Matador Resources Co. 8-K Summary
Business Context and Reporting Period
Matador Resources Co. filed this Form 8-K on November 12, 2012, to announce financial results for the three-month and nine-month periods ended September 30, 2012. The filing incorporates by reference a press release, a conference call transcript, and updated investor presentation materials.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within the attached exhibits (Press Release, Transcript, and Investor Presentation) which are referenced but not included in the provided text.
The company utilizes the following non-GAAP financial measures in its reporting:
- Adjusted EBITDA: 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 of estimated total proved reserves discounted at 10% (pre-tax).
Material Changes
The filing text does not detail specific material changes in financial performance versus prior periods. It notes only that the company has updated its investor presentation to include third-quarter 2012 results.
Guidance, Outlook, and Management Commentary
Management held a conference call and webcast on November 12, 2012, to discuss the results. Additionally, Mr. Foran is scheduled to present at the Stephens Fall Investment Conference 2012 in New York City on November 13, 2012. The filing states that the information provided in the exhibits shall not be deemed "filed" for purposes of 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 Q3 and YTD 2012.
- Examine the reconciliation of Adjusted EBITDA and PV-10 to GAAP measures in the exhibits.
- Consult Exhibit 99.2 (Transcript) for management's commentary on operational changes and future outlook.
- Verify the updated reserve estimates and production data in Exhibit 99.3 (Investor Presentation).