Commodities
Matador Resources Raises 2026 Oil Production Outlook After Higher Q1 Output
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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