Matador eyes 5%+ production growth next year

Oil & Gas Journal · Geert De Lombaerde · 2026-11-05 00:00 UTC

Recent acquisitions helped third-quarter production top expectations and leaders are eager to get to work on recently leased federal acres.

Executives at Matador Resources Co., Dallas, say the company could post “mid-single digit growth or better” in 2027 production even after third-quarter output topped expectations and is on pace to grow further this quarter.

Helping drive that early forecast are assets in New Mexico’s Eddy and Lea counties that were recently acquired from EnCap. There, chairman and chief executive officer Joe Foran and his team plan to drill up to 25 wells by the end of next year. To that could be added another 10-12 wells on federal lands leased earlier this year and up to 15 Woodford wells.

“A shout out to the teams,” Foran said on Matador’s third-quarter earnings conference call about the company’s recent acquisitions, which included a deal by 51%-owned San Mateo Midstream LLC for Cardinal Midstream Partners. “We said, ‘We’re going to ask you all to put in a little extra time and effort to make sure this works out. And they have. And I think you’ll see the effect in our results for this quarter, but even more so in the upcoming fourth quarter.”

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