Matador Resources Co SEC 10-Q Report

Matador Resources Co, a leading independent energy company engaged in the exploration, development, production, and acquisition of oil and natural gas resources, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial and operational performance, reflecting both achievements and challenges faced during the period.

Financial Highlights

• Total Revenues: $939.0 million, increased by 5% compared to the same period in 2024, driven by higher oil and natural gas production.
• Operating Income: $306.0 million, decreased from $392.1 million in the same period in 2024, reflecting higher expenses.
• Net Income: $200.6 million, decreased from $272.7 million in the same period in 2024, impacted by increased depletion, depreciation, and amortization expenses.
• Net Income attributable to Matador Resources Company shareholders: $176.4 million, decreased from $248.3 million in the same period in 2024.
• Diluted EPS: $1.42, decreased from $1.99 in the same period in 2024, reflecting lower net income.

Business Highlights

• Sales Units: For the three months ended September 30, 2025, the company reported total oil equivalent production of 19.2 million BOE, with an average daily oil equivalent production of 209,184 BOE per day. This included 119,556 Bbl per day of oil and 537.8 MMcf per day of natural gas.
• Sales Units: The company's average daily oil production increased by 19% year-over-year, reaching 119,556 Bbl per day for the three months ended September 30, 2025, compared to 100,315 Bbl per day for the same period in 2024.
• Sales Units: Average daily natural gas production increased by 26% year-over-year, reaching 537.8 MMcf per day for the three months ended September 30, 2025, compared to 427.0 MMcf per day for the same period in 2024.
• Geographical Performance: The Delaware Basin contributed 100% of the company's daily oil production and approximately 94% of its daily natural gas production in the third quarter of 2025, compared to approximately 99% and 95%, respectively, in the third quarter of 2024.
• Revenue Segments: Third-party midstream services revenues increased by 14% to $43.8 million for the three months ended September 30, 2025, driven by higher natural gas gathering and processing revenues and increased oil transportation revenues.
• New Production Launches: The company completed the Marlan Processing Plant Expansion, which includes a natural gas processing plant with a designed inlet capacity of 200 MMcf per day, including a nitrogen rejection unit and additional related facilities, coming online in the second quarter of 2025.
• Future Outlook: The company increased its estimated drilling, completing, and equipping capital expenditures for 2025 to a range of $1.47 to $1.55 billion and adjusted its estimated midstream capital expenditures to a range of $155.0 to $175.0 million.
• Future Outlook: The Board amended the company's dividend policy to increase the quarterly dividend to $0.375 per share of common stock for future payments, reflecting confidence in the company's operational performance and cash flow generation.

SEC Filing: Matador Resources Co [ MTDR ] - 10-Q - Oct. 24, 2025