Fri, Jul 26, 8:07 PM (43 days ago)
Matador Resources Company reported strong financial performance for Q2 2024, with total revenues of $847.1 million, up 33% from $638.1 million in Q2 2023, driven by increased oil and natural gas production and higher oil prices. Net income attributable to shareholders rose to $228.8 million ($1.83 per diluted share) from $164.7 million ($1.37 per diluted share) in Q2 2023. Adjusted EBITDA was $578.1 million, a 37% increase from $423.3 million in Q2 2023. The company maintained a healthy balance sheet with $738.4 million in current assets and $856.5 million in current liabilities. It announced the acquisition of Ameredev II Parent, LLC, expected to close in Q3 2024, which will further boost production and reserves. The company's liquidity remains strong with significant borrowing capacity under its credit facilities.