Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

The following table summarizes the Company’s total revenues and revenues from contracts with customers on a disaggregated basis for the years ended December 31, 2023, 2022 and 2021 (in thousands).


	Year Ended December 31,
	2023		2022		2021
Revenues from contracts with customers	$	2,817,621	$	3,196,699	$	1,862,075

Realized loss on derivatives	(9,575)		(157,483)		(220,105)
Unrealized (loss) gain on derivatives	(1,261)		18,809		21,011
Total revenues	$	2,806,785	$	3,058,025	$	1,662,981


	Year Ended December 31,
	2023		2022		2021
Oil revenues	$	2,144,894	$	2,113,606	$	1,205,608
Natural gas revenues	400,705		792,132		494,934
Third-party midstream services revenues	122,153		90,606		75,499
Sales of purchased natural gas	149,869		200,355		86,034
Total revenues from contracts with customers	$	2,817,621	$	3,196,699	$	1,862,075

Reconciliations of basic and diluted distributed and undistributed earnings (loss) per common share

The following are reconciliations of the numerators and denominators used to compute the Company’s basic and diluted earnings per common share as reported for the years ended December 31, 2023, 2022 and 2021 (in thousands, except per share data).


	Year Ended December 31,
	2023		2022		2021

Net income attributable to Matador Resources Company shareholders — numerator	$	846,074	$	1,214,206	$	584,968

Weighted average common shares outstanding — denominator
Basic	119,139		118,122		116,999
Dilutive effect of options and restricted stock units	841		2,009		2,164
Diluted weighted average common shares outstanding	119,980		120,131		119,163
Earnings per common share attributable to Matador Resources Company shareholders
Basic	$	7.10	$	10.28	$	5.00
Diluted	$	7.05	$	10.11	$	4.91