Full-Year 2024 Guidance Update
Effective July 23, 2024, Matador increased its full-year 2024 guidance range for total oil and natural gas equivalent production, oil production and natural gas production as set forth in the table below. This increased production guidance does not yet include any expected production from Matador's anticipated acquisition of a subsidiary of Ameredev II Parent, LLC ("Ameredev"). The Ameredev acquisition is expected to close late in the third quarter of 2024, subject to customary closing conditions, including regulatory approval.
| Production | Prior Full-Year 2024 Guidance Range | New Full-Year 2024 Guidance Range(1) | Difference(2) |
| Total, BOE per day | 153,000 to 159,000 | 158,500 to 163,500 | +3.2% |
| Oil, Bbl per day | 91,000 to 95,000 | 93,500 to 96,500 | +2.2% |
| Natural Gas, MMcf per day | 370.0 to 386.0 | 390.0 to 402.0 | +4.8% |
| (1) | Does not include any production associated with the pending Ameredev acquisition that is expected to close late in the third quarter of 2024, subject to customary closing conditions, including regulatory approval. |
| (2) | The midpoint of guidance provided on July 23, 2024 as compared to the midpoint of guidance provided on February 20, 2024. |
For highlights of Matador's second quarter 2024 operational and financial results, please see "Second Quarter 2024 Matador Operational and Financial Highlights" on page 4 of this earnings release. For comparisons of our second quarter 2024 operational and financial results to prior periods, please see "Operational and Financial Update" beginning on page 4 of this earnings release. For a description of certain selected financial and operating items, please see "Selected Financial and Operating Items" on page 9 of this earnings release.