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Matador Resources Company
Matador Resources Company was incorporated in 2003 by Joseph Wm.
Matador Resources Company
Matador Resources Company was incorporated in 2003 by Joseph Wm. Foran, a geologist who had previously co-founded Foran & Associates, a petroleum engineering consultancy. The firm went public on the New York Stock Exchange under the ticker MTDR in 2012, raising approximately $200 million in its IPO (per SEC filings, 2012). The company operates an integrated upstream and midstream business. Its primary drilling activities target the Wolfcamp, Bone Spring, and Avalon formations in the Delaware Basin. Matador also owns a 50% stake in San Mateo Midstream, a joint venture with a subsidiary of Five Point Energy, which provides natural gas gathering, oil gathering, and water handling services (per firm's 2023 annual report). Confirmed positions include acreage in Lea and Eddy counties, New Mexico, and Loving County, Texas. As of 2025, Matador employs roughly 500 people and runs a drilling inventory of over 1,200 gross locations, according to its investor presentations. The firm also has a secondary office in Houston. It does not operate adjacent philanthropic or investment vehicles disclosed separately from the public company structure. Matador's structural differentiator is its integrated model — it both extracts and transports hydrocarbons, capturing margin on each step. The San Mateo joint venture insulates some midstream income from commodity price swings. The firm also pays a base dividend plus variable dividends tied to cash flow, signaling a capital-return discipline rare among small-cap E&P companies.
General information
Firm type
Asset Manager
Year founded
2003
AUM
$5B-$10B (Altss estimate)
Location
Region
North America
Country
United States
City
Dallas
Corporate office
Dallas, Texas, United States
Additional offices
Houston, Texas, United States
Principals
Joseph Wm. Foran
Chairman and Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Matador Resources?
Joseph Wm. Foran serves as Chairman and CEO, and is the primary decision-maker on capital allocation. The company operates with a board of directors that oversees strategy, but day-to-day drilling and M&A decisions are led by Foran and a team of geoscientists and engineers. The company's investor presentations note that capital allocation is evaluated quarterly based on commodity prices and cost structures.
Does Matador Resources participate in fund commitments or only direct deals?
Matador Resources is a publicly traded corporation, not a fund. It does not take external LP capital. Its investment is direct — using internally generated cash flow and debt financing to drill wells and acquire acreage. When making acquisitions, it typically uses a mix of stock, cash, and debt (per SEC filings).
What investment stages does Matador Resources target?
Matador targets early-stage oil and gas exploration and development within the Delaware Basin. It drills both horizontal and vertical wells, with a focus on the Wolfcamp, Bone Spring, and Avalon formations. The firm does not target later-stage acquisitions but will buy acreage in the basin when it fits its geological thesis.
Which sectors does Matador Resources explicitly avoid?
Matador explicitly avoids production outside the Delaware Basin. It does not operate in international jurisdictions, nor does it invest in renewables, power generation, or midstream assets outside its core basin. The firm's capital is entirely dedicated to oil and gas extraction and related midstream infrastructure in West Texas and Southeast New Mexico.
How is Matador Resources related to San Mateo Midstream?
Matador holds a 50% stake in San Mateo Midstream, a joint venture formed in 2018 with a subsidiary of Five Point Energy. San Mateo provides gathering, processing, and water handling services exclusively for Matador's production. The joint venture allows Matador to share infrastructure capital costs while securing dedicated capacity for its output.
What is Matador Resources' known posture on dividends?
Matador pays a base quarterly dividend, which it has increased several times since initiating it in 2023, plus variable dividends tied to free cash flow. For Q1 2025, the company declared a base dividend of $0.20 per share and a variable dividend of $0.15 per share (per the firm, May 2025). This structure signals capital-return discipline while maintaining reinvestment capacity.
Where does Matador Resources' underlying wealth come from?
As a publicly traded corporation, Matador does not have an underlying wealth source like a family office. Its capital comes from retained earnings, debt financing, and equity issuance from public markets. The founding family, led by Joseph Wm. Foran, still holds a substantial minority stake, but the firm is ultimately answerable to public shareholders.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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