Matador Resources (MTDR) reported Q1 adjusted earnings late Wednesday of $1.99 per diluted share, up from $1.71 a year earlier.

Analysts polled by FactSet expected $1.78.

Revenue for the quarter ended March 31 was $1.01 billion, up from $787.7 million a year earlier.

Analysts surveyed by FactSet expected $964.2 million.

The company said its board authorized repurchasing up to $400 million of common shares.

Shares were up 1.6% during after-hours trading.