Business Context and Reporting Period
Company: Matador Resources Company
Filing Type: Form 8-K (Current Report)
Date of Report: March 15, 2013
Reporting Period Covered: Quarter and year ended December 31, 2012
This filing serves as a notification that the Company intends to make presentations to potential investors regarding its business operations and financial condition for the period ended December 31, 2012. The actual presentation materials are included as Exhibit 99.1 and incorporated by reference.
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the referenced Exhibit 99.1 (Presentation Materials).
The filing explicitly identifies the following non-GAAP financial measures utilized in the presentation materials:
- Adjusted EBITDA: Earnings before interest expense, income taxes, depletion, depreciation and amortization, accretion of asset retirement obligations, property impairments, unrealized derivative gains and losses, certain other non-cash items, non-cash stock-based compensation expense, and net gain or loss on asset sales and inventory impairment.
- PV-10: Present value discounted at 10% (pre-tax) of estimated total proved reserves.
The Company states that reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are provided in the presentation materials.
Material Changes
The filing text does not disclose specific material changes in financial condition or operations versus prior periods. It only confirms that the presentation materials cover the quarter and year ended December 31, 2012.
Guidance, Outlook, and Risks
Management Commentary: The Company has furnished presentation materials to be used in investor presentations. The filing notes that the Company believes the non-GAAP measures (Adjusted EBITDA and PV-10) provide useful information to investors, with reasons for this belief detailed in the materials.
Regulatory Status: The information furnished pursuant to Item 2.02 and Item 7.01, including Exhibit 99.1, is not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and will not be incorporated by reference into any filing under the Securities Act of 1933 unless specifically identified as such.
Risks and Contingencies: No specific risks or contingencies are detailed in the text of this 8-K filing.
Important Facts for Investor Verification
- Verify the specific financial results for the quarter and year ended December 31, 2012, by reviewing Exhibit 99.1 (Presentation Materials) attached to this filing, as the 8-K text contains no numerical data.
- Review the reconciliations between the non-GAAP measures (Adjusted EBITDA and PV-10) and GAAP measures provided in the presentation materials.
- Note that the presentation materials are not considered "filed" under Section 18 of the Exchange Act unless specifically incorporated by reference in a future filing.
- Confirm the date of the presentation materials to ensure they align with the December 31, 2012 period referenced.