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
Reduction in timing to drill and complete a well
“a 13% reduction in timing to drill and complete a well”
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
“In this regard, Matador anticipates its 2026 drilling and completion cost to be approximately $795 per lateral foot, a 6% reduction compared to 2025, which would enable us to continue to further increase capital efficiency and decrease capital spending as planned. The expected decrease in capital spending from 2025 to 2026 is primarily attributable to anticipated operating efficiency improvements, including a 13% reduction in timing to drill and complete a well. Meanwhile, Matador expects to deliver 3% oil production growth in 2026 compared to 2025 while still turning to sales a similar amount of net lateral footage. As evidence of these asset and operating strengths, we achieved record total proved oil and natural gas reserves of 667.0 million BOE at December 31, 2025 (an increase of 9% from 611.5 million BOE at December 31, 2024), with a standardized measure of $7.0 billion and a PV-10 of $8.2 billion. The increase to our reserves—approximately 98% of which was organic in 2025—represents a reserve replacement ratio of 173%. The reserves replacement ratio was especially notable since future finding and development costs for our proved undeveloped reserves in our audited reserve report decreased 6% from $10.98 per BOE in 2024 to $10.34 per BOE in 2025. The proved reserves estimates are prepared by the Company’s internal engineering staff and audited by an independent reservoir engineering firm, Netherland, Sewell & Associates. 1 “As previously reported, Matador has secured 500 MMBtu per day of firm natural gas transportation on Energy Transfer’s new Hugh Brinson pipeline. This contractual deal with Energy Transfer is expected to be one o
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.