Investor Presentaiton
Adjusted EBITDA Reconciliation
San Mateo(1)
San Mateo
MIDSTREAM
The following table presents the calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of
net income (loss) and net cash provided by (used in) operating activities, respectively, for San Mateo Midstream, LLC and San Mateo
Midstream II, LLC.
2015
2016
Year Ended December 31,
2017
2018
2019
(In thousands)
Unaudited Adjusted EBITDA reconciliation to
Net Income:
Net income
Total income tax provision
Depletion, depreciation and amortization
Interest expense
Accretion of asset retirement obligations
Adjusted EBITDA (Non-GAAP)
647
562
-
16
97
1,739
-
47
$ 3,944 $ 12,057
(In thousands)
Unaudited Adjusted EBITDA reconciliation to
Net Cash Provided by Operating Activities:
Net cash provided by operating activities
Net change in operating assets and liabilities
Interest expense, net of non-cash portion
Current income tax provision
Adjusted EBITDA (Non-GAAP)
$ 2,719 $ 10,174 $ 26,391
$52,158 $ 71,850
269
4,231
9,459
15,068
333
30
61
9,282
110
$30,921
$62,011 $ 96,310
2015
2016
Year Ended December 31,
2017
2018
2019
$ 13,916 $ 6,694
(10,007) 5,266
$21,308
9,344
$35,702 $106,650
25,989
320
(19,137)
8,797
35
97
269
-
$ 3,944 $ 12,057 $ 30,921 $62,011 $ 96,310
(1) Pro forma for February 2017 San Mateo I transaction and the purchase of the non-controlling interest in Fulcrum Delaware Water Resources, LLC not previously owned by Matador.
Matador 55
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