Matador Resources (NYSE:MTDR) reported an adjusted free cash flow of $303 million for Q2 2026, using $200 million to lower its acquisition-related debt from $1.25 billion to under $1 billion. The company expects to generate approximately $900 million in free cash flow for the full year while aiming for a year-over-year oil production growth forecast of 4% to 7%.
Chairman and CEO Joe Foran indicated that reserves increased 5% to 703 million barrels of oil equivalent during the quarter. The company is integrating strategic acquisitions, including federal leases that extend its inventory life to over 15 years, as part of its plan for sustainable growth, with development activity potentially commencing late in 2026 or early 2027.
Management emphasized the advantages of its strong midstream network, facilitating improved gas transportation and supporting ongoing and future drilling activities. The company also noted recent improvements in drilling efficiency, cutting the time to drill three-mile wells from 20 days to around 10 days.
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