8-K: Matador Resources Announces Key Leadership Promotions, Bolstering Midstream Growth Strategy

Matador Resources Company and its midstream affiliate, San Mateo Midstream, announced several strategic leadership promotions, effective June 11, 2025, aimed at strengthening the company's executive team and supporting its growing midstream operations.

Summary

• Matador Resources Company (NYSE: MTDR) and San Mateo Midstream, LLC announced multiple leadership promotions, effective June 11, 2025.
• Bryan A. Erman has been promoted to Co-President, Chief Legal Officer, and Head of M&A, previously serving as Executive Vice President, General Counsel, and Head of M&A.
• William D. Lambert has been promoted to Executive Vice President, Chief Financial Officer, and Head of Strategy, assuming the Principal Financial Officer role from Brian J. Willey.
• Brian J. Willey has been promoted to Executive Vice President Midstream of Matador and Executive Vice President, Chief Administrative Officer, and Chief Legal Officer of San Mateo.
• Robert T. Macalik has been promoted to Executive Vice President Administration and Finance of Matador and Executive Vice President and Chief Financial Officer of San Mateo.
• Benjamin T. Colodney has been promoted to Vice President and Chief Accounting Officer of Matador, assuming the Principal Accounting Officer role from Robert T. Macalik.
• San Mateo Midstream's gas processing capacity has grown significantly from 60 million cubic feet per day (MMcf/d) in 2016 to 720 MMcf/d today, making it one of the top three midstream gas processing systems by capacity in New Mexico.

Sentiment

Score: 8

Explanation: The announcement details strategic promotions of key personnel, including a new CFO and Co-President, and highlights significant growth in the midstream segment, positioning the company for future opportunities. This indicates strong internal talent development and strategic focus, which are generally positive indicators for investors.

Positives

• Strategic promotions of key internal personnel and recent hires, indicating strong talent development and succession planning.
• Significant growth in San Mateo Midstream's gas processing capacity, increasing from 60 MMcf/d in 2016 to 720 MMcf/d today.
• San Mateo Midstream is now recognized as one of the top three midstream gas processing systems by capacity in New Mexico, highlighting its strategic importance and market position.
• The leadership changes are intended to strengthen San Mateo for future opportunities and growth, aiming to maximize value for Matador's shareholders.
• The new CFO, William D. Lambert, brings extensive experience from Devon Energy and Goldman Sachs, which is expected to benefit Matador's finance and investor relations teams.

Risks

• Disruption from Matador's acquisitions or dispositions making it more difficult to maintain business and operational relationships.
• Significant transaction costs associated with Matador's acquisitions or dispositions.
• Risk of litigation and/or regulatory actions related to Matador's acquisitions or dispositions.
• General economic conditions.
• Matador's ability to execute its business plan, including whether its drilling program is successful.
• Changes in oil, natural gas, and natural gas liquids prices and the demand for these resources.
• Ability to replace reserves and efficiently develop current reserves.
• Operating results of Matador's midstream oil, natural gas, and water gathering and transportation systems, pipelines, and facilities, including the acquiring of third-party business and drilling of additional salt water disposal wells.
• Costs of operations.
• Delays and other difficulties related to producing oil, natural gas, and natural gas liquids.
• Delays and other difficulties related to regulatory and governmental approvals and restrictions.
• Impact on Matador's operations due to seismic events.
• Ability to make acquisitions on economically acceptable terms and integrate them successfully.
• Availability of sufficient capital to execute its business plan, including from future cash flows, capital markets, and available borrowing capacity.
• Operating results of and the availability of any potential distributions from joint ventures.
• Weather and environmental conditions.

Future Outlook

Matador Resources expects its midstream business, particularly San Mateo, to continue its growth in value and strategic importance. The recent leadership promotions are anticipated to strengthen San Mateo for future opportunities and growth, as the company continues to explore ways to maximize its value for shareholders.

Management Comments

• Joseph Wm. Foran, Matador's Founder, Chairman and Chief Executive Officer, congratulated Bryan Erman and William Lambert on their promotions, noting Bryan's critical role in shaping and executing strategy and Bill's significant contributions to finance and investor relations since joining earlier this year.
• Timothy E. Parker, Matador's Lead Independent Director, highlighted San Mateo's growth from 60 MMcf/d in 2016 to 720 MMcf/d today, making it one of the top three midstream gas processing systems by capacity in New Mexico.
• Timothy E. Parker expressed excitement for Brian Willey and Rob Macalik taking on leadership roles at San Mateo, stating that these promotions will strengthen San Mateo for future opportunities and growth to maximize value for Matador's shareholders.

Industry Context

The promotions within Matador Resources, particularly the focus on strengthening the leadership of its midstream joint venture, San Mateo Midstream, align with a broader industry trend among exploration and production (E&P) companies to integrate and grow their midstream assets. This strategy allows E&P companies to capture additional value across the energy value chain, enhance operational control, and often generate third-party revenue. San Mateo's significant increase in gas processing capacity positions Matador as a more vertically integrated player with a substantial footprint in the New Mexico midstream sector, reflecting the ongoing importance of efficient infrastructure in key shale plays like the Delaware Basin.

Comparison to Industry Standards

• San Mateo Midstream's gas processing capacity has expanded from 60 MMcf/d in 2016 to 720 MMcf/d today.
• This expansion positions San Mateo as one of the top three midstream gas processing systems by capacity in New Mexico.

Management Changes

Related Party Transactions

• San Mateo Midstream, LLC is a strategic joint venture formed in February 2017 by a subsidiary of Matador Resources Company and a subsidiary of Five Point Infrastructure LLC.
• Matador Resources Company serves as the primary midstream solution (anchor customer) for San Mateo Midstream.

Stakeholder Impact

• Shareholders: Potential for enhanced long-term value through strengthened leadership, strategic focus on midstream growth, and efforts to maximize San Mateo's value.
• Employees: Recognition and promotion of key internal talent, potentially fostering a positive internal environment and career development opportunities.
• Customers (third-party E&P operators): Continued and potentially expanded midstream services from San Mateo, benefiting from its increased capacity and strategic focus.
• Management: Clearer roles and responsibilities, particularly within the midstream segment, enabling more focused strategic execution.

Next Steps

• Continue to explore ways to maximize the value of San Mateo Midstream for Matador's shareholders.

Key Dates

Recommendation

Keywords

Matador Resources, San Mateo Midstream, Leadership Promotions, CFO Appointment, Co-President, Midstream Operations, Delaware Basin, Oil and Gas, Energy Company, SEC Filing, Corporate Governance, Executive Changes, Gas Processing Capacity, New Mexico