HighGravityDataMatador Resources — Feb 18, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001520006-25-000032
Showing in the filing
Total D/C/E and Midstream CapEx
“$1.40 to $1.65 billion”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 40
Annual dividend rate for FY2024
“$1.25 annually, or $0.3125 per quarter”
Dividend policy
“$1.25 annually, or $0.3125 per quarter”
Quarterly cash dividend for FY2025
“$0.3125 per share of common stock”
Quarterly cash dividend
“$0.3125 per share”
Adjusted free cash flow for FY2025
“approach $1 billion”
Additional drilling and completion cost syne…
“over $150 million”
Marlan Plant expansion for Q2 FY2025
“expected to be online”
Average daily BOE production for FY2025
“205,000 BOE per day”
Average daily oil production for FY2025
“122,000 barrels of oil per day”
San Mateo Adjusted EBITDA for FY2025
“$285 million”
San Mateo natural gas processing capacity for Q2 FY2025
“720 million cubic feet per day”
Oil production for FY2025
“120,000 to 124,000 barrels per day”
Natural gas production for FY2025
“492.0 to 504.0 million cubic feet per day”
Total production for FY2025
“202,000 to 208,000 BOE per day”
Drilling, completing and equipping capital e… for FY2025
“$1.28 to $1.47 billion”
Midstream capital expenditures for FY2025
“$120 to $180 million”
% Oil for Q1 FY2025
“59%”
Natural Gas Production for FY2025
“492.0 to 504.0 MMcf/d”
Oil Equivalent Production for FY2025
“202,000 to 208,000 BOE/d”
Midstream CapEx (6) for FY2025
“$120 to $180 million”
Total D/C/E and Midstream CapEx for FY2025
“$1.40 to $1.65 billion”
Total capital expenditures for FY2025
“$1.53 billion”
Operated (D/C/E CapEx) for FY2025
“$1.16 to $1.32 billion”
Non-Operated (D/C/E CapEx) for FY2025
“$70 to $90 million”
Capitalized G&A and Interest (D/C/E CapEx) for FY2025
“$50 to $60 million”
Total D/C/E CapEx for FY2025
“$1.28 to $1.47 billion”
Artificial lift and other production-related… for FY2025
“$60 to $70 million”
Drilling and completion costs per completed … for FY2025
“between $865 to $895 per completed lateral foot”
Simul-Frac and Trimul-Frac operations share … for FY2025
“over 80%”
Trimul-Frac share of anticipated completions for FY2025
“approximately 35%”
Matador's 51% share of San Mateo capital exp… for FY2025
“$90 to $130 million”
San Mateo estimated capital expenditures (10… for FY2025
“approximately $176 to $255 million”
Other wholly-owned midstream projects capita… for FY2025
“$30 to $50 million”
Average Daily Total Production, BOE per day … for Q1 FY2025
“195,000 to 197,000”
Average Daily Oil Production, Bbl per day (Q… for Q1 FY2025
“114,000 to 115,000”
Average Daily Natural Gas Production, MMcf p… for Q1 FY2025
“486.0 to 492.0”
Operated wells turned to sales for Q1 FY2025
“between 35 and 40”
D/C/E capital expenditures for Q1 FY2025
“approximately $340 to $400 million”
Proportionate share of midstream capital exp… for Q1 FY2025
“approximately $65 to $95 million”
Cash tax payments (% of pre-tax book net inc… for FY2025
“approximately 5 to 10%”
Exhibit 99.1 · the passage around this item
… earlier in the release
Guidance Metric Actual 2024 Results 2025 Guidance Range % YoY Change (1) Oil Production 99,808 Bbl/d (2) 120,000 to 124,000 Bbl/d +22% Natural Gas Production 425.7 MMcf/d (3) 492.0 to 504.0 MMcf/d +17% Oil Equivalent Production 170,751 BOE/d (4) 202,000 to 208,000 BOE/d +20% D/C/E CapEx (5) $1.32 billion $1.28 to $1.47 billion +4% Midstream CapEx (6) $238.7 million $120 to $180 million (37) % Total D/C/E and Midstream CapEx $1.56 billion $1.40 to $1.65 billion (2) % (1) Represents percentage change from 2024 actual results to the midpoint of 2025 guidance range. (2) One barrel of oil per day. (3) One million cubic feet of natural gas per day. (4) One barrel of oil equivalent per day, estimated using a conversion factor of one barrel of oil per six thousand standard cubic feet of natural gas. (5) Capital expenditures associated with drilling, completing and equipping wells. (6) Includes Matador’s share of estimated capital expenditures for San Mateo and other wholly-owned midstream projects. Pronto was wholly-owned by Matador until December 18, 2024, the date Pronto was contributed to San Mateo in the Pronto Transaction. Excludes the acquisition cost of Ameredev’s midstream assets in 2024. The full year 2025 guidance estimates presented in the table above are based upon the following key assumptions for 2025 drilling and completions activity and capital expenditures. • Matador began 2024 operating seven drilling rigs in the Delaware Basin and added an eighth operated drilling rig in late January 2024 and a ninth operated drilling rig in the middle of 2024. The 2% decrease in total capital expenditures from $1.56 billion in 2024 to $1.53
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.