Matador Resources Company
Q1 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +8.13%.
Did MTDR Beat Earnings? Q1 2025 Results
Matador Resources kicked off 2025 with a convincingly strong first quarter, posting earnings per share of $1.99 against a consensus estimate of $1.78, a beat of 11.58%, while revenue of $1.01 billion cleared expectations of $956.57 million by 6.00% and surged 29.1% year-over-year. The primary engine behind the results was a 33% jump in total production to 198,631 BOE per day, driven by an aggressive well-completion cadence that included 40 gross operated wells turned to sales, among them the company's first three-mile lateral wells. Net income attributable to shareholders rose 24% year-over-year to $240.09 million, with Adjusted EBITDA climbing 27% to $644.22 million. Looking ahead, Matador trimmed its full-year production outlook modestly to approximately 200,000 BOE per day and cut $100 million from its capital expenditure budget in response to commodity price softness, while projecting record output of roughly 207,000 BOE per day in Q2 2025; the company also authorized a $400 million share repurchase program, signaling confidence in its $1.80 billion liquidity position.
- 33% YoY increase in total production to 198,631 BOE per day
- 36% YoY increase in oil production to 115,030 barrels per day
- 40 gross operated wells turned to sales versus 12 in Q1 2024
- 3% reduction in drilling and completion costs to $880 per completed lateral foot
- Natural gas price realization increased 20% YoY to $3.56 per Mcf
- Outperformance of wells turned to sales in Q4 2024
- Successful integration of Ameredev assets with 11 wells averaging 1,450 BOE per day IP rates
“Matador is pleased to report another profitable quarter that exceeded our expectations. During Matador's 40-year history, we have faced a number of turbulent times with regards to oil and natural gas prices and other outside difficulties. It has been during these times that Matador has relied upon its operational expertise and its financial strength and the long-term nature of its assets to make some of its most significant progress and growth.”
Matador Resources CEO, on the earnings call
Forward Guidance & Outlook
Matador updated its full-year 2025 guidance, now expecting total production of approximately 200,000 BOE per day (198,000-202,000 range), a 17% increase over 2024 but a 2% reduction from prior guidance. Oil production is expected at 117,000-119,000 Bbl per day and natural gas at 486.0-498.0 MMcf per day. D/C/E capital expenditures were reduced by $100 million to $1.18-$1.37 billion, while total capex is now guided to $1.30-$1.55 billion. For Q2 2025, Matador expects record production of approximately 207,000 BOE per day including 122,000 barrels of oil per day. The company plans to reduce from nine to eight drilling rigs by mid-2025 while retaining flexibility to add or drop rigs depending on market conditions. The Marlan processing plant expansion is expected to be operational in Q2 2025, increasing San Mateo's natural gas processing capacity to 720 MMcf per day.
MTDR YoY Financials
MTDR Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.