Matador Resources continues to demonstrate disciplined growth and operational consistency across its Delaware Basin assets, positioning itself as one of the most efficient independent producers in the Permian region. Through a focus on capital discipline, core-zone development, and strong contractor partnerships, the company has sustained high-margin production while maintaining a robust drilling cadence. This report provides a summary of Matador’s 2025 well activity and a forward-looking view of its 2026 production, capital expenditures, and inventory profile, highlighting the company’s ability to deliver durable free cash flow and long-term development visibility.
New Mexico Oil & Gas Operator Account Directory
Includes: Account Name, Location, Phone, Website, Wells Drilled….
Production & Financials (2026 Model)
- Modeled Output: 200,000 BOE/d
- Includes 117,000 bbl/d oil, balance in NGLs and gas.
- Revenues (at current strip): ~$3.23 billion
- Assumptions: $58.50 oil, $3.95 gas.
- Capital Expenditures: ~$1.4 billion (flat YoY).
- Focus on sustaining production and maximizing Delaware Basin returns.
Inventory & Longevity
- 1,667 net operated locations in the Delaware Basin, equivalent to a 15-year inventory at the current pace.
- Adjusted for lower-activity zones (Brushy Canyon, Avalon, etc.), core inventory ≈ 10–11 years.
- Future development remains concentrated in core Bone Spring and Wolfcamp formations for efficiency and returns.
2025 Wells Drilled Report Summary
🧾 Total Wells
- 111 wells drilled year-to-date (2025).
📍 Wells by County
| County | Wells |
|---|---|
| Lea | 73 |
| Eddy | 29 |
| Ward | 5 |
| Loving | 4 |
- Lea County dominates with two-thirds of total activity (65.8%).
📆 Wells by Month (2025)
| Month | Wells |
|---|---|
| January | 11 |
| February | 14 |
| March | 13 |
| April | 7 |
| May | 12 |
| June | 11 |
| July | 13 |
| August | 11 |
| September | 18 |
| October | 1 |
- September marked the most active month with 18 wells spud, signaling a late-year acceleration.
⚙️ Wells by Contractor & Rig
Matador maintains a concentrated drilling program dominated by Patterson-UTI rigs:
Contractor Rig Wells Patterson 256 13 Patterson 282 8 Patterson 295 6 Patterson 297 15 Patterson 298 13 (additional Patterson rigs active in lower volumes)
- Patterson rigs account for >90% of Matador’s total 2025 activity, reflecting deep operational consistency and preferred vendor alignment.
Key Insights
- Operational Focus: Steady Capex and rig utilization highlight disciplined capital management aimed at sustaining ~200 MBOE/d through 2026.
- Inventory Health: Core Delaware Basin zones sustain double-digit development years at current cadence.
- Contractor Dependence: Heavy reliance on Patterson-UTI underscores long-term service partnerships and cost predictability.
- Geographic Concentration: Over 65% of 2025 wells located in Lea County, NM, consistent with Matador’s highest-return acreage.
Matador Resources’ 2025 drilling performance reflects a company operating with precision, consistency, and strategic foresight. Concentrated activity in the core Delaware Basin, steady capital deployment, and a disciplined approach to rig utilization have positioned Matador for sustainable production growth through 2026 and beyond. With more than a decade of high-quality inventory remaining and a focus on the Bone Spring and Wolfcamp formations, the company is well equipped to generate stable cash flow even in a moderate commodity price environment. As Matador enters 2026, its combination of operational efficiency, strong balance sheet management, and long-term development depth reinforces its status as a leading independent in the U.S. shale landscape.
