Matador sees Q3 average daily production 198,500-201,000 BOE/d

At July 22, 2025, Matador (MTDR) expects to turn to sales 28 to 32 net operated horizontal wells in the Delaware Basin during the third quarter of 2025. Approximately 60 to 65% of these wells are expected to be in the Antelope Ridge asset area in Lea County, New Mexico. The remaining wells are in the Ranger asset area in Lea County, New Mexico and in the Rustler Breaks and Arrowhead asset areas in Eddy County, New Mexico. Approximately two-thirds of the operated wells expected to be turned to sales in the third quarter are in the second half of the quarter and, as a result, do not contribute to production in the full third quarter of 2025. Matador expects D/C/E capital expenditures for the third quarter of 2025 will be approximately $300 to $370 million, which is a 3% decrease as compared to $345.3 million for the second quarter of 2025, primarily due the reduction in operated rig activity announced in April. Matador expects its proportionate share of midstream capital expenditures will be approximately $25 to $55 million in the third quarter of 2025, which is a 29% decrease as compared to $56.2 million in the second quarter of 2025. Matador expects both D/C/E and midstream capital expenditures to be lower in the second half of the year, primarily due to the reduced pace of activity and increased capital efficiency noted above.