Matador Resources Business Summary

Matador Resources Company (MTDR) is an independent energy firm primarily engaged in the exploration, development, and production of oil and natural gas, with a strategic concentration in the Delaware Basin of the Permian Basin and the Eagle Ford Shale. The company operates through two primary business segments: Exploration and Production (E&P), which generates the majority of revenue through the sale of oil and natural gas production, and Midstream, which provides gathering, transportation, and processing services via its 51%-owned San Mateo Midstream joint venture. Matador distinguishes itself through a high-intensity development program and a focus on operational efficiency, maintaining some of the industry's lowest finding and drilling costs. Its competitive landscape includes mid-to-large-cap peers such as Diamondback Energy (FANG), Devon Energy (DVN), Chord Energy (CHRD), and Magnolia Oil & Gas (MGY), where Matador positions itself as a top-tier operator in the Delaware Basin with a robust 10-to-15-year inventory of drilling locations. Leadership is anchored by Founder, Chairman, and CEO Joseph Wm. Foran, who established the company in 2003 following the successful $750 million sale of his previous venture, Matador Petroleum Corporation. The executive team includes Co-Presidents Van H. Singleton II (Land and Planning) and Bryan A. Erman (Chief Legal Officer and M&A), alongside EVP and CFO Robert T. Macalik and EVP and COO Christopher P. Calvert. This seasoned management group, which averages over five years of tenure at the firm, is supported by a board of directors featuring Lead Independent Director Timothy E. Parker and notable members such as Shelley F. Appel and Monika U. Ehrman. The company’s pedigree is rooted in a disciplined capital allocation strategy that has transitioned Matador from a private-equity-backed startup to the largest publicly traded E&P company headquartered in the Dallas-Fort Worth area by revenue.