- Matador Resources (MTDR, Financial) reports a $400 million share repurchase program.
- First-quarter 2025 production increased by 33% year-over-year.
- Adjusted drilling activity to reduce capital expenditures by $100 million.
Matador Resources Company (MTDR) announced their financial and operating results for the first quarter of 2025, highlighting a significant $400 million share repurchase program. This initiative is driven by strong free cash flow, increased production, and confidence in their asset base, aiming to enhance shareholder value.
In the first quarter of 2025, Matador's total oil and natural gas production climbed 33% from the same period in 2024, reaching an average of 198,631 barrels of oil equivalent (BOE) per day. Oil production saw a 36% increase to 115,030 barrels per day, while natural gas output grew by 29% to 501.6 million cubic feet per day.
Despite the positive production results, Matador modified their drilling activity, reducing operating rigs from nine to eight by mid-2025 to provide more flexibility and cut drilling and completion capital expenditures by $100 million, revising the total expected expenditure to $1.275 billion for the full year.
The company continues to leverage its expansive asset base in the Delaware Basin and maintain operational efficiency improvements, aiming for higher return rates amidst ongoing market volatility. For the rest of 2025, Matador projects an average oil and gas production of approximately 200,000 BOE per day, a 17% increase over 2024 figures.
