Third Quarter 2021 Earnings Release October 26, 2021
Matador Resources Company Overview Market Snapshot NYSE Symbol MTDR Market Capitalization(1) 5.2 billion Avg. Daily Production Q3 2021 90.0 MBOE/d DELAWARE BASIN Net Debt / LTM Adj. EBITDA(2)(3) Q3 2021 1.3x 120,700 net acres…
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 October 26, 2021
SLIDE A Strong Results for Third Quarter 2021 Strong Financial Generated adjusted free cash flow(1) of 147.5 million in Q3 2021 Results and Doubled Record oil and natural gas revenues of 461.5 million and record Adjusted EBITDA(1) of…
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 Adj. free cash flow(2) in the Delaware…
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 Q3 2021 Priorities Significant 2021 Milestones - Timeline 1 Deliver Free Cash Flow 1 4 Rodney Robinson wells to sales 39 Stateline asset area wells currently 2 First 13…
SLIDE E Delivering Strong Well Results All Around the Delaware Basin Matador Acreage TWIN LAKES CURRENT DELAWARE 35,100 gross / 21,600 net acres BASIN ACTIVITY Stateline: 13 new Boros wells turned to sales in Q3 2021; drilling…
A Step Change in Capital Efficiency: SLIDE F Record Low Costs in 2020 Even Lower in 2021E Drilling & Completion (D&C) CapEx/ft(1) Percentage of Two-Mile Laterals (/ft) 1,528 98% -24% 74% 1,165 TOTAL -27% FOOTAGE TOTAL 850…
Operational and Financial Results October 26, 2021
Q3 2021 Selected Operating and Financial Results Three Months Ended Year Ended September 30, June 30, September 30, 2021 2021 2020 Net Production Volumes:(1) Oil (MBbl) 4,669 4,855 3,895 Natural gas (Bcf) 21.7 21.8 16.9 Total oil…
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) Q3 2021 BOE down 3% sequentially; Q3 2021 BOE down 4% sequentially;…
Wells Turned to Sales Q3 2021 During the third quarter of 2021, Matador turned to sales a total of 21 gross (17.2 net) wells in its various operating areas. This total was comprised of 17 gross (16.5 net) operated wells and 4 gross (0.7…
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) Q3 2021 up 1% sequentially; Q3 2021 down 2%…
Hedging Profile Remainder of 2021 and 2022(1) Oil Collars, Swaps, Puts Midland-Cushing Basis Swaps Natural Gas Collars 65-70% hedged for Q4 2021 50% hedged for Q4 2021 70% hedged for Q4 2021 WTI Collars 6,000 16.0 WTI Swaps 5,520…
Full Year 2021 Guidance October 26, 2021
Summary and Updated 2021 Guidance (as Provided on October 26, 2021) Actual July 27, 2021 %YoY October 26, 2021 %YoY Guidance Metric 2020 Results 2021 Guidance(1) Change(2) 2021 Guidance Change(2) Total Oil Production 15.9 million Bbl…
2021 Oil and Natural Gas Production Estimates(1) Total Oil and Natural Gas Production 2021E CapEx(1)(2) (Midpoint): Natural Gas, Bcf 13% D/C/E: 550 MM Oil, MBbl 30,450 30,950 2021E Oil Production 10% Growth YoY Midstream(3): 40 MM…
2021 Capital Investment Plan Summary(1) Full Year 2021E CapEx(2) 570 to 610 million 2021E Wells Turned to Sales CapEx Guidance Range Gross Net Midpoint Drilling, Completing, Equipping 535 to 565 million Unchanged Operated 49 45.6…
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 Q3 2021 2021E Production taxes, transportation and processing 1…
Appendix
Investment Highlights Matador Resources Company Positioned for Continued Free Cash Flow and Differentiated Growth Generated adjusted free cash flow(1) of 147.5 million in Q3 2021 and grew total production by 14% year-over-year in 2020…
Simple Balance Sheet No Near-Term Debt Maturities REPAID 375 MILLION PAYING DOWN DEBT in borrowings since September 30, 2020 is a key objective for 2021 Q3 2021 LEVERAGE RATIO Strong, supportive bank group REDUCED TO 1.3x (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…
Delaware Basin Extended Lateral Well Location Inventory Location counts have an Matador anticipates operating Matador has identified average lateral length of 8,500 2,091 GROSS / 1,298 NET 4,359 GROSS / 1,502 NET of these…
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 provided…
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