Matador Resources Company has posted $240.1 million in net profit for Q1 2025, up 24 percent from the $193.7 million logged for the corresponding quarter a year prior.
Its oil and natural gas production averaged 198,631 barrels of oil equivalent per day (boepd) in the first quarter of 2025, a 33 percent jump year-over-year. The better-than-expected oil and natural gas production was primarily due to the outperformance of wells that were turned into sales in the fourth quarter of 2024, the company said.
Average oil production rose by 36 percent to around 115,030 barrels per day in the first quarter of 2025, up from 84,777 barrels per day in the same period of 2024. Average natural gas production increased by 29 percent to 501.6 million cubic feet per day in the first quarter of 2025, compared to 389.9 million cubic feet per day during the first quarter of 2024.
“Matador is pleased to report another profitable quarter that exceeded our expectations”, Joseph Wm. Foran, Matador’s Founder, Chairman and CEO, said. Foran added that as a response to the commodity price volatility, the company has adjusted its drilling and completion activity for 2025 to provide more optionality.
“Matador began 2025 operating nine drilling rigs and now expects to drop to eight drilling rigs by the middle of 2025, which is made possible by the flexibility in its service contracts allowing for rapid reduction of operations”, Foran said.
“The adjustment in activity is expected to reduce Matador’s drilling, completing and equipping capital expenditures for full-year 2025 by $100 million from Matador’s original expectation of $1.375 billion to a revised expectation of $1.275 billion”, Foran said, adding that the freed up cash flow of $100 million will be used to repay debt and repurchase shares, among other things.
Matador said that during the quarter, it turned 40 gross operated wells into sales. Among those wells, 11 gross wells were turned to sales on the eastern side of the company’s newly acquired Ameredev acreage.
“Of the 40 gross (33.5 net) operated wells turned to sales in the first quarter of 2025, 38 gross (31.6 net) of these operated wells (95 percent) were turned to sales during the second half of the first quarter. The wells turned to sales during the second half of the first quarter of 2025, set Matador up for anticipated record production results during the second quarter of 2025”, Foran said. “Matador expects to produce average total oil and natural gas production of 207,000 boepd during the second quarter of 2025, including 122,000 barrels of oil per day and 510.0 million cubic feet of natural gas per day”.
To contact the author, email andreson.n.paul@gmail.com
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
element
var scriptTag = document.createElement(‘script’);
scriptTag.src = url;
scriptTag.async = true;
scriptTag.onload = implementationCode;
scriptTag.onreadystatechange = implementationCode;
location.appendChild(scriptTag);
};
var div = document.getElementById(‘rigzonelogo’);
div.innerHTML += ” +
‘
‘ +
”;
var initJobSearch = function () {
//console.log(“call back”);
}
var addMetaPixel = function () {
if (-1 > -1 || -1 > -1) {
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
} else if (0 > -1 && 77 > -1)
{
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
}
}
// function gtmFunctionForLayout()
// {
//loadJS(“https://www.googletagmanager.com/gtag/js?id=G-K6ZDLWV6VX”, initJobSearch, document.body);
//}
// window.onload = (e => {
// setTimeout(
// function () {
// document.addEventListener(“DOMContentLoaded”, function () {
// // Select all anchor elements with class ‘ui-tabs-anchor’
// const anchors = document.querySelectorAll(‘a .ui-tabs-anchor’);
// // Loop through each anchor and remove the role attribute if it is set to “presentation”
// anchors.forEach(anchor => {
// if (anchor.getAttribute(‘role’) === ‘presentation’) {
// anchor.removeAttribute(‘role’);
// }
// });
// });
// }
// , 200);
//});
