HighGravityDataMatador Resources — May 6, 2026 release
Fiscal 2026 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001520006-26-000019
Showing in the filing
Expected elective shut-in of volumes due to weak Waha pricing
“~8,000 BOE per day (20% oil)”
Period
Q2 FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 26
Estimated adjusted free cash flow for FY2026
“approximately $1.1 to $1.2 billion”
Drilling and completion cost per completed l… for FY2026
“$805 per completed lateral foot down to $785 at the low end”
Estimated increase in natural gas revenue fo…
“approximately $90 million annually”
RBL borrowings repayment
“full repayment”
Liquidity
“$2.2 billion”
Oil production increase vs. 2025 for FY2026
“3.5% increase”
Total D/C/E and midstream CapEx reduction vs… for FY2026
“11%”
Net lateral footage turned to sales for FY2026
“~1.25 million net lateral feet”
Average Daily Oil Production, Bbl per day for Q2 FY2026
“123,000 to 125,000”
Oil Production, Bbl per day for FY2026
“123,000 to 125,000”
Total Oil Equivalent Production, BOE per day for FY2026
“210,500 to 216,000”
Total operating expenses per BOE (1) for FY2026
“$31.00 to $33.00”
Current income taxes (% of pretax income) for FY2026
“0% to 1%”
Non-cash DD&A per BOE (within total operatin… for FY2026
“$15.50 to $15.80”
Non-cash G&A expenses per BOE (within total … for FY2026
“$0.20 to $0.30”
Sequential oil production growth for Q2 FY2026
“~3% to a quarterly record of ~124,000 barrels per day”
Expected elective shut-in of volumes due to … for Q2 FY2026
“~8,000 BOE per day (20% oil)”
Expected scheduled maintenance on third-part… for Q2 FY2026
“~2,000 BOE per day (60% oil)”
Average Daily Total Production, BOE per day for Q2 FY2026
“206,000 to 212,000”
Average Daily Natural Gas Production, MMcf p… for Q2 FY2026
“498.0 to 522.0”
% Oil for Q2 FY2026
“59%”
Net operated horizontal wells expected to tu… for Q2 FY2026
“23 to 28”
D/C/E and midstream CapEx for Q2 FY2026
“approximately $430 to $460 million”
Total expected CapEx for FY2026
“$858 to $888 million”
Total expected CapEx for first half of 2026 for H1 FY2026
“$858 to $888 million”
Midpoint of CapEx for Q2 FY2026
“$445 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
Q1 2025) San Mateo Throughput Volumes Q1 2026 Q4 2025 Sequential Change Q1 2026 Q1 2025 YoY Change Natural gas gathering, MMcf per day 530 559 -5% 530 470 +13% Natural gas processing, MMcf per day 510 530 -4% 510 456 +12% Oil gathering and transportation, Bbl per day 45,700 54,100 -16% 45,700 48,800 -6% Produced water handling, Bbl per day 381,600 422,600 -10% 381,600 420,800 -9% Second Quarter 2026 Estimates Second Quarter 2026 Estimated Oil, Natural Gas and Total BOE Production Growth As noted in the table below, Matador anticipates sequential oil production growth of ~3% to a quarterly record of ~124,000 barrels per day in the second quarter of 2026, primarily as a result of the 25 net operated wells turned to sales in late February and in March. This increase is expected despite the second quarter production forecast being revised lower due to: • expected elective shut-in of volumes due to weak Waha pricing of ~8,000 BOE per day (20% oil), and • expected scheduled maintenance on third-party treatment plants of ~2,000 BOE per day (60% oil), including maintenance originally expected in the first quarter but deferred until the second quarter as noted above. Q1 and Q2 2026 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 Q1 2026 207,594 120,277 523.9 58% Q2 2026E 206,000 to 212,000 123,000 to 125,000 498.0 to 522.0 59% Second Quarter 2026 Estimated Wells Turned to Sales At May 6, 2026, Matador expects to turn to sales 23 to 28 net operated horizontal wells in the Delaware Basin during the second quarter of 2026, including Matador’s first 3.4-mile lateral wells as part of a 13-well batch drilled on our Eastern Antelope Ridge acreage, acquired from Ameredev in 2024. Second Quarter 2026 Estimated Capital Expenditures Matador expects D/C/E and midstream CapEx for the second quarter of 2026 will be approximately $430 to $460 million. Total expected CapEx of $858 to $888 million for the first half of 2026 is consistent with our expectations of 55 to 60% in the first half of 2026 due to an increased numbe
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.