HighGravityDataMatador Resources — Aug 5, 2026 release
Fiscal 2026 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001520006-26-000036
Showing in the filing
Woodford well cost target
“$800 to $900 per completed lateral foot”
Period
FY2028
Measure
Company-defined measure
Source
Prose
All guidance in this release · 46
Oil Production, Bbl per day for FY2026
“123,000 to 125,000”
Outlook for oil for FY2026
“up to 7% year-over-year oil production growth”
Oil production growth (year-over-year) for FY2026
“7%”
Paloma acquisition estimated production for Q3 FY2026
“approximately 11,100 BOE per day (57% oil)”
Future well costs associated with the Federa…
“15% to 20% below Matador’s current drilling and completion cost per completed lateral foot average”
Well costs on adjacent assets for Q3 FY2026
“as low as $640 per completed lateral foot”
Cost per completed lateral foot estimates for FY2026
“$795 per foot”
Average 12-month cumulative oil production (…
“20% to 30% higher than Matador’s average 12-month cumulative oil production for wells turned to sales in previous years”
Rates of return on the properties being acqu…
“exceed 80% on average”
Well cost reductions (Woodford)
“30% to 40% well cost reductions”
Cost per completed lateral foot on Woodford … for FY2028
“$800 to $900 per completed lateral foot”
Woodford well cost target for FY2028
“$800 to $900 per completed lateral foot”
Adjusted free cash flow for FY2026
“approximately $900 million”
Target leverage ratio for FY2027
“1.0x”
Timing of flow on Hugh Brinson pipeline for Q3 FY2026
“by the end of the third quarter of 2026”
D/C/E capital expenditures for FY2026
“$1.48 to $1.56 billion”
Drilling, completing and equipping ("D/C/E")… for FY2026
“$1.48 to $1.56 billion”
Midstream capital expenditures for FY2026
“$145 to $165 million”
Net operated wells turned-in-line for FY2026
“112.6”
Net non-operated wells turned-in-line for FY2026
“15.9”
Natural Gas Production, MMcf per day for FY2026
“525 to 545”
Total Oil Equivalent Production, BOE per day for FY2026
“210,500 to 216,000”
Total operating expenses per BOE for FY2026
“$31.00 to $33.00”
Current income taxes (% of pretax income) for FY2026
“0% to 1%”
D/C/E CapEx for FY2026
“$1.35 to $1.44 billion”
Midstream CapEx for FY2026
“$100 to $110 million”
Total CapEx for FY2026
“$1.625 to $1.725 billion”
Midpoint of Matador’s expected 2026 production for FY2026
“221,000 BOE per day”
Organic improvement to expected production for FY2026
“3,550 BOE per day (64% oil)”
Organic oil production growth (year-over-yea… for FY2026
“6%”
Midpoint of 2026 D/C/E capital expenditure for FY2026
“$1.52 billion”
Midpoint of 2026 midstream capital expenditure for FY2026
“$155 million”
Midpoint of total capital expenditure expect… for FY2026
“$1.675 billion”
Overall costs per completed lateral foot for FY2026
“$785 to $805”
Oil production (sequential growth) for Q3 FY2026
“approximately 3% to a quarterly record of approximately 129,500 barrels per day”
Sequential oil production growth to quarterl… for Q3 FY2026
“approximately 129,500 barrels per day”
Sequential production growth for Q4 FY2026
“approximately 5% to 6%”
Paloma and Ridge Runner acquisitions product… for Q4 FY2026
“approximately 10,000 BOE per day (57% oil)”
Production contribution from Paloma and Ridg… for Q4 FY2026
“approximately 10,000 BOE per day (57% oil)”
% Oil for Q3 FY2026
“58%”
Average Daily Total Production, BOE per day for Q3 FY2026
“222,000 to 226,000”
Average Daily Oil Production, Bbl per day for Q3 FY2026
“128,500 to 130,500”
Average Daily Natural Gas Production, MMcf p… for Q3 FY2026
“561.0 to 573.0”
Net operated horizontal wells expected to tu… for Q3 FY2026
“30 to 33”
D/C/E and midstream capital expenditures for Q3 FY2026
“approximately $410 to $440 million”
Midpoint of capital expenditure for Q3 FY2026
“$425 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
While we have yet to officially add proved, undeveloped reserves from our Rae’s Creek well, early results indicate oil EUR potential could be over 800,000 barrels. Additionally, we expect 30% to 40% well cost reductions over the next 12 to 18 months, targeting $800 to $900 per completed lateral foot on Woodford wells by 2028. Financing and Debt Repayment “Matador’s acquisitions—the Federal lease sale, the Paloma acquisition and the Ridge Runner acquisition—will be funded through cash on hand and borrowings under Matador’s existing reserve-based lending (“RBL”) credit facility. The RBL balance was fully repaid in May 2026. Our supportive bank group subsequently increased the elected commitment level by $500 million, bringing the elected commitment level under the RBL to $2.75 billion. “Matador generated net cash provided by operating activities of $1.41 billion in the first half of 2026 as compared to $2.43 billion during full year 2025. During the first half of 2026, Matador generated $417 million of adjusted free cash flow, which is almost equal to the $437 million of adjusted free cash flow the Company generated during full 2 year 2025. We currently estimate adj usted free cash flow for the full year 2026 will be approximately $900 million (assuming strip oil and natural gas pricing as of late July 2026), and we will continue to prioritize the use of free cash flow for debt repayment. We expect to be at or close to our 1.0x target leverage ratio by the end of 2027, funded p
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.