Matador Resources Q1 output beats guidance; raises 2026 oil production outlook
Matador Resources reported first-quarter 2026 production of 207,594 barrels of oil equivalent per day, above its guided range of 201,000 to 205,000, and raised its full-year 2026 oil and total production guidance while keeping its total capital spending range of $1.45 to $1.55 billion unchanged. The company also said it expects to fully repay its reserve-based lending facility later in May 2026, which it says would lift liquidity to $2.2 billion, though first-quarter natural gas prices fell 82% year over year.
Key points
- Q1 2026 total production of 207,594 BOE per day, up 5% from Q1 2025, and oil production of 120,277 barrels per day
- 2026 oil production guidance raised to 123,000 to 125,000 barrels per day from 122,000 to 124,000; total guidance raised to 210,500 to 216,000 BOE per day
- Operating expense guidance raised to $31.00 to $33.00 per BOE from $30.00 to $31.00; Q1 realized natural gas price was $0.64 per Mcf versus $3.56 a year earlier
- Company expects 2026 adjusted free cash flow of $1.1 to $1.2 billion and has paid down over $350 million on its reserve-based lending facility since year-end 2025
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2026.
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