Matador Resources Co. 8-K Summary
Business Context and Reporting Period
Matador Resources Co. filed this Form 8-K on March 23, 2012, to report financial results for the fourth quarter and full year ended December 31, 2011. The filing incorporates a press release (Exhibit 99.1) detailing these results.
Key Financial Metrics
The filing text references the inclusion of financial results but does not explicitly state specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity within the 8-K body. The company reports the following non-GAAP measures in the attached press release:
- Adjusted EBITDA: Earnings before interest, taxes, depletion, depreciation, amortization, impairments, unrealized derivative gains/losses, non-recurring items, and stock-based compensation.
- PV-10: Present value of estimated total proved reserves discounted at 10% (pre-tax).
Reconciliations to GAAP measures are provided in the attached press release, but specific figures are not present in this filing text.
Material Changes
The filing text does not provide specific data points to quantify material changes versus prior periods. It only confirms that results for the fourth quarter and full year 2011 are being reported.
Guidance, Outlook, and Risks
The filing does not contain explicit forward-looking guidance, management commentary, or risk factors within the 8-K text itself. It notes that the press release explains the utility of the non-GAAP measures for investors. The filing includes standard disclaimers that the information is not deemed "filed" under Section 18 of the Exchange Act unless specifically incorporated by reference.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and cash flow figures for Q4 and FY 2011.
- Verify the reconciliation of Adjusted EBITDA and PV-10 to GAAP net income and total assets.
- Confirm the specific year-over-year percentage changes in production volumes and realized prices mentioned in the press release.
- Check for any updates on capital expenditure plans or debt covenants in the full press release.