$MTDR
Matador Resources Co

2023 Q3 Form 10-Q Financial Statement

#000152000623000174 Filed on July 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $772.3M $638.1M
YoY Change -8.16% -32.4%
Cost Of Revenue $206.5M $180.8M
YoY Change -1.93% -11.36%
Gross Profit $565.8M $457.3M
YoY Change -10.24% -38.2%
Gross Profit Margin 73.26% 71.67%
Selling, General & Admin $31.70M $26.72M
YoY Change 15.07% 9.35%
% of Gross Profit 5.6% 5.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $192.8M $177.5M
YoY Change 62.19% 47.9%
% of Gross Profit 34.07% 38.82%
Operating Expenses $225.8M $205.0M
YoY Change 53.5% 41.42%
Operating Profit $340.0M $252.3M
YoY Change -29.64% -57.6%
Interest Expense $35.41M -$34.23M
YoY Change -321.36% -285.1%
% of Operating Profit 10.41% -13.57%
Other Income/Expense, Net -$47.02M $16.56M
YoY Change -2706.54% -172.54%
Pretax Income $293.0M $234.4M
YoY Change -37.39% -59.03%
Income Tax $14.59M $57.31M
% Of Pretax Income 4.98% 24.45%
Net Earnings $263.7M $164.7M
YoY Change -21.87% -60.39%
Net Earnings / Revenue 34.15% 25.81%
Basic Earnings Per Share $2.21 $1.38
Diluted Earnings Per Share $2.20 $1.37
COMMON SHARES
Basic Shares Outstanding 119.1M shares 119.2M shares
Diluted Shares Outstanding 120.1M shares 119.8M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.90M $22.30M
YoY Change -93.53% -90.32%
Cash & Equivalents $25.94M $22.30M
Short-Term Investments
Other Short-Term Assets $123.0M $120.5M
YoY Change 30.9% 21.74%
Inventory $35.50M $30.85M
Prepaid Expenses
Receivables $289.3M $421.7M
Other Receivables $49.35M $39.01M
Total Short-Term Assets $711.4M $634.4M
YoY Change -23.25% -20.79%
LONG-TERM ASSETS
Property, Plant & Equipment $6.676B $6.439B
YoY Change 54.6% 56.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $51.85M $58.69M
YoY Change -13.57% -1.15%
Total Long-Term Assets $6.728B $6.498B
YoY Change 53.66% 56.09%
TOTAL ASSETS
Total Short-Term Assets $711.4M $634.4M
Total Long-Term Assets $6.728B $6.498B
Total Assets $7.439B $7.132B
YoY Change 40.23% 43.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $81.44M $122.7M
YoY Change -7.56% 210.31%
Accrued Expenses $367.2M $350.3M
YoY Change 19.79% 54.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $722.3M $687.0M
YoY Change 15.54% 12.78%
LONG-TERM LIABILITIES
Long-Term Debt $2.189B $2.203B
YoY Change 83.48% 66.84%
Other Long-Term Liabilities $12.71M $79.80M
YoY Change -82.42% 331.39%
Total Long-Term Liabilities $2.842B $2.283B
YoY Change 124.6% 41.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $722.3M $687.0M
Total Long-Term Liabilities $2.842B $2.283B
Total Liabilities $3.564B $3.729B
YoY Change 45.68% 67.86%
SHAREHOLDERS EQUITY
Retained Earnings $1.546B $1.300B
YoY Change 101.89% 195.55%
Common Stock $1.192M $1.192M
YoY Change 0.76% 0.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.076M $5.076M
YoY Change 96.36% 115.45%
Treasury Stock Shares
Shareholders Equity $3.663B $3.403B
YoY Change
Total Liabilities & Shareholders Equity $7.439B $7.132B
YoY Change 40.23% 43.68%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $263.7M $164.7M
YoY Change -21.87% -60.39%
Depreciation, Depletion And Amortization $192.8M $177.5M
YoY Change 62.19% 47.9%
Cash From Operating Activities $461.0M $449.0M
YoY Change -17.23% -30.53%
INVESTING ACTIVITIES
Capital Expenditures $359.1M $334.8M
YoY Change -300.54% -268.72%
Acquisitions
YoY Change
Other Investing Activities -$64.40M -$1.560B
YoY Change 5.49% 2108.16%
Cash From Investing Activities -$423.6M -$1.895B
YoY Change 76.41% 604.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -41.00M 1.009B
YoY Change -73.95% -569.0%
NET CHANGE
Cash From Operating Activities 461.0M 449.0M
Cash From Investing Activities -423.6M -1.895B
Cash From Financing Activities -41.00M 1.009B
Net Change In Cash -3.600M -437.6M
YoY Change -102.26% -369.91%
FREE CASH FLOW
Cash From Operating Activities $461.0M $449.0M
Capital Expenditures $359.1M $334.8M
Free Cash Flow $101.9M $114.2M
YoY Change -86.16% -86.48%

Facts In Submission

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NATURE OF OPERATIONSMatador Resources Company, a Texas corporation (“Matador” and, collectively with its subsidiaries, the “Company”), is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. The Company also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, the Company conducts midstream operations in support of the Company’s exploration, development and production operations and provides natural gas processing, oil transportation services, oil, natural gas and produced water gathering services and produced water disposal services to third parties.
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
152800000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.26
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.26
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
17800000 usd
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
17900000 usd
CY2023Q2 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-11796000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
11796000 usd
CY2023Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
11796000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-11796000 usd
CY2023Q2 mtdr Derivative Asset Liability Subject To Master Netting Arrangement
DerivativeAssetLiabilitySubjectToMasterNettingArrangement
0 usd
CY2023Q2 mtdr Derivative Asset Liability Net
DerivativeAssetLiabilityNet
-11796000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
3931000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
3931000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
3931000 usd
CY2022Q4 mtdr Derivative Asset Liability Subject To Master Netting Arrangement
DerivativeAssetLiabilitySubjectToMasterNettingArrangement
0 usd
CY2022Q4 mtdr Derivative Asset Liability Net
DerivativeAssetLiabilityNet
3931000 usd
CY2023Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-11807000 usd
CY2022Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-30733000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-15205000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-128201000 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
350343000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
261310000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1677000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
13500000 usd
us-gaap Interest Paid Net
InterestPaidNet
65757000 usd
us-gaap Interest Paid Net
InterestPaidNet
37254000 usd
mtdr Increase Decrease In Liabilities For Oil And Natural Gas Properties
IncreaseDecreaseInLiabilitiesForOilAndNaturalGasProperties
89760000 usd
mtdr Increase Decrease In Liabilities For Oil And Natural Gas Properties
IncreaseDecreaseInLiabilitiesForOilAndNaturalGasProperties
-50283000 usd
mtdr Increase Decrease In Liabilities For Acquisition Of Oil And Natural Gas Properties
IncreaseDecreaseInLiabilitiesForAcquisitionOfOilAndNaturalGasProperties
-346000 usd
mtdr Increase Decrease In Liabilities For Acquisition Of Oil And Natural Gas Properties
IncreaseDecreaseInLiabilitiesForAcquisitionOfOilAndNaturalGasProperties
-2510000 usd
mtdr Increase Decrease In Liabilities For Support Equipment And Facilities
IncreaseDecreaseInLiabilitiesForSupportEquipmentAndFacilities
-929000 usd
mtdr Increase Decrease In Liabilities For Support Equipment And Facilities
IncreaseDecreaseInLiabilitiesForSupportEquipmentAndFacilities
7226000 usd
mtdr Stock Based Compensation Expense Benefit Recognized As Liability
StockBasedCompensationExpenseBenefitRecognizedAsLiability
3628000 usd
mtdr Stock Based Compensation Expense Benefit Recognized As Liability
StockBasedCompensationExpenseBenefitRecognizedAsLiability
17521000 usd
mtdr Increase Decrease In Liabilities For Accrued Cost To Issue Senior Notes
IncreaseDecreaseInLiabilitiesForAccruedCostToIssueSeniorNotes
248000 usd
mtdr Increase Decrease In Liabilities For Accrued Cost To Issue Senior Notes
IncreaseDecreaseInLiabilitiesForAccruedCostToIssueSeniorNotes
0 usd
mtdr Transfer Of Inventory From To Oil And Natural Gas Properties
TransferOfInventoryFromToOilAndNaturalGasProperties
725000 usd
mtdr Transfer Of Inventory From To Oil And Natural Gas Properties
TransferOfInventoryFromToOilAndNaturalGasProperties
-162000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22303000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
230394000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
43535000 usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
51889000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65838000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
282283000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-3148000 usd
CY2023Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-8659000 usd
CY2023Q2 us-gaap Costs And Expenses
CostsAndExpenses
385815000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
252268000 usd
CY2023Q2 us-gaap Assets
Assets
7132338000 usd
CY2023Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1980517000 usd
CY2022Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-61163000 usd
CY2022Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
30430000 usd
CY2022Q2 us-gaap Costs And Expenses
CostsAndExpenses
348941000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
594989000 usd
CY2022Q2 us-gaap Assets
Assets
4963876000 usd
CY2022Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
264741000 usd
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
521000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-15726000 usd
us-gaap Costs And Expenses
CostsAndExpenses
694658000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
503701000 usd
CY2023Q2 us-gaap Assets
Assets
7132338000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2314071000 usd
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-83602000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-44599000 usd
us-gaap Costs And Expenses
CostsAndExpenses
605326000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
904296000 usd
CY2022Q2 us-gaap Assets
Assets
4963876000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001520006-23-000174.txt Edgar Link pending
0001520006-23-000174-xbrl.zip Edgar Link pending
a20230630mtdr10qex221.htm Edgar Link pending
a20230630mtdr10qex311.htm Edgar Link pending
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mtdr-20230630_cal.xml Edgar Link unprocessable
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