The following is a summary of the Matador Resources Company (MTDR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Matador Resources has initiated a number of operational flow improvements that are expected to boost next quarter's performance.

• The company has extended its credit agreement to 2029, increasing the committed amount from $1.325 billion to $1.5 billion.

• In terms of capital expenditure, they are maintaining their budget while improving production.

• Raised their full-year guidance to the high end of the range while keeping capital expenditure steady.

Business Progress:

• Matador is set to turn on a record number of wells this quarter with 43 gross operated wells and 36.2 net wells.

• The company has been successful in diversifying their sale of gas products.

• Matador is preparing with Marlan for completion by the middle of 2025 and remains confident about the value of the midstream component, San Mateo.

• Their partnership with Patterson-UTI has been advantageous, and their Midstream team's design in Stateline has improved well performance.

• The company plans to accelerate investment in cloud infrastructure.

• Matador is exploring both organic and inorganic growth strategies and is financially robust to support these strategies. They have also been successful in developing third-party relationships within their Midstream operations.

More details: Matador Resources IR

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