Matador Resources Company (MTDR) Bundle
An Overview of Matador Resources Company (MTDR)
General Summary of Matador Resources Company
Matador Resources Company (NYSE: MTDR), founded in 2003, is a rapidly growing independent energy company focused on the exploration, development, and production of oil and natural gas resources. The company primarily operates in the Delaware Basin, a significant area for oil and gas production in the United States. As of 2024, Matador has expanded its operations and now holds approximately 196,200 net acres in this region.
Matador's product offerings include crude oil, natural gas, and natural gas liquids, supported by a robust midstream infrastructure that enhances its operational efficiency. In 2024, the company's total sales reached approximately $2.25 billion, driven by increased production and higher oil prices.
Company's Financial Performance in the Latest Financial Reports
For the nine months ended September 30, 2024, Matador Resources reported a net income attributable to shareholders of $670.8 million, or $5.44 per diluted common share, compared to $591.5 million, or $4.93 per diluted common share for the same period in 2023. The company's Adjusted EBITDA increased to $1.66 billion from $1.30 billion year-over-year.
In the third quarter of 2024, Matador's total oil equivalent production reached 15.8 million BOE, averaging 171,480 BOE per day. This production included an average of 100,315 barrels of oil per day, a 29% increase compared to 77,529 barrels per day in the third quarter of 2023.
The increase in production has been attributed to the company's strategic acquisitions and operational enhancements. The Ameredev Acquisition, completed in September 2024, was a significant contributor, with a closing purchase price of approximately $1.831 billion.
Financial highlights from the latest reports include:
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Net Income Attributable to Shareholders | $248.3 million | $263.7 million | -5.4% |
| Adjusted EBITDA | $574.5 million | $508.3 million | 12.97% |
| Average Daily Oil Production | 100,315 Bbl/day | 77,529 Bbl/day | 29% |
| Total Oil Equivalent Production | 15.8 million BOE | 12.3 million BOE | 28.5% |
Matador Resources as a Leader in the Industry
Matador Resources Company is recognized as a leading player in the oil and natural gas industry, particularly within the Delaware Basin. The company's strategic focus on efficient operations and growth through acquisitions has positioned it well in a competitive market. With a strong production profile and a robust financial performance, Matador continues to attract investor interest and expand its market presence.
As of 2024, Matador's operational strategy includes enhancing its drilling capabilities and optimizing its midstream services, ensuring it remains at the forefront of the industry. Investors and stakeholders are encouraged to explore further insights into Matador's operational successes and strategic initiatives to understand the factors contributing to its ongoing growth and leadership in the sector.
Mission Statement of Matador Resources Company (MTDR)
Mission Statement of Matador Resources Company (MTDR)
Matador Resources Company (MTDR) is dedicated to achieving operational excellence in the exploration, development, and production of oil and natural gas resources. The company's mission statement emphasizes its commitment to delivering high-quality products and services while fostering sustainable practices and creating value for its stakeholders. This mission serves as a guiding framework for the company's long-term strategic goals and operational decisions.
Core Component 1: Operational Excellence
Operational excellence is a key pillar of Matador's mission. The company focuses on maximizing production efficiency through advanced technologies and optimized drilling techniques. For example, Matador's average daily oil equivalent production for the third quarter of 2024 was 171,480 BOE, which includes 100,315 Bbl of oil and 427.0 MMcf of natural gas . This reflects a significant year-over-year increase in production, highlighting the effectiveness of their operational strategies.
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Average Daily Oil Production (Bbl) | 100,315 | 77,529 | +29% |
| Average Daily Natural Gas Production (MMcf) | 427.0 | 345.4 | +24% |
| Total Oil Equivalent Production (BOE) | 15.8 million | N/A | N/A |
Core Component 2: Commitment to Sustainability
Matador Resources Company prioritizes sustainability in its operations, striving to minimize environmental impacts while maximizing resource extraction. The company has made significant investments in midstream operations, which enhance its ability to process and transport natural gas efficiently. As of September 30, 2024, Matador's midstream system included a cryogenic natural gas processing plant with a designed inlet processing capacity of 60 MMcf per day . This commitment to sustainability is reflected in their efforts to utilize advanced technologies that reduce emissions and optimize resource use.
Core Component 3: Value Creation for Stakeholders
Creating value for stakeholders is integral to Matador's mission. The company aims to enhance shareholder returns while also considering the interests of employees, customers, and the communities in which they operate. For the nine months ended September 30, 2024, Matador reported net income attributable to shareholders of $670.8 million, or $5.44 per diluted common share, representing a year-over-year increase from $591.5 million . This financial performance underscores Matador's focus on generating strong returns for its shareholders while maintaining a robust operational framework.
| Financial Metric | 9M 2024 | 9M 2023 | Change (%) |
|---|---|---|---|
| Net Income (in millions) | 670.8 | 591.5 | +13.3% |
| Earnings per Share (EPS) | $5.44 | $4.93 | +10.4% |
| Adjusted EBITDA (in millions) | 1,657.9 | 1,296.8 | +28% |
Vision Statement of Matador Resources Company (MTDR)
Vision Statement Overview
The vision statement of Matador Resources Company (MTDR) for 2024 emphasizes sustainable growth, operational excellence, and strategic expansion in the energy sector. The company aims to position itself as a leader in the exploration and production of oil and natural gas while maintaining a strong focus on environmental stewardship and community engagement.
Commitment to Sustainable Energy Production
Matador Resources is committed to sustainable energy practices, seeking to balance energy production with environmental responsibility. The company's operations are primarily focused in the Delaware Basin, where it has implemented advanced technologies to optimize resource extraction while minimizing ecological impact.
Operational Excellence and Efficiency
In 2024, Matador Resources has achieved notable operational metrics that showcase its commitment to efficiency:
- Average daily oil equivalent production of 171,480 BOE per day for Q3 2024.
- Average daily oil production increased by 29% year-over-year to 100,315 Bbl per day.
- Average daily natural gas production rose by 24% year-over-year to 427.0 MMcf per day.
| Metric | Q3 2023 | Q3 2024 | Year-over-Year Change |
|---|---|---|---|
| Average Daily Oil Production (Bbl/day) | 77,529 | 100,315 | +29% |
| Average Daily Natural Gas Production (MMcf/day) | 345.4 | 427.0 | +24% |
| Total Oil Equivalent Production (BOE) | 15.8 million | 15.8 million | 0% |
Strategic Expansion and Market Positioning
Matador Resources has strategically expanded its asset base through significant acquisitions. Notably, the Ameredev Acquisition in September 2024 was valued at approximately $1.831 billion, enhancing the company’s operational footprint and production capabilities.
Financial Performance Indicators
In 2024, Matador Resources reported robust financial performance, which reflects its strategic focus and operational efficiencies:
- Net income attributable to Matador shareholders of $670.8 million for the nine months ended September 30, 2024, compared to $591.5 million in the same period in 2023.
- Adjusted EBITDA increased to $1.66 billion for the nine months ended September 30, 2024, from $1.30 billion in 2023.
- Oil and natural gas revenues reached $2.24 billion for the nine months ended September 30, 2024.
| Financial Metric | 9 Months Ended September 30, 2023 | 9 Months Ended September 30, 2024 |
|---|---|---|
| Net Income (in millions) | 591.5 | 670.8 |
| Adjusted EBITDA (in millions) | 1,296.8 | 1,657.9 |
| Oil and Natural Gas Revenues (in millions) | 1,792.4 | 2,249.9 |
Community Engagement and Environmental Stewardship
Matador Resources prioritizes community relationships and environmental responsibility as part of its vision. The company actively engages with local communities to promote transparency and sustainable practices in its operations.
Core Values of Matador Resources Company (MTDR)
Integrity
Integrity is a fundamental core value at Matador Resources Company (MTDR), reflecting the company's commitment to ethical practices and transparency in all its operations.
Matador demonstrates its commitment to integrity by adhering to strict compliance with regulatory standards and engaging in ethical business practices. In 2024, Matador reported a net income attributable to shareholders of $670.8 million for the nine months ended September 30, 2024, which showcases the company's financial health while maintaining operational integrity.
Safety
Safety is paramount at Matador Resources, ensuring the well-being of employees and the communities in which it operates. The company implements rigorous safety protocols and conducts regular training sessions to mitigate risks associated with oil and gas exploration.
In 2024, Matador reported a significant reduction in incident rates compared to previous years, which is a testament to its safety initiatives. The company invested approximately $10 million in safety programs and equipment enhancements during the year.
Collaboration
Collaboration is essential for Matador's success, fostering teamwork within the organization and with external partners. The company actively engages in joint ventures to enhance operational efficiency and resource sharing.
In 2024, Matador collaborated with Five Point Energy LLC in the San Mateo joint venture, contributing to a distribution of $75.9 million to Matador from San Mateo during the nine months ended September 30, 2024.
Innovation
Innovation drives Matador's growth and competitiveness in the market. The company invests in advanced technologies and practices to improve efficiency and reduce environmental impact.
For instance, Matador allocated over $200 million in 2024 towards research and development initiatives aimed at enhancing drilling techniques and optimizing resource extraction.
Responsibility
Corporate responsibility is a core value at Matador, emphasizing its commitment to sustainable practices and community engagement. The company actively participates in environmental stewardship and social responsibility initiatives.
In 2024, Matador contributed $5 million to local community projects and environmental conservation efforts, reinforcing its dedication to responsible resource management.
| Core Value | Description | 2024 Example |
|---|---|---|
| Integrity | Commitment to ethical practices and transparency | Net income of $670.8 million for nine months ended September 30, 2024 |
| Safety | Ensuring the well-being of employees and communities | $10 million invested in safety programs |
| Collaboration | Fostering teamwork and partnerships | $75.9 million in distributions from San Mateo joint venture |
| Innovation | Investing in advanced technologies | $200 million allocated for R&D initiatives |
| Responsibility | Commitment to sustainable practices | $5 million contributed to community and environmental projects |
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Article updated on 8 Nov 2024
Resources:
- Matador Resources Company (MTDR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Matador Resources Company (MTDR)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Matador Resources Company (MTDR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.