HighGravityDataMatador Resources — Oct 22, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001520006-24-000206
Showing in the filing
Cash tax payments (% of pre-tax book net income)
“1% to 5% of pre-tax book net income”
Period
FY2024
Measure
GAAP-tied
Source
Prose
All guidance in this release · 45
Average total production for FY2025
“at least 200,000 BOE per day”
Record average production for FY2025
“at least 200,000 BOE per day”
Ameredev integration synergies
“approximately $160 million”
Additional operational synergies from Amered…
“over $1 million per month”
Proceeds from sale of Piñon Midstream 19% in… for Q4 FY2024
“between $110 million and $120 million”
Proceeds from sale of 19% interest in Piñon …
“between $110 million and $120 million”
D/C/E cost per completed lateral foot for FY2024
“between $925 and $935 per completed lateral foot”
Drilling and completion costs per completed … for FY2024
“between $925 and $935 per completed lateral foot”
U-Turn wells turned-in-line for Q4 FY2024
“five new U-Turn wells”
Marlan Processing Plant expansion capacity/t… for FY2025
“200 million cubic feet per day expansion of the Marlan Processing Plant remains on track to be operational during the first half of 2025”
Leverage ratio target for FY2025
“1.0 times or less”
Fixed quarterly dividend
“$0.25 per quarter, or $1.00 per share on an annual basis”
Quarterly dividend
“$0.25 per quarter”
Annual dividend for FY2024
“$1.00 per share”
Average total production (with oil mix) for FY2025
“exceed 200,000 BOE per day (60% oil)”
% Oil (Q4 2024E) for Q4 FY2024
“60%”
Hedged oil production for FY2025
“approximately 30% to 40%”
Timing of accelerated Firethorn/Pimento well… for FY2025
“turn to sales these additional wells in January 2025”
Net operated wells turned to sales for FY2024
“101.9”
Total production, BOE per day (New Full-Year… for FY2024
“167,500 to 172,500”
Total, BOE per day for FY2024
“167,500 to 172,500”
Oil, Bbl per day (New Full-Year 2024) for FY2024
“98,500 to 101,500”
Natural Gas, MMcf per day (New Full-Year 2024) for FY2024
“414.0 to 426.0”
D/C/E CapEx (New Full-Year 2024) for FY2024
“$1.15 to $1.35 billion”
Midstream CapEx (New Full-Year 2024) for FY2024
“$200 to $250 million”
Total CapEx (New Full-Year 2024) for FY2024
“$1.35 to $1.60 billion”
LOE for Q4 FY2024
“between $5.75 to $6.25 per BOE”
LOE (narrowed range) for FY2024
“$5.55 to $5.75 per BOE”
G&A expenses for FY2024
“between $1.80 and $2.00 per BOE”
DD&A expense for Q4 FY2024
“between $15.75 and $16.25 per BOE”
Depletion, depreciation and amortization exp… for Q4 FY2024
“between $15.75 and $16.25 per BOE”
DD&A (lowered) for FY2024
“$15.50 to $15.90 per BOE”
Average Daily Total Production, BOE per day for Q4 FY2024
“197,000 to 199,000”
Total, BOE per day (Q4 2024E) for Q4 FY2024
“197,000 to 199,000”
Average Daily Oil Production, Bbl per day (Q… for Q4 FY2024
“118,500 to 119,500”
Average Daily Natural Gas Production, MMcf p… for Q4 FY2024
“472.0 to 476.0”
Operated horizontal wells turned to sales for Q4 FY2024
“33 gross (26.9 net)”
Drilling rig count for FY2024
“nine drilling rigs”
Drilling rigs operated for FY2024
“nine”
D/C/E capital expenditures for Q4 FY2024
“approximately $205 to $305 million”
Midstream capital expenditures (Matador's pr… for Q4 FY2024
“approximately $42 to $62 million”
Proportionate share of midstream capital exp… for Q4 FY2024
“approximately $42 to $62 million”
Cash tax payments (% of pre-tax book net inc… for FY2024
“1% to 5% of pre-tax book net income”
Expected cash tax payments for FY2024
“1% to 5% of pre-tax book net income”
Corporate Alternative Minimum Tax applicabil… for FY2025
“will not be subject to the Corporate Alternative Minimum Tax”
Exhibit 99.1 · the passage around this item
… earlier in the release
Improved Estimate and Outlook for 2024 Cash Taxes Matador recognized a current tax benefit of $21.1 million during the third quarter of 2024 and is lowering its expected cash tax payments from 5% to 10% of pre-tax book net income to 1% to 5% of pre-tax book net income for the year ending December 31, 2024. This improvement is due to the additional tax deductions related to the preliminary estimate of the allocation of value acquired as part of the Ameredev acquisition. In addition, the Company anticipates that it will not be subject to the Corporate Alternative Minimum Tax in 2025 based upon estimated qualifying taxable income for 2024. Conference Call Information The Company will host a live conference call on Wednesday, October 23, 2024, at 10:00 a.m. Central Time to review its third quarter 2024 operational and financial results. To access the live conference call by phone, you can use the following link https://register.vevent.com/register/BI7913e6f5b9e94b8b9b83dc122a0d4273 and you will be provided with dial in details. To avoid delays, it is recommended that participants dial into the conference call 15 minutes ahead of the scheduled start time. 8 The live conference call will also be available through the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. The replay for the event will be available on the Company’s website at www.matadorresources.com on the Events and Presen
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.