Matador Resources Company is an independent oil and natural gas exploration and production company focused on unconventional shale plays in the Delaware Basin of Southeast New Mexico and West Texas, as well as in Northwest Louisiana. The company generates revenue primarily by producing and selling crude oil and natural gas under market-indexed purchase agreements, with supplementary income from its 51%-owned midstream joint venture that provides natural gas processing, gathering, and produced water disposal services to both Matador operations and third-party customers. Matador's business model emphasizes operational efficiency through concentrated and contiguous asset holdings, horizontal drilling expertise, and integrated midstream infrastructure that supports production activities and cost optimization.