Matador Resources Company

Good morning, ladies and gentlemen. Welcome to the fourth quarter and full year 2023 MetaDOR Resources Company Earnings Conference Call. My name is Tanya, and I'll be serving as the operator for today. At this time, all participants are in a listen-only mode. We will facilitate a question and answer session at the end of the company's remarks. As a reminder, this conference is being recorded. for replay purposes, and the replay will be available on the company's website for as one year as discussed in the company's earnings press release issued yesterday. I will now turn the call over to Mr. Matt Schmidt, Vice President, Investor Relations for Matador. Mr. Schmidt, you may begin.

Thank you, Tanya, and good morning, everyone, and thank you for joining us for Matador's fourth quarter and full year 2023 earnings conference call. Some of the presenters today will reference certain non-GAAP financial measures regularly used by Matador Resources in measuring the company's financial performance. Reconciliations of such non-GAAP financial measures with the comparable financial measures calculated in accordance with GAAP are contained at the end of the company's earnings press release. As a reminder, certain statements included in this morning's presentation may be forward-looking and reflect the company's current expectations or forecasts of future events based on the information that is now available. Actual results and future events could differ materially from those anticipated in such statements. Additional information concerning factors that could cause actual results to differ materially is contained in the company's earnings release and its most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. In addition to our earnings press release issued yesterday, I would like to remind everybody that you can find a slide presentation in connection with the fourth quarter and full year 2023 earnings release under the Investor Relations tab on our corporate website. And with that, I would now like to turn the call over to Mr. Joe Foran, our founder, chairman, and CEO. Joe?

Thank you, Mac, and thank you all for taking the time to listen in. This has been – last year was a very important year for us, and this – year has taken on growing importance, too. The first thing that I'd like to mention is simply that it's been a remarkable year in that production is up, revenues are up, acreage is up 18%, inventory, of course, is up, and our dividends are up. While costs are down, including LOE is down, drilling costs are down, G&A is down, and the debt is down. So that's the big picture. Now, but we're trying to improve around all the edges on that. But that's the basic story. Things are headed in the right avenue. The second thing, I'd just like to... point out that we've absorbed the advanced acreage and acquisition that's the largest to date and it's integrated very well. We owe a shout out to the professionalism. The AmeriDev people were very professional in the handoff. It went very smoothly and we're delighted by how efficient and how the production and the ROC have exceeded expectations. So, uh, thanks to them, uh, we're trying to put those assets to full work and you'll be getting a report on that. And those were two of the main points that I wanted to get across, uh, to start the conversation. And now we're ready for your questions.