Matador Resources Company (MTDR) SEC Filings & Earnings Calls

Integration risk and execution of drilling plans on acquired acreage.

“Matador expects to commence drilling operations on up to 25 wells associated with Paloma acreage by year-end 2027.” · word for word

Cash consideration of $1.255B may increase leverage or reduce liquidity.

“Purchaser paid the as-adjusted closing purchase price of approximately $1.255 billion in cash.” · word for word

Key executive departure, but transition appears orderly with internal successors.

“Retirement of Co-President, but role assumed by existing Co-President and other internal promotions.”

Natural gas price exposure

“Natural gas revenues were negative $38.8M in Q2 2026 due to realized hedging losses and low prices.”

High leverage

“Total long-term debt $4.22B at June 30, 2026, with $939M drawn on Credit Agreement and $911M on San Mateo facility.”

Derivative losses

“Realized loss on derivatives $72.5M in Q2 2026 vs gain $6.9M in Q2 2025; unrealized loss $170M in H1 2026.”

Acquisition integration risk; Paloma and Ridge Runner expected to close in Q4 2026.

“once the Paloma and Ridge Runner transactions are completed, which is expected to occur in the fourth quarter of 2026” · word for word

Execution risk in integrating two large acquisitions and achieving expected synergies.

“The acquisitions are subject to customary closing conditions and expected to close early Q4 2026.”

Dividend policy subject to board discretion; future payments not guaranteed

“The payment of future dividends will be made at the discretion of the Board” · word for word

Derivative loss volatility

“For the first quarter of 2026, we reported a net loss attributable to Matador shareholders of $35.9 million, or $0.29 per diluted common share, on a GAAP basis, primarily resulting from a $255.5 million unrealized loss on derivatives.” · word for word

Commodity price exposure

“Changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and NGLs.” · word for word

Commodity price volatility could impact free cash flow and debt repayment plans.

“estimated adjusted free cash flow for the full year 2026 will be approximately $1.1 to $1.2 billion (assuming strip oil and natural gas pricing as of early May 2026)” · word for word

Operating expenses per BOE guidance increased to $31.00-$33.00 from $30.00-$31.00, indicating cost pressure.

“Total operating expenses per BOE $31.00 to $33.00 (prior $30.00 to $31.00)”

Commodity Price Exposure

“Performance goals may be impacted by a variety of factors considered by the Compensation Committee, such as the specific costs anticipated in the areas in which we plan to operate in a given year and macroeconomic factors, including commodity prices and inflation.” · word for word

Concentration in Delaware Basin

“The increase in oil and natural gas production was primarily attributable to our ongoing delineation and development drilling activities in the Delaware Basin throughout 2025” · word for word

Related Party Transactions

“Joseph Wm. Foran, Chairman and Chief Executive Officer, Shelley F. Appel, member of the Board, and certain of their affiliated entities are working interest owners and/or overriding royalty interest owners in certain properties operated by the Company.” · word for word

Debt tender offer may indicate refinancing at potentially higher rates.

“cash tender offer ... 6.875% Senior Notes due 2028”

Oil price sensitivity

“The decreases in our Standardized Measure and PV-10 were primarily a result of the lower unweighted arithmetic average oil and natural gas prices used to estimate proved reserves at December 31, 2025.” · word for word

Reserve replacement risk

“we realized approximately 7.2 million BOE in net downward revisions of prior estimates of proved reserves in 2025, which primarily included the removal of 22.8 million BOE in proved undeveloped reserves that were not developed or were no longer expected to be developed within five years of their initial booking” · word for word

Natural gas price differential risk at Waha hub; mitigated by Hugh Brinson pipeline expected in H2 2026

“significant market price difficulties for natural gas at the Waha hub in the fourth quarter of 2025; each $0.50/MMBtu increase in realized natural gas price would increase estimated annual revenue by approximately $90 million” · word for word

Loss of key executive in midstream strategy, though retained as advisor.

“retirement of Executive Vice President - Marketing and Midstream Strategy”

Oil Price Volatility

“Oil prices were lower in the third quarter of 2025, as compared to the third quarter of 2024. For the three months ended September 30, 2025, oil prices averaged $64.97 per Bbl... At October 21, 2025, the WTI oil futures contract for the earliest delivery date had decreased from the average price for the third quarter of 2025 of $64.97 per Bbl, settling at $5” · word for word

Waha Basis Differential

“The Waha-Henry Hub basis differential averaged ($2.40) per MMBtu for the nine months ended September 30, 2025. Between September 30, 2025 and October 21, 2025, this natural gas price differential remained wide at approximately ($2.51) per MMBtu.” · word for word

High Debt Levels

“Total long-term debt $3,219,554 thousand at September 30, 2025. Interest expense increased to $50.6 million for Q3 2025 from $36.2 million for Q3 2024.”