Matador Resources Co. 2026年季度报告

As of May6, 2026, there were 124,178,227 shares of the registrant’s common stock, par value $0.01 per share, outstanding. TABLE OF CONTENTS Matador Resources Company and Subsidiaries NOTE 1 — NATURE OF OPERATIONS Matador Resources Company, a Texas corporation (“Matador” and, collectively with its subsidiaries, the “Company”), is anindependent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in theUnited States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s current operations are focusedprimarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico andWest Texas. The Company also has operations in the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, theCompany conducts midstream operations primarily through its midstream joint venture, San Mateo Midstream, LLC and its subsidiaries NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Interim Financial Statements, Basis of Presentation, Consolidation and Significant Estimates The interim unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rulesand regulations of the Securities and Exchange Commission (“SEC”) but do not include all of the information and footnotes required bygenerally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements and should be The Company consolidates certain subsidiaries and joint ventures that are less-than-wholly-owned and are not involved in oil andnatural gas exploration, including San Mateo, and the net income and equity attributable to the non-controlling interest in these subsidiarieshave been reported separately as required by Accounting Standards Codification Topic 810,Consolidation. The Company proportionately Certain reclassifications to captions within the interim unaudited condensed consolidated balance sheets, statements of operations andstatements of changes in shareholders’ equity have been made to the prior period’s financial statements to conform to the current periodpresentation. These reclassifications had no effect on previously reported results of operations, cash flows or retained earnings. Inmanagement’s opinion, these interim unaudited condensed consolidated financial statements include all normal, recurring adjustments that The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions thataffect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions may also affect disclosureof contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during thereporting period. The Company’s interim unaudited condensed consolidated financial statements are based on a number of significantestimates, including oil and natural gas revenues, accrued assets and liabilities, stock-based compensation, valuation of derivativeinstruments, deferred tax assets and liabilities, purchase price allocations and oil and natural gas reserves. The estimates of oil and natural Matador Resources Company and SubsidiariesNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS — NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued RevenuesThe following table summarizes the Company’s total revenues and revenues from contracts with customers on a disaggregated basisfor the three months ended March 31, 2026 and 2025 (in thousands). Property and Equipment The Company uses the full-cost method of accounting for its investments in oil and natural gas properties. Under this method, theCompany is required to perform a ceiling test each quarter that determines a limit, or ceiling, on the capitalized costs of oil and natural gasproperties based primarily on the after-tax estimated future net cash flows from oil and natural gas properties using a 10% discount rate and The Company capitalized approximately $21.1 million and $17.5 million of its general and administrative costs for the three monthsended March 31, 2026 and 2025, respectively. The Company capitalized approximately $7.0 million and $8.7 million of its interest expense The Company reports basic (loss) earnings attributable to Matador shareholders per common share, which excludes the effect ofpotentially dilutive securities, and diluted (loss) earnings attributable to Matador shareholders per common share, which includes the effect The following table sets forth the computation of diluted weighted average common shares outstanding for the three months endedMarch 31, 2026 and 2025 (in thousands). NOTE 3 — ASSET RETIREMENT OBLIGATIONS The following table summarizes the changes in the Company’s asset retirement obligations for the three months ended March 31, 2026(in thousands). N