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CONDENSED CONSOLIDATED BALANCE SHEETS — UNAUDITED - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash $ 15,242 $ 52,662
Restricted cash 48,661 53,636
Accounts receivable    
Oil and natural gas revenues 294,019 274,192
Joint interest billings 204,931 163,660
Other 29,090 35,102
Derivative instruments 5,590 2,112
Lease and well equipment inventory 38,046 41,808
Prepaid expenses and other current assets 102,861 92,700
Total current assets 738,440 715,872
Oil and natural gas properties, full-cost method    
Evaluated 10,376,411 9,633,757
Unproved and unevaluated 1,478,247 1,193,257
Midstream properties 1,448,343 1,318,015
Other property and equipment 41,995 40,375
Less accumulated depletion, depreciation and amortization (5,667,208) (5,228,963)
Net property and equipment 7,677,788 6,956,441
Other assets    
Derivative instruments 2,030 558
Other long-term assets 100,133 54,125
Total other assets 102,163 54,683
Total assets 8,518,391 7,726,996
Current liabilities    
Accounts payable 96,241 68,185
Accrued liabilities 388,353 365,848
Royalties payable 195,795 161,983
Amounts due to affiliates 19,576 28,688
Derivative instruments 14,704 0
Advances from joint interest owners 56,439 19,954
Other current liabilities 85,433 40,617
Total current liabilities 856,541 685,275
Long-term liabilities    
Borrowings under Credit Agreement 95,000 500,000
Borrowings under San Mateo Credit Facility 512,000 522,000
Senior unsecured notes payable 1,374,596 1,184,627
Asset retirement obligations 93,952 87,485
Deferred income taxes 673,955 581,439
Other long-term liabilities 56,742 38,482
Total long-term liabilities 2,806,245 2,914,033
Commitments and contingencies
Shareholders’ equity    
Common stock - $0.01 par value, 160,000,000 shares authorized; 124,885,730 and 119,478,282 shares issued; and 124,811,349 and 119,458,674 shares outstanding, respectively 1,249 1,194
Additional paid-in capital 2,483,075 2,133,172
Retained earnings 2,150,292 1,776,541
Treasury stock, at cost, 74,381 and 19,608 shares, respectively (2,990) (45)
Total Matador Resources Company shareholders’ equity 4,631,626 3,910,862
Non-controlling interest in subsidiaries 223,979 216,826
Total shareholders’ equity 4,855,605 4,127,688
Total liabilities and shareholders’ equity $ 8,518,391 $ 7,726,996