HighGravityDataMatador Resources — Feb 24, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001628280-26-011137
Showing in the filing
Oil production
“122,000 to 124,000 barrels of oil per day”
Period
FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 41
Oil production growth for FY2026
“approximately 3% to 123,000 barrels of oil per day”
Total capital expenditures reduction for FY2026
“11% to $1.50 billion”
Drilling and completion cost per lateral foot for FY2026
“approximately $795 per lateral foot”
Reduction in timing to drill and complete a … for FY2026
“a 13% reduction in timing to drill and complete a well”
Hugh Brinson pipeline begin flowing gas
“third quarter of 2026”
Hugh Brinson pipeline fully in-service
“fourth quarter of 2026”
Combined midstream Adjusted EBITDA growth for FY2026
“grow 8% to $360 million”
Combined Adjusted EBITDA of midstream assets for FY2026
“$360 million”
Delaware Basin high-quality inventory target
“10 to 15 years”
Percentage of 2026 oil production hedged for FY2026
“approximately 50%”
Hedge weighted average floor price for FY2026
“approximately $53 per barrel”
Hedge weighted average ceiling price for FY2026
“approximately $66 per barrel”
Natural Gas Production for FY2026
“525.0 to 545.0 MMcf/d”
Oil Equivalent Production for FY2026
“209,500 to 215,000 BOE/d”
Total operating expenses per BOE (2) for FY2026
“$30.00 to $31.00”
Current income taxes (% of pretax income) for FY2026
“0% to 0.5%”
D/C/E CapEx for FY2026
“$1.35 to $1.44 billion”
Total D/C/E and Midstream CapEx for FY2026
“$1.45 to $1.55 billion”
Oil production for FY2026
“122,000 to 124,000 barrels of oil per day”
Natural gas production for FY2026
“525 to 545 million cubic feet of natural gas per day”
Total production for FY2026
“209,500 to 215,000 BOE per day”
% Oil for Q1 FY2026
“57%”
Average Daily Total Production, BOE per day for Q1 FY2026
“201,000 to 205,000”
Average Daily Oil Production, Bbl per day for Q1 FY2026
“115,500 to 117,500”
Average Daily Natural Gas Production, MMcf p… for Q1 FY2026
“515.0 to 525.0”
Operated wells turned to sales for Q1 FY2026
“~39 gross (34 net)”
Drilling and completion cost per lateral foo… for FY2026
“$785 to $805 per lateral foot”
Reduction in average well cycle times for FY2026
“~13%”
D/C/E CapEx reduction narrative for FY2026
“the estimated $130 million D/C/E CapEx reduction in 2026 from $1.53 billion in 2025 to $1.40 billion in 2026”
Batch development projects share of net late… for FY2026
“~50%”
Wells turned to sales on Eastern Antelope Ri… for FY2026
“13”
Average lateral length increase for FY2026
“~10%”
Increase in average lateral length for FY2026
“~10% expected increase in 2026 average lateral length as compared to 2025”
Total 2026 midstream CapEx for FY2026
“$100 to $110 million”
Matador's 51% share of San Mateo 2026 CapEx for FY2026
“$50 to $60 million”
San Mateo 2026 estimated CapEx for FY2026
“$100 to $115 million”
Other wholly-owned midstream projects 2026 C… for FY2026
“$50 to $60 million”
D/C/E and midstream CapEx front-loaded for FY2026
“55 to 60% of the full-year 2026 guidance of $1.5 billion”
Percentage of full-year 2026 CapEx front-loa… for H1 FY2026
“55 to 60%”
Total CapEx for Q1 FY2026
“~$425 million”
Shareholder returns for FY2026
“a similar amount of cash to shareholders in 2026 as in 2025”
Exhibit 99.1 · the passage around this item
… earlier in the release
(3) Includes Matador’s share of estimated CapEx for San Mateo and other wholly-owned midstream projects. Oil, Natural Gas and Oil Equivalent Production Growth and Anticipated Cadence Matador expects full-year 2026 production of 122,000 to 124,000 barrels of oil per day and 525 to 545 million cubic feet of natural gas per day, resulting in 209,500 to 215,000 BOE per day. This expectation is in-line with daily oil growth estimates provided in October 2025 of 3% improvement to full-year 2025 actual production, despite the impacts of the January winter weather discussed below. Q4 2025 and Q1 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 Q4 2025 211,290 121,363 539.6 57% Q1 2026E 201,000 to 205,000 115,500 to 117,500 515.0 to 525.0 57% Production in the first quarter is expected to be the lowest quarter for 2026 with a significant increase expected beginning in the second quarter and then further steady increases in volumes throughout the remainder of 2026. Forecasted volumes were previously expected to be consistent from the fourth quarter of 2025 to the first quarter of 2026 due to the timing of wells being turned to sales as a result of larger batch developments of longer-lateral wells. Matador expects to turn to sales ~39 gross (34 net) operated wells during the first quarter of 2026, of which only 11 net operated wel
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.