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
Marlan Plant expansion
“expected to be online”
Period
Q2 FY2025
Measure
Company-defined measure
Source
Prose
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
In addition to the financial benefits mentioned above, this transaction also provides increased flow assurance for Matador’s production in Lea County, New Mexico and accelerates filling up the Marlan Plant to capacity. Furthermore, the construction of Pronto’s new Marlan Plant expansion remains on time and on budget and is expected to be online in the second quarter of 2025 (see Slide Q ). 2025 Outlook: Continued Record Results, Execution and Efficiencies “While we celebrate our 2024 results and accomplishments, Matador remains focused on its continued growth, profitability and increased efficiencies going forward in 2025. Accordingly, the Matador team fully expects to produce record results again in 2025. Matador aims at increasing its average daily BOE production by 20% to an average of 205,000 BOE per day in full-year 2025, as compared to an average of 170,751 BOE per day in full-year 2024. Matador also expects to increase its yearly oil production by 22% in 2025 with average daily oil production of 122,000 barrels of oil per day in full-year 2025, as compared to an average of 99,808 barrels of oil per day in full-year 2024. 2025 Additional Natural Gas Opportunity “Matador produced 496 million cubic feet of natural gas per day in 2024 but Matador’s 2025 plan remains flexible and its undeveloped acreage is sufficiently ‘gassy’ so that Matador can adjust and produce more natural gas if market conditions warrant a modification. As of December 31, 2024, Matador has 1.5 trillion cubic feet of natural gas reserves, primaril
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.