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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) reported strong Q3 2022 results, exceeding production expectations with over 105,000 BOE per day, a 50% increase from Q3 2020. The company has halved its debt to $750 million, resulting in upgraded credit ratings across agencies. The quarterly dividend has doubled to $0.40 per share for shareholders of record by November 10, 2022. However, net income fell 19% sequentially to $337.6 million due to lower commodity prices, despite a significant year-over-year increase of 66%. The Q3 adjusted EBITDA also saw a 19% decrease sequentially.
Matador Resources Company (NYSE: MTDR) has declared a quarterly cash dividend of $0.10 per share, payable on December 1, 2022, to shareholders of record as of November 10, 2022. This dividend reflects the company's ongoing commitment to returning value to shareholders. Matador operates primarily in the oil-rich Delaware Basin, focusing on the Wolfcamp and Bone Spring plays, while also engaging in midstream operations including oil transportation and natural gas processing.
Matador Resources Company (NYSE: MTDR) will announce its third quarter 2022 operational and financial results on October 25, 2022, after market close. A live conference call is scheduled for October 26, 2022, at 9:00 a.m. Central Time for a review of these results. Participants can access the call via a link provided in the release or through the company's website. A replay will be available for one year. Matador specializes in the exploration and production of oil and natural gas in the United States, focusing on regions such as the Delaware Basin and Eagle Ford shale.
Matador Resources Company (NYSE: MTDR) has announced its Long-Term Issuer Default Rating (IDR) upgrade from 'B+' to 'BB-' by Fitch Ratings, reflecting improved production growth and significant debt reduction. Additionally, the company repurchased $105 million of its senior notes, reducing total outstanding debt from $862 million to $757 million. These actions underscore Matador's commitment to enhancing shareholder value and maintaining a strong financial position as it prepares to share Q3 results later this month.
Matador Resources Company (NYSE: MTDR) announced an upgrade in its corporate credit rating by S&P Global Ratings on September 19, 2022, from 'B+' to 'BB-'. This upgrade signifies Matador's strong credit measures, bolstered by its commitment to debt repayment and conservative financial policies. The company's outstanding debt has decreased by $663 million, or about 44%, since Q3 2020, with production rising over 50% to nearly 111,000 barrels of oil and gas equivalent per day. CEO Joseph Wm. Foran highlighted that these improvements reflect Matador's operational strength and financial resilience.
Matador Resources Company (NYSE: MTDR) experienced a significant upgrade from Moody's Investors Service, which raised its corporate family rating from 'B1' to 'Ba3' and its senior unsecured notes from 'B2' to 'B1'. This upgrade, noted on September 9, 2022, is attributed to improved operational execution, reduced debt levels, and increased free cash flow. Additionally, Matador repurchased $30 million of its senior notes, decreasing total outstanding debt from $892 million to $862 million.
Matador Resources Company (NYSE: MTDR) reported record financial and operational results for Q2 2022, achieving all-time highs with revenues of $893 million and net income of $416 million. Production increased 18% sequentially to over 110,000 BOE per day. The company successfully reduced its debt by $158 million, leading to a leverage ratio of 0.5x. Matador doubled its annual cash dividend to $0.40 per share, reflecting confidence in future growth. Despite strong performance, production guidance remained modest due to divestitures and completion activities requiring shut-ins.
Matador Resources Company (NYSE: MTDR) has declared a quarterly cash dividend of $0.10 per share, payable on September 1, 2022, to shareholders of record as of August 17, 2022. This marks a significant increase from the previous dividend of $0.05 per share, effectively doubling returns for shareholders. The announcement aligns with the company's amended dividend policy from June 10, 2022, showcasing Matador's commitment to enhancing shareholder value through increased cash distributions.
Matador Resources Company (NYSE: MTDR) plans to release its second quarter 2022 operational and financial results after trading on July 26, 2022. The management will host a conference call on July 27, 2022 at 9:00 a.m. Central Time to discuss the results and operational highlights. Interested participants can access the call via a provided link and the company's website. The replay will be available for one year.
Matador focuses on oil and natural gas exploration and production in the United States, primarily in the Delaware Basin and Eagle Ford shale.
Matador Resources Company (NYSE: MTDR) has announced an amendment to its dividend policy, increasing the quarterly cash dividend to
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