Investor Presentaiton
Q3 2020 Selected Operating and Financial Results
(1)
Net Production Volumes:"
Oil (MBbl)
Natural gas (Bcf)
Total oil equivalent (MBOE)
Average Daily Production Volumes:
Oil (Bbl/d)
Natural gas (MMcf/d)
Total oil equivalent (BOE/d)
Average Sales Prices:
(1)
Oil, without realized derivatives, $/Bbl
Oil, with realized derivatives, $/Bbl
Natural gas, without realized derivatives, $/Mcf
Natural gas, with realized derivatives, $/Mcf
Revenues (millions):
Oil and natural gas revenues
September 30,
2020
Three Months Ended
June 30,
2020
September 30,
2019
3,895
3,920
3,659
16.9
16.5
16.5
6,715
6,670
6,407
42,340
43,074
39,776
183.9
181.4
179.2
72.989
73,302
69,645
EA EA SA GA
$
38.67
$
24.03
$
54.19
$
37.28
$
35.28
$
54.97
2.27
$
1.49
$
1.88
$
2.27 $
1.49
$
1.91
$
189.1 $
Third-party midstream services revenues
$
19.4 $
Lease bonus mineral acreage
$
Realized (loss) gain on derivatives
$
(5.4)
SASASEA
118.8
14.7
$
4.1
44.1
CA EA EA GA
$
229.4
$
15.3
$
1.7
3.3
Operating Expenses (per BOE):
Production taxes, transportation and processing
$
3.85
$
2.82
$
3.86
Lease operating
$
3.48
$
3.92
$
4.64
Plant and other midstream services operating
$
1.40
$
1.47
$
1.38
Depletion, depreciation and amortization
General and administrative"
$
13.11
$
14.00
$
14.44
(2)
$
2.25
$
2.21
$
3.18
Total (3)
$
24.09
$
24.42
$
27.50
Other (millions):
Net sales of purchased natural gas
Net (loss) income (millions)
(5)
(4)
(Loss) earnings per common share (diluted)"
(5)(6)
(5)
Adjusted net income (loss) (millions)
Adjusted earnings (loss) per common share (diluted)
$
2.2
$
3.1
$
3.3
$
(276.1)
$
(353.4)
$
44.0
$
(2.38)
$
(3.04) $
0.38
$
11.6
$
(3.1)
$
37.9
(5)(7)
$
0.10
$
(0.03)
$
0.32
Adjusted EBITDA (millions)
(5)(8)
San Mateo net income (millions)
$
121.0
$
107.6
$
160.8
$
20.3
$
15.3
$
20.0
(8)
San Mateo Adjusted EBITDA (millions)"
$
28.0
$
23.2
$
26.3
(1) Production volumes reported in two streams: oil and natural gas, including both dry and liquids-rich natural gas.
(2) Includes approximately $0.50, $0.49 and $0.73 per BOE of non-cash, stock-based compensation expense in the third quarter of 2020, the second quarter of 2020 and the third quarter of 2019, respectively.
(3) Total does not include the impact of full-cost ceiling impairment charges, purchased natural gas or immaterial accretion expenses.
(4) Net sales of purchased natural gas refers to residue natural gas and natural gas liquids that are purchased from customers and subsequently resold.
(5) Attributable to Matador Resources Company shareholders.
(6) Adjusted net income (loss) is a non-GAAP financial measure. For a definition of adjusted net income (loss) and a reconciliation of adjusted net income (loss) (non-GAAP) to net income (loss) (GAAP), see Appendix.
(7) Adjusted earnings (loss) per diluted common share is a non-GAAP financial measure. For a definition of adjusted earnings (loss) per diluted common share and a reconciliation of adjusted earnings (loss) per diluted
common share (non-GAAP) to earnings (loss) per diluted common share (GAAP), see Appendix.
(8) Adjusted EBITDA is a non-GAAP financial measure. For a definition of Adjusted EBITDA and a reconciliation of Adjusted EBITDA (non-GAAP) to net income (loss) (GAAP) and net cash provided by operating
activities (GAAP), see Appendix.
Matador
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