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Matador Resources Company (NYSE: MTDR) is a well-established, Dallas-based independent energy company specializing in the exploration, development, production, and acquisition of oil and natural gas resources across the United States. The company's primary focus lies in shale plays and other unconventional resources, with significant operations in the oil and liquids-rich areas of the Eagle Ford Shale in South Texas, and the Wolfcamp and Bone Spring plays in the Permian Basin of Southeast New Mexico and West Texas. Additionally, Matador is active in the Haynesville Shale and Cotton Valley plays in Northwest Louisiana and East Texas.
Matador Resources also holds a substantial exploratory leasehold in Southwest Wyoming and adjacent areas of Utah and Idaho, where it is currently testing the Meade Peak Shale. The company prides itself on its exceptional team of dedicated technical and administrative professionals, and a robust corporate culture emphasizing strong performance and financial discipline.
With a strategic approach to midstream opportunities that support and enhance its core exploration and development activities, Matador Resources continues to achieve significant milestones. Recent projects include the expansion of their drilling programs and the successful acquisition of new properties to augment their already impressive asset portfolio.
Financially, Matador maintains a disciplined approach, consistently working to optimize its balance sheet and deliver value to its shareholders. The company's concerted efforts in operational efficiency and cost management have positioned it as a resilient player in the energy sector.
Matador Resources Company (NYSE: MTDR) has received approximately $113 million from the sale of its 19% ownership stake in Piñon Midstream, to Enterprise Products Partners L.P. The ownership interest was initially acquired through Matador's Ameredev acquisition in September 2024. The company plans to use the proceeds to reduce its outstanding borrowings under its $2.25 billion credit facility, which currently stands at $980 million.
Matador Resources Company (NYSE: MTDR) reported record third quarter 2024 results, increased full-year 2024 guidance, and expects to produce over 200,000 BOE per day in 2025. Key highlights include:
- Record average total production of 171,480 BOE per day (100,315 barrels of oil per day)
- Net cash provided by operating activities of $610.4 million
- Adjusted free cash flow of $196.1 million
- Net income of $248.3 million, or $1.99 per diluted common share
- Adjusted EBITDA of $574.5 million
The company successfully closed its largest acquisition to date, integrating Ameredev assets. Matador increased its full-year 2024 guidance for production and capital expenditures. The company expects to produce over 200,000 BOE per day in 2025 and maintains a strong balance sheet with over $1.25 billion in liquidity as of September 30, 2024.
Matador Resources Company (NYSE: MTDR) has announced a significant increase in its quarterly cash dividend. The Board of Directors has revised the company's dividend policy, increasing the quarterly dividend by 25% from $0.20 to $0.25 per share. This change will take effect in the fourth quarter of 2024, resulting in an annual dividend of $1.00 per share.
The first payment under this new policy is scheduled for December 6, 2024, with a record date of November 15, 2024. This marks the fifth increase in Matador's quarterly cash dividend in the past four years, reflecting the company's commitment to shareholder value and its growing financial strength.
Matador Resources Company (NYSE: MTDR) has announced the release date for its third quarter 2024 operational and financial results. The company will disclose these results after the close of trading on Tuesday, October 22, 2024. Following this, management will host a live conference call on Wednesday, October 23, 2024, at 10:00 a.m. Central Time to review the financial results and operational highlights.
Interested parties can access the live conference call via phone using a provided registration link. To ensure a smooth experience, participants are advised to dial in 15 minutes before the scheduled start time. The call will also be accessible through Matador's website. A replay of the event will be available on the company's website for one year.
Matador Resources Company (NYSE: MTDR) has successfully closed its $750 million private offering of 6.250% senior unsecured notes due 2033. The proceeds will be used to repay borrowings under the company's credit facility, making the offering debt neutral. This follows the recent closing of the $1.832 billion Ameredev acquisition, the largest in Matador's history.
The company achieved a production milestone of over 200,000 barrels of oil and natural gas equivalent per day shortly after the acquisition. Matador expects its debt-to-EBITDA ratio to be between 1.3 and 1.4 times as of September 30, 2024, with plans to reduce it to 1.0 times or less by mid-2025.
Operationally, Matador is focusing on integrating Ameredev's assets, deploying one drilling rig immediately and planning to turn 11 wells to sales in the first half of 2025. The company continues to innovate with 'U-Turn' well developments and trimul-frac completion operations, expecting significant cost savings and operational efficiencies.
Matador Resources Company (NYSE: MTDR) has priced a private offering of $750 million of 6.250% senior unsecured notes due 2033 at 100% of their face value. The offering is expected to close on September 25, 2024, subject to customary closing conditions. Matador plans to use the net proceeds to repay borrowings outstanding under its credit facility, including all of the $250 million in outstanding borrowings under its term loan.
The Notes and related guarantees have not been registered under the Securities Act of 1933 and may not be offered, transferred, or sold in the United States without registration or an applicable exemption. The Notes may be resold by the initial purchasers to qualified institutional buyers and non-U.S. persons outside the United States pursuant to Rule 144A and Regulation S, respectively.
Matador Resources Company (NYSE: MTDR) has announced its intention to offer $750 million of senior unsecured notes due 2033 in a private placement to eligible purchasers, subject to market conditions. The company plans to use the net proceeds from this offering to repay borrowings outstanding under its credit facility, including all of the $250 million in outstanding borrowings under its term loan.
The Notes and related guarantees have not been registered under the Securities Act of 1933 and may not be offered, transferred, or sold in the United States without registration or an applicable exemption. The Notes may be resold by initial purchasers to qualified institutional buyers and non-U.S. persons outside the United States under specific regulations.
Matador Resources Company (NYSE: MTDR) has closed its strategic bolt-on acquisition of Ameredev for $1.832 billion. The acquisition includes:
- 33,500 contiguous net acres in the Delaware Basin
- Expected production of 25,500-26,500 BOE per day
- 431 gross operated locations
- 118 million BOE of proved reserves
- 19% equity interest in Piñon Midstream's parent company
This acquisition expands Matador's Delaware Basin acreage to over 190,000 net acres, increases production to over 180,000 BOE per day, and boosts proved reserves to over 600 million BOE. The company expects to implement operational efficiencies, resulting in synergies of approximately $160 million over five years.
Matador Resources Company (NYSE: MTDR) reported record financial and operational results for Q2 2024. Highlights include a record average total production of 160,305 BOE per day and a net income of $228.8 million ($1.83 per diluted share). Adjusted net income stood at $255.9 million ($2.05 per diluted share), with an adjusted EBITDA of $578.1 million.
Effective July 23, 2024, Matador increased its full-year 2024 guidance for total production, oil production, and natural gas production by 3.2%, 2.2%, and 4.8%, respectively. This updated guidance excludes potential production from the anticipated $1.905 billion acquisition of Ameredev II Parent, expected to close in Q3 2024.
Matador achieved operational efficiencies, setting 20 drilling records and saving $6 million. Notably, D/C/E capital expenditures were $314.5 million, 8% below expectations. The company also initiated its first 'trimul-frac' completion, projecting $350,000 savings per well. Matador aims to turn 32 new wells to sales in Q3 2024 and forecasts 164,000 BOE per day production for the quarter.
Matador Resources Company (NYSE: MTDR) has announced a quarterly cash dividend of $0.20 per share of common stock. The dividend will be payable on September 5, 2024 to shareholders of record as of August 15, 2024. This declaration by Matador's Board of Directors demonstrates the company's commitment to returning value to its shareholders through regular dividend payments.
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