MTDR reports $303 million in Q2 adjusted free cash flow, reducing acquisition debt to below $1 billion and targeting $900 million for 2026.
Matador Resources generated $303 million in adjusted free cash flow during the second quarter, using $200 million to reduce acquisition-related borrowings. The company’s debt fell to less than $1 billion from $1.25 billion, as disclosed during its earnings call.
Production exceeded guidance, reserves rose 5% to 703 million barrels of oil equivalent, and year-over-year oil production growth is now forecast at 4%–7%. Capital spending plans were trimmed by 1%, while acquisitions extended inventory life beyond 15 years with potential returns above 80%.
Management expects full-year free cash flow of approximately $900 million and remains focused on debt reduction, though no specific 2027 guidance was provided.