Business Context and Reporting Period
Company: Matador Resources Company
Filing Type: Form 8-K (Current Report)
Date of Report: August 6, 2014
Reporting Period: Financial results for the three and six months ended June 30, 2014, with an operational update as of August 6, 2014.
Key Financial Metrics
The filing serves as a cover document referencing a press release (Exhibit 99.1) for detailed figures. Specific numerical values for revenue, profit, cash flow, margins, debt, and liquidity are not contained within the text of this 8-K form.
Non-GAAP Measures Disclosed:
- Adjusted EBITDA: Defined as earnings before interest, taxes, depletion, depreciation, amortization, accretion of asset retirement obligations, impairments, unrealized derivative gains/losses, and other non-cash items.
- PV-10: Present value discounted at 10% (pre-tax) of estimated total proved reserves.
The filing states that reconciliations of these non-GAAP measures to GAAP measures are provided in the referenced press release.
Material Changes
The filing text does not provide specific comparative data or quantify material changes versus prior periods. It indicates that such operational and financial updates are contained within the attached press release.
Guidance, Outlook, and Risks
Management Commentary: The company provided an operational update as of August 6, 2014, within the referenced press release.
Legal Status of Information: The information furnished in this Item 2.02 and Item 7.01, including the press release, is not deemed "filed" under Section 18 of the Exchange Act and will not be incorporated by reference into Securities Act filings unless specifically identified.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated August 6, 2014) for specific revenue, net income, and cash flow figures.
- Examine the reconciliation tables in the press release to understand the difference between GAAP net income and Adjusted EBITDA.
- Verify the PV-10 calculation assumptions and reserve estimates provided in the operational update.
- Confirm the status of the company's debt and liquidity position as detailed in the full press release.