Matador reports higher Q2 income, revenue and cash flow
Matador Resources posted Q2 net income attributable to shareholders of $390.7 million, swinging from a loss in Q1; oil and natural gas revenue rose 33% year over year to $1.09 billion.
Adjusted EBITDA climbed 31% year over year to $781 million; adjusted free cash flow rose to $303.2 million from $113.3 million in Q1.
Output rose 3% year over year to 215,631 BOE/d, including record oil production of 126,106 bbl/d; realized oil price rose 53% year over year to $98.16/bbl.
Full-year production guidance increased to 218,500-223,500 BOE/d; total CapEx outlook lifted to $1.63-1.73 billion.
San Mateo closed the Cardinal Midstream acquisition on July 31; Paloma Permian and Ridge Runner deals are expected to close in Q4.
MTDR•
