Description

Matador Resources Reshapes Its Delaware Basin Footprint With Cardinal, Paloma & Ridge Runner!

Matador Resources Company reported near-record adjusted free cash flow of $303 million in the second quarter of 2026, of which $200 million was allocated toward reducing debt acquired during the purchase of federal leases. This repayment lowered total bank debt to just under $1 billion, with ongoing efforts to further reduce leverage throughout the year. The company secured backing from a syndicate of 19 banks, reflecting strong lender confidence and an increased borrowing capacity for future opportunities if they arise. Production exceeded the high end of prior guidance, with oil and natural gas reserves growing by 5% quarter-over-quarter to 703 million barrels of oil equivalent, up from 667 million barrels. Matador also raised its full-year production growth guidance, projecting a 7% year-over-year oil volume increase in 2026, up from an earlier 4%, accomplished with a 1% reduction in capital expenditures.