Business Context and Reporting Period
Company: Matador Resources Company
Filing Type: Form 8-K (Current Report)
Date of Report: May 3, 2016
Reporting Period: Three months ended March 31, 2016
Context: The filing announces financial results and an operational update for the first quarter of 2016. The report incorporates a press release (Exhibit 99.1) and a presentation (Exhibit 99.2) by reference.
Key Financial Metrics
The provided text serves as a cover document referencing attached exhibits for specific data. Consequently, the filing text does not provide clear values for the following metrics:
- Revenue
- Profit (Net Income)
- Cash Flow
- Margins
- Debt Levels
- Liquidity
Non-GAAP Measures Discussed: The filing notes that the attached Investor Materials include reconciliations for:
- Adjusted EBITDA
- PV-10 (Present value of estimated total proved reserves discounted at 10%)
- Adjusted Net Income and Adjusted Earnings Per Share
Material Changes
The filing text does not contain specific numerical comparisons to prior periods. It states that the attached press release and presentation contain the operational update and financial results, but the specific material changes are not detailed in the 8-K body text provided.
Guidance, Outlook, and Risks
Outlook: The filing references an "operational update" included in the attached press release, but specific guidance or forward-looking statements are not present in the text provided.
Risks and Contingencies: No specific risks or contingencies are detailed in the 8-K body text. The filing includes standard disclaimers that the Investor Materials are not deemed "filed" under Section 18 of the Exchange Act unless specifically incorporated by reference.
Unusual Items: The filing defines Adjusted EBITDA to exclude items such as property impairments, unrealized derivative gains/losses, and asset retirement obligation accretion, implying these may be present in the underlying financials, though specific amounts are not listed here.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Q1 2016 revenue, net income, and production figures.
- Examine Exhibit 99.2 (Presentation) for the reconciliation of Non-GAAP measures (Adjusted EBITDA, PV-10) to GAAP figures.
- Verify the specific operational update details regarding production volumes and cost management strategies mentioned in the press release.
- Confirm the status of debt and liquidity by reviewing the full financial statements referenced in the exhibits, as the 8-K text does not list these values.