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Matador Resources Raises 2026 Oil Production Outlook After Higher Q1 Output

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-- Matador Resources (MTDR) reported Q1 earnings Wednesday, showing net production volumes of 18.68 million barrels of oil equivalent, up from 17.88 mmboe a year earlier.

The company produced 10.83 million barrels of oil for the quarter ended March 31, compared with 10.35 mmbbls in the corresponding quarter a year earlier.

Natural gas production volumes increased to 47.2 billion cubic feet in Q1 from 45.1 Bcf a year earlier.

Average daily total oil equivalent production reached 207,594 boe per day during the quarter ended March 31, up from 198,631 boe/d in the prior-year period.

Daily production volumes for oil averaged 120,277 barrels per day, up from 115,030 b/d, while daily natural gas production volumes averaged 523.9 million cubic feet per day, up from 501.6 MMcf/d.

Matador raised its full-year 2026 oil production guidance to 123,000 b/d to 125,000 b/d, up from the prior range of 122,000 b/d to 124,000 b/d.

The company also revised its total oil equivalent production guidance to 210,500 boe/d to 216,000 boe/d, upwards from the prior outlook of 209,500 boe/d to 215,000 boe/d.

The company expects 2026 drilling, completion and equipping capital expenditures of $1.35 billion to $1.44 billion.

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