Matador Resources — May 6, 2026 release

This Henry Hub access should reduce—substantially, if not entirely—Matador’s exposure to Waha pricing from Matador’s natural gas marketing program. Given this access to the Hugh Brinson pipeline and the Henry Hub market places, Matador estimates that it will then be able to add approximately $90 million annually in increased natural gas revenue for each $0.50 per MMBtu increase that Matador is able to achieve in its average realized natural gas price. Financial Strength and Balance Sheet Stewardship “Driven by strong cross-functional execution and a more robust financial performance, due in part to better pricing, Matador successfully deleveraged its RBL during the first quarter of 2026. We anticipate a full repayment of all RBL borrowings later this month, a milestone that increases our liquidity to $2.2 billion, based on our current elected commitment of $2.25 billion and the further potential borrowing base capacity currently of up to $3.25 billion. This strong liquidity position enables us to capitalize on a number of varied and diverse value-creating opportunities. These include possible fixed dividend increases, disciplined land acquisitions, strategic midstream opportunities, and other value optimization measures. “We appreciate enormously our 19-member bank group, led by PNC Bank, and their credit committees for their continued recognition of Matador’s asset quality and cash flow and for their ongoing support of our strategic initiatives. Furthermore, we expect that the opportunis