Fourth Quarter and Year-End 2021 Earnings Release February 22, 2022
Matador Resources Company Overview Market Snapshot NYSE Symbol MTDR Market Capitalization(1) 5.2 billion Avg. Daily Production Q4 2021 87.3 MBOE/d DELAWARE BASIN HAYNESVILLE/ Net Debt / LTM Adj. EBITDA(2)(3) Q4 2021 1.1x 124,800…
Matador is Celebrating 10 Years as a Public Company with Profitable Growth at a Measured Pace Oil Production Growth Gas Production Growth Total Production Growth (MBbl) (MMcf) (MBOE) 20,000 90,000 35,000 18,000 80,000 30,000…
Chairmans Remarks February 22, 2022
SLIDE A Successfully Achieved Objectives in 2021 Generated adjusted free cash flow(1) of 486.9 million Increased Record oil and natural gas revenues of 1.70 billion and record Adjusted EBITDA(1) of 1.05 billion Shareholder Returns…
SLIDE B Strong Results for Fourth Quarter 2021 Strong Financial Generated adjusted free cash flow(1) of 119.3 million in Q4 2021 Results and Record oil and natural gas revenues of 510.8 million and record Adjusted EBITDA(1) of 299.1…
San Mateo Differentiated Midstream Asset SLIDE C 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…
SLIDE D Revolver Borrowings Outstanding Quarterly Results Significantly Paid Down Debt in 2021 ( in millions) Letters of Credit Revolver Borrowings Outstanding 1,400 1,350 375 million repaid from end of Q3 2020 through Q4 2021…
2021 Priorities and Milestones Free Cash Flow, SLIDE E Balance Sheet Improvement and Operational Excellence 2021 Priorities Significant 2021 Milestones - Timeline 1 Deliver Free Cash Flow 1 4 Rodney Robinson wells to sales 39…
A Step Change in Capital Efficiency: SLIDE F Record Low Costs in 2021 Drilling & Completion (D&C) CapEx/ft(1) Percentage of Two-Mile Laterals (/ft) Avg. Lateral 4,700 5,700 8,800 10,500 Length +21% +54% +19% 1,528 98% -24% 74%…
Operational and Financial Results February 22, 2022
Q4 and Year-End 2021 Selected Operating and Financial Results Three Months Ended Year Ended December 31, September 30, December 31, December 31, December 31, 2021 2021 2020 2021 2020 Net Production Volumes:(1) Oil (MBbl) 4,578 4,669…
An Integrated E&P and Midstream Strategy: Progress in All Areas Total Oil and Natural Gas Production San Mateos Adjusted EBITDA(1)(2) (MBOE) ( in millions) 2021 Total Production 14% Growth YoY 2021 Adjusted EBITDA 37% Growth YoY +14%…
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) Q4 2021 BOE down 3% sequentially; Q4 2021 BOE down 2% sequentially;…
Delivering Strong Well Results All Around the Delaware Basin Matador Acreage TWIN LAKES 42,900 gross / 20,500 net acres Uncle Ches March 2021 Wells 2nd Bone Spring 127H 24-hr IP: 1,988 BOE/d (90% oil) CURRENT DELAWARE 128H 24-hr…
2021 Capital Investment Summary Full Year 2021 CapEx(1)(2) 544 million 2021 Wells Turned to Sales Guidance Range(3) Actual Gross Net Below Drilling, Completing, Equipping 535 to 565 million 513 million range Operated 47 44.2…
Wells Completed and Turned to Sales Q4 2021 During Q4 2021, Matador completed and turned to sales a total of 39 gross (9.3 net) wells in its various operating areas, including 9 gross (8.0 net) operated wells and 30 gross (1.3 net)…
Wells Completed and Turned to Sales Full Year 2021 During full year 2021, Matador completed and turned to sales 104 gross (48.2 net) wells, including 47 gross (44.2 net) operated wells and 57 gross (4.0 net) non-operated wells In 2021,…
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 Reeves Loving Ward 1 Mile Rustler Breaks Eddy Lea Natural…
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) Q4 2021 up 10% sequentially; Q4 2021 up 2%…
Hedging Profile Remainder of 2022(1) Oil Collars Midland-Cushing Basis Swaps Natural Gas Collars 25% hedged for 2022 25% hedged for 2022 60-65% hedged for Q1-Q3 2022 40-45% hedged for Q4 2022 16.0 15.6 15.6 1,380 1,380 1,380…
Committed to Environmental, Social and Governance (ESG) Stewardship Matador is committed to creating long-term value for its stakeholders in a responsible manner by pursuing sound growth and earnings objectives and exercising prudence in…
Delaware Basin Extended Lateral Well Location Inventory Matador has identified up to 4,381 gross (1,534 net) remaining potential locations(1) for future drilling on its Delaware Basin acreage Location counts assume extended lateral…
Increased by 50% in November 2021 Matador Resources and San Mateo Credit Facilities Matador Credit Agreement Summary Bank group led by Royal Bank of Canada Last Elected Borrowings Letters of Credit Financial Covenant: Facility…
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 Matador Resources Company, Consolidated The following table presents our calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net…
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) The following table presents the calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by (used in)…
Adjusted Net (Loss) Income and Adjusted Earnings (Loss) Per Diluted Common Share This presentation includes the non-GAAP financial measures of adjusted net income (loss) and adjusted earnings (loss) per diluted common share. These…
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…
PV-10 Reconciliation PV-10 is a non-GAAP financial measure and generally differs from Standardized Measure, the most directly comparable GAAP financial measure, because it does not include the effects of income taxes on future net…
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