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
Average Daily Oil Production, Bbl per day (Q1 2025E)
“114,000 to 115,000”
Period
Q1 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
Q4 2024 and Q1 2025 Production Comparison Period Average Daily Total Production, BOE per day Average Daily Oil Production, Bbl per day Average Daily Natural Gas Production, MMcf per day % Oil Q4 2024 201,116 118,440 496.1 59% Q1 2025E 195,000 to 197,000 114,000 to 115,000 486.0 to 492.0 59% The decline in production from the fourth quarter of 2024 to the first quarter of 2025 is due to the lumpiness of production as a result of the timing of wells being turned to sales. Matador expects to turn to sales between 35 and 40 operated wells during the first quarter of 2025, of which only two operated wells had been turned to sales in the first half of the quarter. The remaining 33 to 38 wells are expected to be turned to sales in the latter half of the first quarter of 2025, which will primarily contribute to production beginning in the second quarter of 2025. Among the wells expected to be turned to sales in the first quarter of 2025 are the first three-mile lateral wells drilled by Matador. First Quarter 2025 Estimated Capital Expenditures At February 18, 2025, Matador expects D/C/E capital expenditures for the first quarter of 2025 will be approximately $340 to $400 million, which is a 14% increase as compared to $325 million for the fourth quarter of 2024, primarily due to an increased number of completions and increased non-operated capital expenditures. Matador expects its proportionate share of midstream capital expenditures to be approximately $6
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.