddy Counties, New Mexico. To service the new volumes plus Matador production, San Mateo plans a 300 MMcf/d Marlan Plant expansion with a nitrogen rejection unit and ~20 miles of new pipeline, targeted for completion by year-end 2028; post-expansion processing capacity will exceed 1.3 Bcf/d. Matador raised its FY2026 midstream capex guidance by ~$25 million to $170-$190 million, and San Mateo believes the new agreements could generate Adjusted EBITDA in excess of $100 million by the end of 2029.

•6d ago

Matador Resources Company Increases Quarterly Cash Dividend

Matador Resources raised its fixed quarterly dividend 17% to $0.4375 per share ($1.75 annualized), beginning with the Q4 2026 payment. The board declared the increased dividend payable December 4, 2026 to shareholders of record as of November 10, 2026. CEO Joseph Wm. Foran called it the eighth increase in five years, framing it as evidence of confidence in free cash flow generation and debt repayment.

•18d ago

Matador Resources Company Closes Ridge Runner Acquisition and Provides Updated Woodford Production and Activity Details

Matador closed its Ridge Runner Acquisition, adding approximately 13,600 net acres mostly of undeveloped Woodford acreage and bringing its total Woodford position to roughly 50,000 net acres at an average cost of $4,000 per acre. The acreage adds over 150 net operated Woodford locations at about $1.3 million per location, and the Rae's Creek well has averaged over 1,000 barrels of oil per day in its first 100 days, tracking to beat its 800,000-barrel EUR. Matador plans a second Woodford well in Q4 2026 and up to 15 wells by year-end 2027, targeting 30-40% Woodford well-cost savings, and expects $350-$400 million of debt repayments by end of year.

•1mo ago

Matador Resources Company Closes Paloma Acquisition and Provides Additional Integration Details

Matador Resources closed its $1.255 billion cash acquisition of Paloma Permian LLC from EnCap Investments, adding 16,500 net acres and 156+ net drilling locations in New Mexico's Delaware Basin. Since June 1, 2026, production on the acquired acreage has outperformed Matador's underwriting estimates by roughly 10%, driven by Paloma's newest Eddy County wells. With Paloma plus the pending Ridge Runner deal, Matador expects roughly 240,000 net Delaware Basin acres in Q4 2026 — nearly 20% above its October 2025 position of 203,000 net acres. The company plans to pay down $350-400 million on its PNC-led credit facility after Q4 closings, supporting free cash flow and debt-reduction plans.

•1mo ago

Matador Resources Company Reports Second Quarter 2026 Results and Increases Full-Year 2026 Production Guidance

Matador Resources reported record Q2 oil production of 126,106 barrels per day, exceeding guidance, and raised its full-year 2026 oil production outlook to 127,500-129,000 bopd. The company executed four strategic catalysts including the acquisitions of Cardinal Midstream, Paloma Permian, and Ridge Runner Resources, adding approximately four years of high-quality drilling inventory and expanding reserves to 703 million BOE. Financial strength was evident with $303.2 million of adjusted free cash flow, enabling the repayment of over $200 million in borrowings and a $500 million increase in its credit facility to $2.75 billion.

•3mo ago

Matador Resources Company Announces Successful Closing of San Mateo’s Acquisition of Cardinal Midstream

Matador Resources' 51%-owned joint venture, San Mateo Midstream, completed its $752 million acquisition of Cardinal Midstream's operating subsidiaries. The deal adds 320 MMcf/d of natural gas processing capacity and 145 miles of pipelines, increasing San Mateo's total processing capacity to over 1 Bcf/d in the northern Delaware Basin. Cardinal assets are expected to generate up to $110 million in annualized Adjusted EBITDA by 2028, financed through a $650 million term loan and partner contributions without recourse to Matador.

•3mo ago

Matador Resources Company Announces Strategic Delaware Basin Acquisitions and Successful Woodford Exploration Well Results

Matador Resources agreed to acquire Paloma Permian for $1.275 billion in cash, adding 16,235 net undeveloped acres in the Delaware Basin and approximately 11,100 barrels of oil equivalent per day of third-quarter production. The transaction includes $816 million of PV-10 value and 55 million BOE of proved reserves, strengthening the company's position in Southeast New Mexico. Simultaneously, Matador is acquiring Ridge Runner Resources to consolidate a 50,000 net acre position in the Woodford play, a move validated by the successful Rae's Creek exploration well. The Rae's Creek well recorded initial production rates exceeding 2,200 BOE per day, confirming commercial viability in this emerging area. Management expects to fund both transactions with cash on hand and borrowings under its existing credit facility, targeting a return to a leverage ratio near 1.0x within 12 to 18 months. The company anticipates generating approximately $1 billion in adjusted free cash flow for full-year 2026 to support this repayment.

•3mo ago

Matador Resources Company Declares Quarterly Cash Dividend

Matador Resources Company declared a quarterly cash dividend of $0.375 per share on its common stock. The dividend is payable on September 8, 2026 to shareholders of record as of August 10, 2026. Matador is an independent energy company focused on the exploration and production of oil and natural gas, primarily in the Delaware Basin and Haynesville shale.

•3mo ago

Matador Resources Company Announces Expansion of San Mateo’s Delaware Basin Footprint Through the Acquisition of Cardinal Midstream

Matador Resources announced that its 51%-owned midstream joint venture, San Mateo, has agreed to acquire Cardinal Midstream for $752 million in cash. The deal adds 320 million cubic feet per day of processing capacity and 145 miles of pipeline, expanding San Mateo’s total capacity to over 1 Bcf/d and 800 miles of gathering. Financing includes a $650 million term loan led by PNC and Truist, with the remainder funded by cash on hand and partner contributions. Matador expects the deal to be cash-neutral for the parent company and immediately accretive to EBITDA.

•4mo ago

Matador Resources Company Provides Strategic Natural Gas Marketing Update

Matador Resources has entered into multiple agreements with Energy Transfer LP affiliates, including a gas supply agreement and separate NGL dedication deals, to improve realized pricing in the second half of 2026. These agreements serve as a bridge to higher-margin markets ahead of the October 2025 start of firm transportation on Energy Transfer’s Hugh Brinson Pipeline, which will move 500,000 MMBtu/day out of the Permian Basin. The strategy aims to reduce exposure to depressed Waha Hub pricing by accessing points of sale with historically higher demand, including AI-driven data centers and power generation markets.

•5mo ago

Matador Resources Company Announces Successful Acquisitions in Federal Lease Sale

Matador Resources acquired 5,154 net undeveloped acres in the core Delaware Basin from the Bureau of Land Management for approximately $1.143 billion. The deal adds over 141 net operated locations with an implied cost of $7.3 million per location, leveraging existing infrastructure and midstream assets like San Mateo. Management expects to fund the acquisition through cash on hand and its credit facility, with full-year 2026 adjusted free cash flow guidance of $1.2 billion supporting rapid paydown.

•5mo ago

Matador Resources Company Declares Quarterly Cash Dividend

Matador Resources Company’s Board of Directors declared a quarterly cash dividend of $0.375 per share. The dividend is payable on June 5, 2026, to shareholders of record as of May 8, 2026.

•6mo ago