Matador reports Q1 adjusted EPS $1.99, consensus $1.78

Reports Q1 revenue $1.01B, consensus $956.57M. Joseph Wm. Foran, Matador’s (MTDR) Founder, Chairman and CEO, commented, “Matador is pleased to report another profitable quarter that exceeded our expectations. During Matador’s 40-year history, we have faced a number of turbulent times with regards to oil and natural gas prices and other outside difficulties. It has been during these times that Matador has relied upon its operational expertise and its financial strength and the long-term nature of its assets to make some of its most significant progress and growth. This time, Matador believes it is in its strongest position yet to take advantage of the opportunities out there in these challenging times. Matador has a strong balance sheet, approximately 200,000 net acres in the Delaware Basin, production at all-time highs, record oil and natural gas reserves, a ‘gas bank’ in its Cotton Valley holdings in Northwestern Louisiana, a strategic midstream business, a 10 to 15 year inventory of quality oil and gas locations and an experienced, tested and capable leadership team that has and is taking the necessary precautions and steps to take full advantage of the various opportunities that may present themselves to us.”