# Matador Resources Co

Summary updated: 2026-10-02T15:38:43.79107Z
Canonical: https://finbar.com/research/companies/matador-resources-co

## Overview

Matador Resources Co. is an independent U.S. energy company focused on exploring for, developing, producing and acquiring oil and natural gas, particularly from shale and other unconventional formations. Its midstream business provides services including gas processing, oil transportation, gathering and produced-water handling. [1](https://app.finbar.com/go?id=P113509336)

Its principal operating areas are the Delaware Basin of southeast New Mexico and West Texas, where it produces from the Wolfcamp and Bone Spring plays, and the Haynesville shale and Cotton Valley areas of northwest Louisiana. The company’s stated business goal is to grow oil and natural-gas reserves, production and cash flows while pursuing attractive returns on invested capital. [1](https://app.finbar.com/go?id=P113509336)[2](https://www.matadorresources.com/about/strategies-and-heritage)

Matador was founded in 2003. For the year ended December 31, 2025, it reported $3.24 billion in oil and natural-gas revenue and 483 employees. [3](https://app.finbar.com/go?id=P95403454)[4](https://app.finbar.com/go?id=P15973624)[5](https://www.sec.gov/Archives/edgar/data/1520006/000152000626000002/mtdr-20251231.htm)
[1](https://app.finbar.com/go?id=P113509336)[3](https://app.finbar.com/go?id=P95403454)[4](https://app.finbar.com/go?id=P15973624)[2](https://www.matadorresources.com/about/strategies-and-heritage)[5](https://www.sec.gov/Archives/edgar/data/1520006/000152000626000002/mtdr-20251231.htm)

## Products & services

Matador’s products include crude oil and natural gas produced from its operations; its reported production stream for natural gas includes NGLs rather than reporting them separately. It also periodically purchases third-party natural gas for resale or processing, selling the resulting residue gas and NGLs. In 2025, it reported $2.84 billion in oil revenue and $398.6 million in natural-gas revenue—approximately 88% and 12%, respectively, of direct oil-and-gas revenue. [6](https://app.finbar.com/go?id=P97491185)[7](https://app.finbar.com/go?id=P70892959)[8](https://app.finbar.com/go?id=P9655426)[4](https://app.finbar.com/go?id=P15973624)

Through San Mateo, Matador provides natural-gas gathering and processing, oil transportation, oil and gas gathering, and produced-water gathering and disposal services, including to third parties and working-interest owners. Third-party midstream revenue in 2025 was $164.7 million, comprising $90.3 million from natural-gas gathering and processing, $23.7 million from oil transportation, and $50.7 million from produced-water disposal. [6](https://app.finbar.com/go?id=P97491185)[9](https://app.finbar.com/go?id=P108791381)

Matador’s 2026 company materials describe San Mateo’s integrated system as having over 1 Bcf per day of designed natural-gas processing capacity, more than 1,000 miles of pipelines, and 20 saltwater-disposal wells. [10](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-reports-second-quarter-2026-results)[2](https://www.matadorresources.com/about/strategies-and-heritage)
[6](https://app.finbar.com/go?id=P97491185)[7](https://app.finbar.com/go?id=P70892959)[8](https://app.finbar.com/go?id=P9655426)[4](https://app.finbar.com/go?id=P15973624)[9](https://app.finbar.com/go?id=P108791381)[10](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-reports-second-quarter-2026-results)[2](https://www.matadorresources.com/about/strategies-and-heritage)

## Geographic presence

Matador Resources’ operations are concentrated in the Delaware Basin of Southeast New Mexico and West Texas, with additional operations in Northwest Louisiana. At December 31, 2025, its Delaware Basin position comprised approximately 354,600 gross and 212,500 net acres, mainly in Lea and Eddy Counties, New Mexico, and Loving, Ward and Winkler Counties, Texas. Named areas include Ranger, Arrowhead, Rustler Breaks, Antelope Ridge, Stateline, Twin Lakes and West Texas. [11](https://app.finbar.com/go?id=P116367141)

In Northwest Louisiana, Matador reported approximately 18,500 gross and 17,300 net acres at year-end 2025, with acreage associated with the Haynesville and Cotton Valley plays; the acreage figures reported for those plays overlap and should not be added together. [12](https://app.finbar.com/go?id=P93054413) Its principal executive office is in Dallas, Texas. [13](https://app.finbar.com/go?id=P72516864)
[11](https://app.finbar.com/go?id=P116367141)[12](https://app.finbar.com/go?id=P93054413)[13](https://app.finbar.com/go?id=P72516864)

## Business segments

Matador reports two business segments: **Exploration and production (E&P)** and **Midstream**. E&P explores for, develops, produces and acquires oil and natural gas, primarily in the Delaware Basin, with additional operations in the Haynesville shale and Cotton Valley. Midstream provides gathering, processing, transportation and produced-water handling and disposal services, supporting Matador’s E&P operations and third parties; most of its Delaware Basin midstream operations are conducted through San Mateo. [14](https://app.finbar.com/go?id=P116969930)[15](https://app.finbar.com/go?id=P154566006)

Based on the 2025 segment figures, E&P accounted for approximately **82.5%** and Midstream **17.5%** of their combined stand-alone segment revenue, before consolidation eliminations. E&P represented about **79%** of the two segments’ combined operating income, while Midstream represented about **21%**; these operating-income shares exclude corporate costs. [16](https://app.finbar.com/go?id=T352757)[17](https://app.finbar.com/go?id=P115268045)
[14](https://app.finbar.com/go?id=P116969930)[15](https://app.finbar.com/go?id=P154566006)[16](https://app.finbar.com/go?id=T352757)[17](https://app.finbar.com/go?id=P115268045)

## Company history

Joseph Wm. Foran founded Foran Oil Company in 1983 and Matador Petroleum Corporation in 1988. After selling Matador Petroleum in 2003, he founded Matador Resources in July of that year. [18](https://app.finbar.com/go?id=P184826795)[3](https://app.finbar.com/go?id=P95403454) In late 2010, the company shifted its strategy toward oil- and liquids-rich shale plays; it became a public company in 2012. [2](https://www.matadorresources.com/about/strategies-and-heritage)[19](https://www.sec.gov/Archives/edgar/data/1520006/000119312512369428/d402069dex991.htm)

Matador expanded its midstream operations alongside its Delaware Basin activity: it sold its Loving County processing system in 2015 while retaining gathering infrastructure, then formed the San Mateo joint venture with Five Point in 2017. [20](https://app.finbar.com/go?id=P184826919)[21](https://app.finbar.com/go?id=P184826836) In 2023, it completed the Advance Energy Partners acquisition, adding producing properties, undeveloped acreage and midstream assets in the Delaware Basin region. [22](https://app.finbar.com/go?id=P68846964) The following year, it completed the larger Ameredev acquisition, adding further New Mexico and Texas properties and an interest in Piñon Midstream’s parent. [23](https://app.finbar.com/go?id=P5394763)[24](https://app.finbar.com/go?id=P9015933)

In 2025, Matador sold its remaining Eagle Ford positions. [25](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-sale-its-eagle-ford-assets) In 2026, its San Mateo joint venture completed the Cardinal Midstream acquisition, and Matador closed its Paloma Permian acquisition, continuing its expansion in the Permian region. [26](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-successful-closing-san)[27](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-closes-paloma-acquisition-and-provides)
[18](https://app.finbar.com/go?id=P184826795)[3](https://app.finbar.com/go?id=P95403454)[2](https://www.matadorresources.com/about/strategies-and-heritage)[19](https://www.sec.gov/Archives/edgar/data/1520006/000119312512369428/d402069dex991.htm)[20](https://app.finbar.com/go?id=P184826919)[21](https://app.finbar.com/go?id=P184826836)[22](https://app.finbar.com/go?id=P68846964)[23](https://app.finbar.com/go?id=P5394763)[24](https://app.finbar.com/go?id=P9015933)[25](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-sale-its-eagle-ford-assets)[26](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-successful-closing-san)[27](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-closes-paloma-acquisition-and-provides)[2](https://www.matadorresources.com/about/strategies-and-heritage)[19](https://www.sec.gov/Archives/edgar/data/1520006/000119312512369428/d402069dex991.htm)[25](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-sale-its-eagle-ford-assets)[26](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-successful-closing-san)[27](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-closes-paloma-acquisition-and-provides)

## Sources

1. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P113509336)
2. [www.matadorresources.com](https://www.matadorresources.com/about/strategies-and-heritage)
3. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P95403454)
4. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P15973624)
5. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1520006/000152000626000002/mtdr-20251231.htm)
6. [Matador Resources Co — Full financial report (2026 Q 1)](https://app.finbar.com/go?id=P97491185)
7. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P70892959)
8. [Matador Resources Co — Full financial report (2026 Q 1)](https://app.finbar.com/go?id=P9655426)
9. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P108791381)
10. [www.matadorresources.com](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-reports-second-quarter-2026-results)
11. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P116367141)
12. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P93054413)
13. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P72516864)
14. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P116969930)
15. [Matador Resources Co — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P154566006)
16. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=T352757)
17. [Matador Resources Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P115268045)
18. [Matador Resources Co — Full financial report (2017 Y)](https://app.finbar.com/go?id=P184826795)
19. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1520006/000119312512369428/d402069dex991.htm)
20. [Matador Resources Co — Full financial report (2017 Y)](https://app.finbar.com/go?id=P184826919)
21. [Matador Resources Co — Full financial report (2017 Y)](https://app.finbar.com/go?id=P184826836)
22. [Matador Resources Co — Full financial report (2023 Y)](https://app.finbar.com/go?id=P68846964)
23. [Matador Resources Co — Full financial report (2024 Y)](https://app.finbar.com/go?id=P5394763)
24. [Matador Resources Co — Full financial report (2024 Y)](https://app.finbar.com/go?id=P9015933)
25. [www.matadorresources.com](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-sale-its-eagle-ford-assets)
26. [www.matadorresources.com](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-successful-closing-san)
27. [www.matadorresources.com](https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-closes-paloma-acquisition-and-provides)

AI-generated summary; may contain errors. Not investment advice. Sign up to Finbar to view original document sources and access worldwide fundamental financial data and intelligence.