Matador Resources Company (MTDR) Status Update summary

Shareholder engagement and capital allocation

• Initiated first share repurchase program, buying back 250,000 shares at ~$41.50 each, with ongoing officer purchases and plans to continue as opportunities arise.

• Emphasized commitment to individual shareholders and maintaining open communication, including annual meetings and town halls.

• Dividend increased six times in four years, now yielding about 3%, above the Value Line median.

Operational and financial efficiency

• Adjusted activity levels to save $100 million in capital costs (7% reduction) while still targeting 17% year-over-year production growth.

• Focused on capital efficiency through high-graded rigs, extended reach laterals, and faster well completions, including expanded use of simul-frac and trimul-frac processes.

• Reduced debt by $190 million to approximately $400 million, with expected free cash flow of 1.5–2x current debt this year.

Midstream and asset strategy

• Midstream business valued at ~$1.5 billion, with potential IPO or strategic transactions under consideration.

• New Marlin plant coming online on time and on budget, supporting >99% runtime and future growth.

• Sold non-core assets for $440 million, further reducing debt and increasing financial flexibility.