At current commodity prices and service costs, Matador Resources Company says its average output could rise by a mid-single-digit percentage or more in full-year 2027 compared with full-year 2026.
Third-quarter production averaged 230,470 barrels of oil equivalent (BOE) per day, 10% more than in the same period of 2025. The midpoint of Matador’s revised full-year 2026 production guidance is 7% above production at year-end 2025. That figure is a forecast comparison, while the third-quarter average is reported production. The 2027 outlook compares full-year average production with full-year 2026.
Matador projects fourth-quarter production to average 238,000 to 242,000 BOE per day. This is the company’s next stated output range after the third-quarter result and ahead of its 2027 estimate.
Natural gas sales shifted through the Hugh Brinson pipeline after it began operating Sept. 1. Matador said pricing through the pipeline was better than Waha prices and linked the change to higher gas realizations. The company also reported higher gas volumes.
Matador recorded $162 million in natural gas revenue in the third quarter, following negative $39 million in the second. Before realized derivatives, the company’s gas price rose to $2.99 per thousand cubic feet in the third quarter from negative $0.79 in the second. After realized derivatives, the prices were $2.81 per thousand cubic feet for the third quarter and $1.24 for the second. The revenue figures are quarterly amounts; the gas prices are realized prices per thousand cubic feet.
Matador said it repaid $150 million in debt in October, against a previously stated goal of repaying $350 million to $400 million by the end of 2026. Long-term sales agreements with Gulf Coast liquefaction companies are expected to take effect in the first quarter of 2027. Matador expects better gas prices after its agreements with Gulf Coast liquefaction companies take effect in the first quarter of 2027.
