Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Copper Tip Energy Services
Hazloc Heaters
Hazloc Heaters
Copper Tip Energy


Shale Driller Matador Boosts Oil Output After Record Profit


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate

(Bloomberg) Matador Resources Co. is raising oil and natural gas output after posting record results fueled by soaring worldwide energy prices.

The shale explorer expects daily production to average the equivalent of 107,000 barrels during the current quarter, up from less than 94,000 during the first three months of the year, according to a release on Tuesday.

Founder and Chief Executive Officer Joseph Foran announced the production increase after disclosing first-quarter adjusted profit of $2.32 a share that exceeded every estimate from analysts in a Bloomberg survey.

GLJ
GLJ

Matador shares initially surged on the profit announcement before surrendering most of those gains. The stock had advanced more than 35% this year.



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE