Company Overview

Matador Resources Company is an independent energy company focused primarily on the exploration, development, production, and acquisition of oil and natural gas resources in the United States. The company operates principally in the upstream energy sector, with activities concentrated in unconventional shale and tight oil formations. Its core revenue drivers are crude oil, natural gas, and natural gas liquids production, supplemented by midstream-related services through affiliated infrastructure operations. Matador’s operations are heavily weighted toward the Permian Basin, particularly the Delaware Basin sub-region, which is considered one of the most productive hydrocarbon regions in North America.

The company was founded in 2003 by Joseph Wm. Foran and later became publicly traded on the New York Stock Exchange under the ticker MTDR in 2012. Over time, Matador evolved from a smaller independent exploration company into a larger integrated upstream and midstream operator through acreage acquisitions, drilling expansion, and infrastructure development. Its strategic positioning is supported by concentrated acreage holdings, operational scale in core basins, and vertically integrated infrastructure through its midstream subsidiaries, which help manage transportation, gathering, and processing costs.

Business Operations

Matador conducts business primarily through its Exploration and Production and Midstream Operations segments. The Exploration and Production segment generates the majority of company revenue through the development and production of oil and natural gas assets, primarily in the Delaware Basin of West Texas and New Mexico. The company also has historical and limited operations in regions including the Eagle Ford Shale in South Texas and the Haynesville Shale in Louisiana. Revenue is driven by hydrocarbon production volumes and commodity pricing, with the company utilizing horizontal drilling and hydraulic fracturing technologies to develop unconventional resources.

Its midstream business is largely conducted through San Mateo Midstream, LLC, a joint venture that owns and operates gathering systems, saltwater disposal assets, processing infrastructure, and pipeline connections supporting Matador’s upstream operations. The company’s infrastructure assets help improve operational efficiency and reduce dependence on third-party systems. Matador has also entered into transportation, processing, and marketing agreements with various energy infrastructure providers and maintains operational relationships with oilfield service companies, pipeline operators, and regional processors across its core producing areas.

Strategic Position & Investments

Matador’s strategic direction has centered on disciplined production growth, operational efficiency, and expansion within high-return acreage positions in the Permian Basin. The company has pursued acquisitions to expand its drilling inventory and strengthen its operational footprint. One of its notable transactions was the acquisition of Advance Energy Partners Holdings, LLC, which expanded Matador’s Delaware Basin acreage position and production profile. The company has also invested significantly in infrastructure development through San Mateo Midstream, LLC, enabling greater control over gathering, transportation, and water handling systems.

The company has emphasized capital allocation strategies designed to balance production growth, debt management, shareholder returns, and infrastructure integration. Matador continues to invest in drilling inventory optimization, enhanced completion techniques, and data-driven reservoir development. Its strategic positioning in liquids-rich resource plays provides exposure to oil-weighted production economics, while its integrated infrastructure platform supports long-term operating margins and scalability.

Geographic Footprint

Matador’s operations are concentrated within the United States, with its primary producing assets located in the Permian Basin across West Texas and Southeastern New Mexico. The company maintains a particularly strong presence in the Delaware Basin, where much of its drilling inventory, infrastructure investment, and production activity are located. Additional operational interests have historically included areas in South Texas and Louisiana, although the company’s strategic focus remains predominantly on the Permian region.

The company is headquartered in Dallas, Texas, and its operational footprint is domestic rather than international. While Matador does not maintain significant overseas operations, its production contributes to global energy supply chains through U.S. crude oil and natural gas markets. Its infrastructure investments and market access arrangements connect production to major refining, transportation, and export networks within North America.

Leadership & Governance

Matador Resources Company was founded by Joseph Wm. Foran, who has remained a central figure in shaping the company’s operational and financial strategy. Leadership has consistently emphasized disciplined capital allocation, operational efficiency, balance sheet management, and long-term shareholder value creation. Governance oversight is provided through the company’s board of directors and executive leadership team, with public disclosures and operational reporting aligned with SEC filings and NYSE governance standards.

Key executives include:

• Joseph Wm. Foran – Chairman and Chief Executive Officer
• Christopher P. Calvert – Executive Vice President, Chief Financial Officer, and Head of Strategy
• William Thomas Elsener – Executive Vice President and Chief Operating Officer
• Monica M. Karuturi – Executive Vice President, General Counsel, and Head of Human Resources
• Robert T. Macalik – Executive Vice President of Exploration

The company’s leadership approach has focused on maintaining operational concentration in core assets, integrating upstream and midstream capabilities, and pursuing measured expansion within economically attractive resource plays. Public company disclosures and investor communications consistently emphasize returns-focused development and infrastructure-supported production growth.