Matador's Q1 Production Exceeds Guidance at 207,594 Barrels
"Matador's first quarter 2026 average daily total production of 207,594 barrels of oil equivalent per day, consisting of 120,277 barrels of oil per day and 523.9 million cubic feet of natural gas per day, exceeded the upper end of our production guidance. This first quarter 2026 production represented a 5% increase as compared to the first quarter of 2025 production. This production outperformance was achieved notwithstanding the impact of negative Waha natural gas pricing, including approximately 3,000 BOE per day of related elective shut-ins and approximately 4,000 BOE per day of weather-related well shut-ins associated with Winter Storm Fern. Our audited total proved oil and natural gas reserves grew to 667.0 million BOE at December 31, 2025, a 9% increase, from 611.5 million BOE at year end 2024, driven by consistent production, operational and geologic outperformance.
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- Financial Discipline: Matador Resources reported capital spending of $428 million in Q1 2026, aligning with expectations, which demonstrates the company's commitment to financial discipline amid a volatile market, focusing on reducing debt while increasing production capacity.
- Inventory Advantage: The company boasts 10 to 15 years of inventory with returns exceeding 50%, providing Matador with greater growth flexibility compared to peers, enabling it to capitalize on opportunities during market fluctuations.
- Midstream Integration Strategy: CEO Foran highlighted that the Hugh Brinson project will help the company move away from negative Waha pricing towards the Henry Hub market, thereby enhancing price realization and improving overall economic efficiency.
- Operational Efficiency Gains: CFO Calvert noted that the drilling and completions cost target for Q1 2026 is set at $785 to $805 per lateral foot, a 6% decrease from 2025, achieved through water recycling and multi-well completions, resulting in a 13% improvement in cycle time.
- Executive Appointments: Matador Resources has promoted Christopher P. Calvert to Executive Vice President and Chief Financial Officer, and Glenn W. Stetson to Executive Vice President and Chief Operating Officer, effective April 21, 2026, aimed at enhancing the company's execution and efficiency.
- Succession Details: Calvert succeeds Robert T. Macalik as CFO, with Macalik's departure not linked to any financial, accounting, or operational disagreements, indicating stability during the executive transition.
- Experience Background: Both new executives bring over a decade of leadership experience within the company and approximately 20 years of industry experience, providing a solid foundation for the company's long-term value creation.
- Strategic Objectives: The executive changes are designed to support execution, efficiency, and long-term value creation, reflecting Matador Resources' commitment to future growth and strategic planning.
- Executive Promotions: Matador Resources Company has announced the promotions of Christopher P. Calvert to Executive Vice President and Chief Financial Officer and Glenn W. Stetson to Executive Vice President and Chief Operating Officer, aimed at further strengthening the company's execution and long-term value creation.
- Experienced Leadership Team: Both Calvert and Stetson have over ten years at Matador and approximately 20 years of industry experience, ensuring stability and efficiency in the company's future operations.
- Financial Leadership Transition: Calvert will succeed Robert T. Macalik as Chief Financial Officer, with Macalik's departure unrelated to any financial or accounting issues, ensuring a smooth transition in management.
- Strategic Development Focus: Founder and CEO Joseph Wm. Foran stated that the promotions of Calvert and Stetson will aid in the continued growth of the company in oil and gas resource development and midstream operations, further enhancing Matador's market position in Texas and New Mexico.
- Market Recovery Context: After a subdued start to the year, the U.S. stock market has rebounded strongly this week, with major indexes moving back toward record highs, supported by solid company results, healthy consumer spending, and easing inflation concerns, indicating a restoration of market confidence.
- Importance of Sales Growth: Companies like Deckers Outdoor, Matador Resources, and FactSet Research are viewed favorably due to their sales growth potential, with Deckers expected to achieve a 7.3% sales growth rate for fiscal 2027 and Matador at 11.2%, indicating strong market demand in their respective industries.
- Industry Competitiveness Analysis: Sales growth not only reflects customer demand for products but may also signal future profit increases, especially when fixed costs can be spread over a larger base, which is crucial for the companies' long-term expansion strategies.
- Investor Confidence Boost: As energy prices ease and geopolitical tensions diminish, investor confidence has improved, leading to increased capital inflows into these companies with promising sales growth prospects, further driving their stock prices upward.
- Matador Resources: As a leading oil and gas explorer in the U.S., Matador Resources has an expected year-over-year earnings growth rate of 312% for 2026, with the Zacks consensus estimate for its earnings revised up by 73.3% over the past 60 days, indicating strong profitability and market appeal.
- Pampa Energia: This independent energy-integrated company in Argentina has an expected year-over-year earnings growth rate of 24.1% for 2026, and its earnings consensus estimate has been revised upward by 0.7% in the last 60 days, reflecting robust performance in the energy sector.
- Occidental Petroleum: As an integrated oil and gas company, Occidental Petroleum is projected to have a year-over-year earnings growth rate of 40.3% for 2026, with its earnings consensus estimate revised up by 377% over the past 60 days, showcasing its competitive edge and investment attractiveness in the industry.
- First American Financial: Focused on real estate transactions, First American Financial has an expected earnings growth rate of 5.5% for 2026, with its earnings consensus estimate revised up by 3.4% in the past 60 days, demonstrating stability and growth potential in the real estate market.









