First Quarter 2022 Earnings Release April 26, 2022
Matador Resources Company Overview Market Snapshot NYSE Symbol MTDR Market Capitalization(1) 6.0 billion Avg. Daily Production Q1 2022 94.0 MBOE/d DELAWARE BASIN HAYNESVILLE/ Net Debt / LTM Adj. EBITDA(2)(3) Q1 2022 0.8x 124,800…
Chairmans Remarks April 26, 2022
2022 Priorities and Milestones Free Cash Flow, SLIDE A Operational Excellence and Shareholder Returns 2022 Priorities Significant 2022 Milestones - Timeline Deliver Free Cash Flow 1 Next 11 Voni (Stateline) wells to sales Grow…
SLIDE B Strong Results for First Quarter 2022 Generated adjusted free cash flow(1) of 246 million in Q1 2022 Above Company Expectations Record Financial Oil and natural gas revenues of 627 million, Adjusted EBITDA(1) of 462 million and…
Continued Progress in All Parts of San Mateos SLIDE C Midstream Business (51% Owned by Matador) San Mateo Average Water Handling San Mateo Average Natural Gas Gathering(1) (MBbl/d) (MMcf/d) Q1 2022 up 10% sequentially; Record Quarter…
SLIDE D Revolver Borrowings Outstanding Quarterly Results Balance Paid Down to 0 in April 2022 ( in millions) 2,000 475 million repaid from end of Q3 2020 through April 2022 Fully repaid remaining 50 million in April 2022 1,500…
Maintaining Low CapEx During High Commodity Prices SLIDE E Continued Improvement in Execution and Efficiency Gains Drilling & Completion (D&C) CapEx/ft(1) Operational Improvement Spotlight: 1,750 D&C CapEx/ft 100 Remote Simul-Frac…
SLIDE F Delivering Strong Well Results All Around the Delaware Basin Matador Acreage TWIN LAKES 42,900 gross / 20,500 net acres CURRENT DELAWARE 2021 Uncle Ches Wells ARROWHEAD 2nd Bone Spring Uncle Ches 127H and 128H have…
Operational and Financial Results April 26, 2022
Q1 2022 Selected Operating and Financial Results Three Months Ended March 31, December 31, March 31, 2022 2021 2021 (1) Net Production Volumes: Oil (MBbl) 4,820 4,578 3,738 Natural gas (Bcf) 21.8 20.7 17.5 Total oil equivalent…
An Integrated E&P and Midstream Strategy: Progress in All Areas Average Daily Total Production Average Daily Total Delaware Basin Production (BOE/d) Record Quarter (BOE/d) Record Quarter Q1 2022 BOE up 8% sequentially; Q1 2022 BOE up…
Wells Completed and Turned to Sales Q1 2022 During the first quarter of 2022, Matador completed and turned to sales a total of 44 gross (26.8 net) wells in its various operating areas. This total was comprised of 26 gross (24.2 net)…
Summary and 2022 Guidance (as Provided on February 22, 2022) Actual %YoY Guidance Metric 2022 Guidance 2021 Results Change(1) Total Oil Production 17.8 million Bbl 21.0 to 22.0 million Bbl + 21% Total Natural Gas Production 81.7 Bcf…
2022 Capital Investment Plan Summary(1) (As Provided on February 22, 2022) Full Year 2022E CapEx(2) 690 to 770 million (Delaware: Added 6th operated rig in late February 2022) 2022E Wells Turned to Sales CapEx Guidance Range Gross…
2022E Operating Cost Estimates (Unit Costs per BOE) (As Provided on February 22, 2022) Matador provides the following updated estimates for its 2022 unit operating costs as shown below 2020 2021 Q1 2022 2022E Production taxes,…
Hedging Profile Remainder of 2022(1) Oil Collars Midland-Cushing Basis Swaps Natural Gas Collars 50% hedged for Q2-Q4 2022 25% hedged for Q2-Q4 2022 70-80% hedged for Q2-Q3 2022 50-55% hedged for Q4 2022 110 110 110 20.0 6.70 2,700…
San Mateo Differentiated Midstream Asset Continues to Add Value to Matador(1) 2015-2016 2017-2018 2019-2020 2021+ Initial midstream build-out San Mateo formed in San Mateo II formed in Adj. free cash flow(2) in the Delaware Basin…
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…
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…
Appendix
Increased by 48% in April 2022 Reduced to 0 at April 26, 2022 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…
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 and net cash provided by (used in)…
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 and net cash provided by (used in) operating…
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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