XML 33 R21.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2017
Debt Disclosure [Abstract] |
Condensed Balance Sheet | The following presents condensed consolidating financial information on an issuer (Matador), Non-Guarantor Subsidiaries, Guarantor Subsidiaries and consolidated basis (in thousands). Elimination entries are necessary to combine the entities. This financial information is presented in accordance with the requirements of Rule 3-10 of Regulation S-X. The following financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantor Subsidiaries operated as independent entities.
Condensed Consolidating Balance Sheet March 31, 2017
|  | Matador |  | Non-Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminating Entries |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Intercompany receivable |  | $ | 389,913 |  |  | $ | 2,762 |  |  | $ | — |  |  | $ | (392,675 | ) |  | $ | — |
Other current assets |  | 1,850 |  |  | 15,153 |  |  | 292,973 |  |  | — |  |  | 309,976 |
Net property and equipment |  | 4 |  |  | 124,974 |  |  | 1,248,237 |  |  | — |  |  | 1,373,215 |
Investment in subsidiaries |  | 1,052,474 |  |  | — |  |  | 65,812 |  |  | (1,118,286 | ) |  | — |
Other long-term assets |  | — |  |  | — |  |  | 3,202 |  |  | — |  |  | 3,202 |
Total assets |  | $ | 1,444,241 |  |  | $ | 142,889 |  |  | $ | 1,610,224 |  |  | $ | (1,510,961 | ) |  | $ | 1,686,393 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |
Intercompany payable |  | $ | — |  |  | $ | — |  |  | $ | 392,675 |  |  | $ | (392,675 | ) |  | $ | — |
Other current liabilities |  | 18,008 |  |  | 13,272 |  |  | 136,025 |  |  | — |  |  | 167,305 |
Senior unsecured notes payable |  | 573,968 |  |  | — |  |  | — |  |  | — |  |  | 573,968 |
Other long-term liabilities |  | — |  |  | 574 |  |  | 29,050 |  |  | — |  |  | 29,624 |
Total equity attributable to Matador Resources Company |  | 852,265 |  |  | 65,812 |  |  | 1,052,474 |  |  | (1,118,286 | ) |  | 852,265 |
Non-controlling interest in subsidiaries |  | — |  |  | 63,231 |  |  | — |  |  | — |  |  | 63,231 |
Total liabilities and equity |  | $ | 1,444,241 |  |  | $ | 142,889 |  |  | $ | 1,610,224 |  |  | $ | (1,510,961 | ) |  | $ | 1,686,393 |
Condensed Consolidating Balance Sheet December 31, 2016
|  | Matador |  | Non-Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminating Entries |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Intercompany receivable |  | $ | 316,791 |  |  | $ | 3,571 |  |  | $ | 12,091 |  |  | $ | (332,453 | ) |  | $ | — |
Other current assets |  | 101,102 |  |  | 4,242 |  |  | 173,838 |  |  | — |  |  | 279,182 |
Net property and equipment |  | 33 |  |  | 113,107 |  |  | 1,071,385 |  |  | — |  |  | 1,184,525 |
Investment in subsidiaries |  | 856,762 |  |  | — |  |  | 90,275 |  |  | (947,037 | ) |  | — |
Other long-term assets |  | — |  |  | — |  |  | 958 |  |  | — |  |  | 958 |
Total assets |  | $ | 1,274,688 |  |  | $ | 120,920 |  |  | $ | 1,348,547 |  |  | $ | (1,279,490 | ) |  | $ | 1,464,665 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |
Intercompany payable |  | $ | — |  |  | $ | 12,091 |  |  | $ | 320,362 |  |  | $ | (332,453 | ) |  | $ | — |
Other current liabilities |  | 9,265 |  |  | 16,632 |  |  | 143,608 |  |  | — |  |  | 169,505 |
Senior unsecured notes payable |  | 573,924 |  |  | — |  |  | — |  |  | — |  |  | 573,924 |
Other long-term liabilities |  | 1,374 |  |  | 602 |  |  | 27,815 |  |  | — |  |  | 29,791 |
Total equity attributable to Matador Resources Company |  | 690,125 |  |  | 90,275 |  |  | 856,762 |  |  | (947,037 | ) |  | 690,125 |
Non-controlling interest in subsidiaries |  | — |  |  | 1,320 |  |  | — |  |  | — |  |  | 1,320 |
Total liabilities and equity |  | $ | 1,274,688 |  |  | $ | 120,920 |  |  | $ | 1,348,547 |  |  | $ | (1,279,490 | ) |  | $ | 1,464,665 |
Condensed Income Statement |
Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2017
|  | Matador |  | Non-Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminating Entries |  | Consolidated
Total revenues |  | $ | — |  |  | $ | 9,663 |  |  | $ | 132,648 |  |  | $ | (7,497 | ) |  | $ | 134,814 |
Total expenses |  | 1,260 |  |  | 3,868 |  |  | 82,905 |  |  | (7,497 | ) |  | 80,536 |
Operating (loss) income |  | (1,260 | ) |  | 5,795 |  |  | 49,743 |  |  | — |  |  | 54,278 |
Net gain on asset sales and inventory impairment |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Interest expense |  | (8,455 | ) |  | — |  |  | — |  |  | — |  |  | (8,455 | )
Other income |  | 27 |  |  | — |  |  | 43 |  |  | — |  |  | 70 |
Earnings in subsidiaries |  | 53,672 |  |  | — |  |  | 3,825 |  |  | (57,497 | ) |  | — |
Income before income taxes |  | 43,984 |  |  | 5,795 |  |  | 53,618 |  |  | (57,497 | ) |  | 45,900 |
Total income tax provision (benefit) |  | — |  |  | 54 |  |  | (54 | ) |  | — |  |  | — |
Net income attributable to non-controlling interest in subsidiaries |  | — |  |  | (1,916 | ) |  | — |  |  | — |  |  | (1,916 | )
Net income attributable to Matador Resources Company shareholders |  | $ | 43,984 |  |  | $ | 3,825 |  |  | $ | 53,672 |  |  | $ | (57,497 | ) |  | $ | 43,984 |
Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2016
|  | Matador |  | Non-Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminating Entries |  | Consolidated
Total revenues |  | $ | — |  |  | $ | 1,317 |  |  | $ | 44,047 |  |  | $ | (741 | ) |  | $ | 44,623 |
Total expenses |  | 1,935 |  |  | 1,133 |  |  | 143,925 |  |  | (741 | ) |  | 146,252 |
Operating (loss) income |  | (1,935 | ) |  | 184 |  |  | (99,878 | ) |  | — |  |  | (101,629 | )
Net gain on asset sales and inventory impairment |  | — |  |  | — |  |  | 1,065 |  |  | — |  |  | 1,065 |
Interest expense |  | (6,875 | ) |  | — |  |  | (322 | ) |  | — |  |  | (7,197 | )
Other income |  | — |  |  | — |  |  | 94 |  |  | — |  |  | 94 |
(Loss) earnings in subsidiaries |  | (98,851 | ) |  | — |  |  | 190 |  |  | 98,661 |  |  | — |
(Loss) income before income taxes |  | (107,661 | ) |  | 184 |  |  | (98,851 | ) |  | 98,661 |  |  | (107,667 | )
Total income tax (benefit) provision |  | (7 | ) |  | 7 |  |  | — |  |  | — |  |  | — |
Net loss attributable to non-controlling interest in subsidiaries |  | — |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
Net (loss) income attributable to Matador Resources Company shareholders |  | $ | (107,654 | ) |  | $ | 190 |  |  | $ | (98,851 | ) |  | $ | 98,661 |  |  | $ | (107,654 | )
Condensed Cash Flow Statement |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2017
|  | Matador |  | Non-Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminating Entries |  | Consolidated
Net cash (used in) provided by operating activities |  | $ | (99,235 | ) |  | $ | (1,064 | ) |  | $ | 161,608 |  |  | $ | — |  |  | $ | 61,309 |
Net cash provided by (used in) investing activities |  | 29 |  |  | (32,950 | ) |  | (63,359 | ) |  | (142,040 | ) |  | (238,320 | )
Net cash provided by financing activities |  | — |  |  | 31,707 |  |  | 85 |  |  | 142,040 |  |  | 173,832 |
(Decrease) increase in cash |  | (99,206 | ) |  | (2,307 | ) |  | 98,334 |  |  | — |  |  | (3,179 | )
Cash at beginning of period |  | 99,795 |  |  | 2,307 |  |  | 110,782 |  |  | — |  |  | 212,884 |
Cash at end of period |  | $ | 589 |  |  | $ | — |  |  | $ | 209,116 |  |  | $ | — |  |  | $ | 209,705 |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2016
|  | Matador |  | Non-Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminating Entries |  | Consolidated
Net cash (used in) provided by operating activities |  | $ | (5,663 | ) |  | $ | 4,294 |  |  | $ | 19,727 |  |  | $ | — |  |  | $ | 18,358 |
Net cash used in investing activities |  | (109,810 | ) |  | (26,482 | ) |  | (53,675 | ) |  | 132,035 |  |  | (57,932 | )
Net cash provided by financing activities |  | 141,736 |  |  | 22,225 |  |  | 109,245 |  |  | (132,035 | ) |  | 141,171 |
Increase in cash |  | 26,263 |  |  | 37 |  |  | 75,297 |  |  | — |  |  | 101,597 |
Cash at beginning of period |  | 80 |  |  | 186 |  |  | 16,466 |  |  | — |  |  | 16,732 |
Cash at end of period |  | $ | 26,343 |  |  | $ | 223 |  |  | $ | 91,763 |  |  | $ | — |  |  | $ | 118,329 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration