Valued at a $7.55 billion market cap, Matador Resources Company (MTDR) is an independent energy company that engages in the exploration, development, and acquisition of oil and national gas resources. Its shares got a significant boost from solid first-quarter results with higher-than-expected production while lower operating expenses.
During the quarter, Matador’s total oil and natural gas production averaged around 149,760 barrels of oil and natural gas equivalent (BOE) per day, 3% better than its announced guidance of 145,750 BOE per day. Its average oil production of 84,777 barrels per day was 2% better than its guidance average of 83,500 barrels per day.
