Matador Resources Co. Form 8-K Summary
Business Context and Reporting Period
Matador Resources Co. filed this Current Report on Form 8-K on May 14, 2012, to disclose its financial results for the three months ended March 31, 2012. The filing incorporates a press release (Exhibit 99.1) detailing the company's operating performance for the first quarter of 2012.
Key Financial Metrics
The filing text references the inclusion of financial results but does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document explicitly states that the press release contains:
- Adjusted EBITDA: Defined as earnings before interest, taxes, depletion, depreciation, amortization, accretion of asset retirement obligations, impairments, unrealized derivative gains/losses, and certain non-cash expenses.
- PV-10: Defined as the present value discounted at 10% (pre-tax) of estimated total proved reserves.
The filing confirms that reconciliations of these non-GAAP measures to GAAP measures are provided in the attached press release, but the specific figures are not present in the 8-K text itself.
Material Changes
The filing text does not provide specific data regarding material changes in financial metrics compared to the prior comparable period. It only indicates that the press release contains the operating results for the quarter.
Guidance, Outlook, and Risks
The filing does not contain specific guidance, outlook, management commentary, or risk factors within the text of the 8-K. It notes that the press release provides reasons why the company believes the non-GAAP measures are useful to investors. The document includes standard disclaimers stating that the information furnished 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) for specific Q1 2012 revenue, net income, and cash flow figures.
- Examine the reconciliation tables in the press release to understand the adjustments made to derive Adjusted EBITDA and PV-10.
- Verify the specific production volumes and commodity price realizations reported in the press release to assess operational performance.
- Check for any forward-looking statements or guidance updates included in the press release that are not detailed in this 8-K summary.