Matador Resources (NYSE: MTDR) reported Q3 EPS of $0.48, $0.12 better than the analyst estimate of $0.36. Revenue for the quarter came in at $207.18 million versus the consensus estimate of $205.49 million.

Production Guidance

At October 31, 2018, Matador estimates that its full-year 2018 total oil equivalent production should increase by approximately 33% year-over-year to 18.9 million BOE, including an approximate 41% year-over-year increase in oil production to 11.05 million barrels (both percentages based on the midpoint of the Company’s updated guidance) due to better-than-expected performance in the third quarter of 2018. Matador estimates that its oil and natural gas production in the fourth quarter of 2018 will be relatively flat as compared to the third quarter of 2018. The Company expects to have a number of wells shut in during the fourth quarter as nearby offset wells are completed.

Matador also estimates that its Adjusted EBITDA should increase approximately 62% year-over-year to $545 million at the midpoint of the Company’s updated guidance, which is an increase of $40 million from the midpoint of Matador’s guidance as provided on August 1, 2018 and an increase of $105 million from the midpoint of Matador’s original 2018 guidance as provided on February 21, 2018.

Given its strong financial position, including $472 million of available borrowing capacity at October 31, 2018 under its recently amended credit facility and its anticipated cash flows, Matador believes that it has sufficient liquidity to execute its drilling and completion and midstream activities for the remainder of 2018 and for all of 2019.

For earnings history and earnings-related data on Matador Resources (MTDR) click here.