Matador Resources’ San Mateo Midstream JV is acquiring Cardinal Midstream for $752 million, expanding its Delaware Basin natural gas processing capacity to more than 1 Bcf/d and increasing its gathering network to over 800 miles. The acquisition strengthens regional midstream infrastructure and positions San Mateo for higher cash flow and EBITDA growth as Delaware Basin gas production continues to expand.
Matador Resources drilled 48 wells year-to-date across Lea and Eddy counties in New Mexico while simultaneously expanding its Delaware Basin position through a $1.14 billion acquisition of 5,154 net undeveloped acres during the record-setting BLM lease sale. The acquisition adds at least 141 new operated drilling locations and is expected to strengthen San Mateo midstream volumes and revenue streams as Matador continues growing its footprint in one of North America’s most active oil and gas regions.
Matador Resources reported a strong Q1 2026 driven by production growth, operational efficiencies, disciplined capital spending, and strategic midstream advantages through San Mateo, while continuing to improve drilling performance and integrate AI-driven operational tools. The Matador Resources YTD wells drilled dataset contains 47 total wells, primarily in Lea County, NM, with Patterson rigs accounting for all drilling activity led by rigs 902, 282, and 803.
Matador’s 2026 development strategy reflects a shift to highly structured, pad-based drilling in the Delaware Basin, driven by consistent execution, contractor alignment, and predictable cadence. The company is prioritizing capital efficiency through repeatable single-zone development while selectively expanding into stacked zones to enhance long-term inventory value.
Matador Resources says its strong, long-term relationships with drilling contractors, completion providers, and equipment suppliers help ensure reliable access to rigs, pipe, and services, allowing the company to manage supply chain challenges effectively. By coordinating closely with these vendors and improving operational planning, Matador has been able to drill wells faster and reduce capital spending while maintaining production levels.
Matador Resources Company (NYSE: MTDR) capped off the third quarter of 2025 with record-breaking production, strong financial results, and another dividend increase—cementing its position as one of the most efficient and disciplined mid-cap operators in the Permian Basin.
In Q2 2025, Matador reported record quarterly production of 209,013 BOE/d, including 122,875 barrels of oil per day. These volumes exceeded prior guidance, driven by outperformance from both new wells and base production. Notably, the company turned to sales 32 gross (22.8 net) operated wells, further solidifying its execution capabilities.
Matador Resources (NYSE: MTDR) is navigating 2025 with a strategy that blends operational discipline, innovation, and balance sheet strength. After a strong first half marked by record production, strategic divestitures, and a major midstream expansion, here are five key trends to watch as Matador moves through the second half of 2025.
While the reduction trims full-year production guidance to 200,000 boe/d, down from 205,000 boe/d, the company emphasized flexibility—leaving the door open to reactivating the ninth rig later in the year if market conditions improve.
The Permian Basin is one of the most prolific oil and gas regions in the world, and among the operators vying for a competitive edge, Matador Resources (NYSE: MTDR) is rapidly gaining recognition. While larger peers like Diamondback Energy and EOG Resources dominate headlines, Matador has quietly built a reputation for innovation, strategic acquisitions, and efficient operations. Here’s why Matador Resources is an up-and-coming company to watch in the Permian Basin.
