Second Quarter 2021 Earnings Release July 27, 2021
Matador Resources Company Overview Market Snapshot NYSE Symbol MTDR Market Capitalization(1) 3.7 billion Avg. Daily Production Q2 2021 93.2 MBOE/d DELAWARE BASIN HAYNESVILLE/ Net Debt / LTM Adj. EBITDA(2)(3) Q2 2021 1.8x 120,700…
Matadors Significant Officer % Ownership vs. Peer Group Interests Aligned with Shareholders Joseph Wm. Foran Matthew V. Hairford David E. Lancaster Craig N. Adams Billy E. Goodwin Founder, Chairman President and EVP and CFO EVP and…
Chairmans Remarks July 27, 2021
SLIDE A Record Results for Second Quarter 2021 Record Generated adjusted free cash flow(1) of 156.3 million in Q2 2021 Above Company Expectations Adj. EBITDA & Adj. Matador received 16.3 million in incentive payments from Five Point…
San Mateo Differentiated Midstream Asset SLIDE B Continues to Add Value to Matador(1) 2015-2016 2017-2018 2019-2020 2021+ Initial midstream build-out San Mateo I formed in San Mateo II formed in Free cash flow generation in the…
Revolver Borrowings Outstanding Quarterly Results SLIDE C Paying Down Debt Remains a Key Objective in 2021 ( in millions) Letters of Credit 1,000 Revolver Borrowings Outstanding 900 Borrowing Base 900 800 200 million Elected…
SLIDE D 2021 Priorities and Milestones Executing Well Through H1 2021 Priorities Significant 2021 Milestones - Timeline 1 Deliver Free Cash Flow 1 4 Rodney Robinson wells to sales Added fourth rig in March 2021 2 First 13 Voni…
A Step Change in Capital Efficiency: SLIDE E Record Low Costs in 2020 Even Lower in 2021E Drilling & Completion (D&C) CapEx/ft(1) Percentage of Two-Mile Laterals (/ft) Avg. Lateral 4,700 5,700 8,800 10,400 Length +21% +54% +18%…
Summary and Updated 2021 Guidance SLIDE F (as Provided on July 27, 2021) Actual February 23, 2021 %YoY July 27, 2021 %YoY Guidance Metric 2020 Results 2021 Guidance(1) Change(2) 2021 Guidance Change(2) Total Oil Production 15.9…
Operational and Financial Results July 27, 2021
Q2 2021 Selected Operating and Financial Results Three Months Ended June 30, March 31, June 30, 2021 2021 2020 Net Production Volumes:(1) Oil (MBbl) 4,855 3,738 3,920 Natural gas (Bcf) 21.8 17.5 16.5 Total oil equivalent (MBOE)…
An Integrated E&P and Midstream Strategy: Progress in All Areas Average Daily Total Production Average Daily Total Delaware Basin Production (BOE/d) (BOE/d) Q2 2021 BOE up 26% sequentially; Record Quarter Record Quarter Q2 2021 BOE up…
Delivering Strong Well Results All Around the Delaware Basin Matador Acreage TWIN LAKES 35,100 gross / 21,600 net acres CURRENT DELAWARE BASIN ACTIVITY Stateline: Two rigs currently drilling 11 ARROWHEAD RANGER 65,200 gross /…
Wells Turned to Sales Q2 2021 During the second quarter of 2021, Matador turned to sales a total of 28 gross (15.6 net) wells in its various operating areas. This total was comprised of 15 gross (14.6 net) operated wells and 13 gross…
San Mateo(1) Assets and Operations Three-Pipe Offering Eddy County, NM Assets Loving County, TX Assets 1 Mile Greater Stebbins Area Wolf Loving 43 miles Natural Gas and Oil Pipelines IN SERVICE Reeves Loving Ward 1…
Continued Progress in All Parts of San Mateos Midstream Business (51% Owned by Matador) San Mateo Average Water Handling San Mateo Average Natural Gas Gathering(1) (MBbl/d) (MMcf/d) Q2 2021 up 21% sequentially; Q2 2021 up 32%…
Hedging Profile Remainder of 2021 and 2022(1) Oil Collars, Swaps, Puts Midland-Cushing Basis Swaps Natural Gas Collars 65% hedged for Q3-Q4 2021 50% hedged for Q3-Q4 2021 50-55% hedged for Q3 2021 70-75% hedged for Q4 2021 WTI…
Full Year 2021 Guidance July 27, 2021
2021 Capital Investment Plan Summary(1) Full Year 2021E CapEx(2) 560 to 620 million 2021E Wells Turned to Sales CapEx Guidance Range Gross Net No Drilling, Completing, Equipping 525 to 575 million change Operated 49 45.6 Operated…
2021 Production and D/C/E Capital Expenditure Guidance Affirmed Despite production deferments to 2022 from non-operated activity and accelerated Voni completions, Matador affirmed full year 2021 production and D/C/E CapEx guidance on…
2021E Operating Cost Estimates (Unit Costs per BOE) Matador provides the following updated estimates for its 2021 unit operating costs as shown below 2020 Q1 2021 Q2 2021 2021E 1 Production taxes, transportation and processing 3.39…
Appendix
Investment Highlights Matador Resources Company Positioned for Continued Free Cash Flow and Differentiated Growth Generated adjusted free cash flow(1) of 156.3 million in Q2 2021 and grew total production by 14% year-over-year in 2020…
Simple Balance Sheet No Near-Term Debt Maturities REPAID 235 MILLION PAYING DOWN DEBT in borrowings in Q4 2020 and H1 2021 is a key objective for 2021 Q2 2021 LEVERAGE RATIO Strong, supportive bank group REDUCED TO 1.8x(1)(2)…
Increased June 2021 Matador Resources and San Mateo Credit Facilities Matador Credit Agreement Summary Bank group led by Royal Bank of Canada Elected Borrowings Letters of Credit Financial Covenant: Maturity Borrowing Last…
Adjusted EBITDA & Adjusted Free Cash Flow Reconciliations Adjusted EBITDA Reconciliation This presentation includes the non-GAAP financial measure of Adjusted EBITDA. Adjusted EBITDA is a supplemental non-GAAP financial measure that is…
Adjusted EBITDA Reconciliation Matador Resources Company The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided…
Adjusted EBITDA Reconciliation San Mateo(1) (100%) The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by…
Adjusted EBITDA Reconciliation San Mateo(1) (100%) The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by…
Adjusted Net Income and Adjusted Earnings Per Diluted Common Share This presentation includes the non-GAAP financial measures of adjusted net income and adjusted earnings per diluted common share. These non-GAAP items are measured as net…
Adjusted Free Cash Flow Reconciliation Matador Resources Company The following table presents the calculation of adjusted free cash flow and the reconciliation of adjusted free cash flow to the GAAP financial measure of net cash…
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