10 High Growth Energy Stocks To Invest In

7. Matador Resources Company (NYSE:MTDR)

5-Year Revenue CAGR: 29.04%

Number of Hedge Fund Holders: 30

Matador Resources Company (NYSE:MTDR) is an independent energy company focused on exploring, developing, and producing oil and natural gas in the United States. The company primarily operates in the Delaware Basin, targeting the oil-rich Wolfcamp and Bone Spring plays, while also having interests in the Eagle Ford shale and Haynesville shale plays. Matador Resources Company (NYSE:MTDR) also provides midstream services like natural gas processing and oil transportation to support its operations and third-party clients.

In the third quarter of 2024, the company achieved record production levels, averaging 171,480 barrels of oil equivalent (BOE) per day, which exceeded their guidance by 5%. Matador Resources Company’s (NYSE:MTDR) oil production reached 100,315 barrels per day, marking a 3% increase over their guidance. This strong performance contributed to a significant rise in adjusted free cash flow, which increased by 36% to $196.1 million compared to the same period last year.

A key highlight for Matador Resources Company (NYSE:MTDR) was the successful integration of the Ameredev acquisition, completed on September 18, 2024. This acquisition added approximately 33,500 net acres and boosted production by an average of 31,500 BOE per day. The positive impact of this acquisition is already exceeding expectations.

Additionally, Matador Resources Company (NYSE:MTDR) is also focused on reducing drilling and completion costs. For the full year 2024, the company estimates costs will improve to between $925 and $935 per completed lateral foot, reflecting an 8% reduction from earlier estimates. This cost efficiency is driven by operational innovations such as U-Turn wells and remote hydraulic fracturing operations. The combination of record production, strategic acquisitions, and cost efficiencies makes Matador Resources Company (NYSE:MTDR) a compelling investment opportunity in the energy sector.