Matador Resources (MTDR) 10-Q 1 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 28, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-35410
Entity Registrant Name	Matador Resources Company
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	27-4662601
Entity Address, Address Line One	5400 LBJ Freeway,
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	Dallas,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	972
Local Phone Number	371-5200
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MTDR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		116,557,234
Entity Central Index Key	0001520006
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - Unaudited - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash	$ 27,063	$ 40,024
Restricted cash	29,732	25,104
Accounts receivable
Oil and natural gas revenues	52,879	95,228
Joint interest billings	70,318	67,546
Other	30,592	26,639
Derivative instruments	121,179	0
Lease and well equipment inventory	11,638	10,744
Prepaid expenses and other current assets	13,234	13,207
Total current assets	356,635	278,492
Oil and natural gas properties, full-cost method
Evaluated	4,724,293	4,557,265
Unproved and unevaluated	1,169,751	1,126,992
Midstream properties	711,863	643,903
Other property and equipment	27,640	27,021
Less accumulated depletion, depreciation and amortization	(2,746,314)	(2,655,586)
Net property and equipment	3,887,233	3,699,595
Other assets
Derivative instruments	11,371	0
Other long-term assets	78,432	91,589
Total other assets	89,803	91,589
Total assets	4,333,671	4,069,676
Current liabilities
Accounts payable	17,659	25,230
Accrued liabilities	197,305	200,695
Royalties payable	85,577	85,193
Amounts due to affiliates	234	19,606
Derivative instruments	0	1,897
Advances from joint interest owners	11,240	14,837
Amounts due to joint ventures	0	486
Other current liabilities	47,883	51,828
Total current liabilities	359,898	399,772
Long-term liabilities
Borrowings under Credit Agreement	315,000	255,000
Borrowings under San Mateo Credit Facility	307,500	288,000
Senior unsecured notes payable	1,039,811	1,039,416
Asset retirement obligations	37,118	35,592
Derivative instruments	0	1,984
Deferred income taxes	84,700	37,329
Other long-term liabilities	35,264	43,131
Total long-term liabilities	1,819,393	1,700,452
Commitments and contingencies
Shareholders’ equity
Common stock - $0.01 par value, 160,000,000 shares authorized; 116,671,325 and 116,644,246 shares issued; and 116,564,598 and 116,642,899 shares outstanding, respectively	1,167	1,166
Additional paid-in capital	2,014,246	1,981,014
Accumulated deficit	(22,771)	(148,500)
Treasury stock, at cost, 106,727 and 1,347 shares, respectively	(1,293)	(26)
Total Matador Resources Company shareholders’ equity	1,991,349	1,833,654
Non-controlling interest in subsidiaries	163,031	135,798
Total shareholders’ equity	2,154,380	1,969,452
Total liabilities and shareholders’ equity	$ 4,333,671	$ 4,069,676

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - Unaudited - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	160,000,000	160,000,000
Common stock, shares issued	116,671,325	116,644,246
Common stock, shares outstanding	116,564,598	116,642,899
Treasury stock, shares	106,727	1,347

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues
Revenues	$ 224,288	$ 216,338
Realized gain on derivatives	10,867	3,270
Unrealized gain (loss) on derivatives	136,430	(45,719)
Total revenues	371,585	173,889
Expenses
Production taxes, transportation and processing	21,716	19,665
Lease operating	30,910	31,163
Purchased natural gas	8,058	10,634
Depletion, depreciation and amortization	90,707	76,866
Accretion of asset retirement obligations	476	414
General and administrative	16,222	18,290
Total expenses	178,053	166,348
Operating income	193,532	7,541
Other income (expense)
Interest expense	(19,812)	(17,929)
Other income (expense)	1,320	(110)
Total other expense	(18,492)	(18,039)
Income (loss) before income taxes	175,040	(10,498)
Income tax provision (benefit)
Deferred	39,957	(1,013)
Total income tax provision (benefit)	39,957	(1,013)
Net income (loss)	135,083	(9,485)
Net income attributable to non-controlling interest in subsidiaries	9,354	7,462
Net income (loss) attributable to Matador Resources Company shareholders	$ 125,729	$ (16,947)
Earnings (loss) per common share
Basic (in dollars per share)	$ 1.08	$ (0.15)
Diluted (in dollars per share)	$ 1.08	$ (0.15)
Weighted average common shares outstanding
Basic (shares)	116,607	115,315
Diluted (shares)	116,684	115,315
Oil and natural gas revenues
Revenues
Revenues	$ 197,914	$ 193,269
Third-party midstream services revenues
Revenues
Revenues	15,830	11,838
Expenses
Plant and other midstream services operating	9,964	9,316
Sales of purchased natural gas
Revenues
Revenues	$ 10,544	$ 11,231

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Changes in Shareholders' Equity - Unaudited - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated deficit	Treasury Stock	Total shareholders’ equity attributable to Matador Resources Company	Non-controlling interest in subsidiaries	San Mateo I	San Mateo IAdditional paid-in capital	San Mateo ITotal shareholders’ equity attributable to Matador Resources Company	San Mateo II	San Mateo IIAdditional paid-in capital	San Mateo IITotal shareholders’ equity attributable to Matador Resources Company	San Mateo IINon-controlling interest in subsidiaries
Beginning Balance, shares at Dec. 31, 2018		116,375,000			21,000
Beginning balance at Dec. 31, 2018	$ 1,779,657	$ 1,164	$ 1,924,408	$ (236,277)	$ (415)	$ 1,688,880	$ 90,777
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock pursuant to directors' and advisors' compensation plan (in shares)		6,000
Issuance of common stock pursuant to employee stock compensation plan	0	$ 0	0
Issuance of common stock pursuant to directors' and advisors' compensation plan (in shares)		3,000
Issuance of common stock pursuant to directors’ and advisors’ compensation plan	0	$ 0	0			0
Stock-based compensation expense related to equity-based awards including amounts capitalized	5,802		5,802			5,802
Stock options exercised, net of options forfeited in net share settlements (in shares)		210,000
Stock options exercised, net of options forfeited in net share settlements	3,111	$ 2	3,109			3,111
Restricted stock forfeited (in shares)					184,000
Restricted stock forfeited	(3,170)				$ (3,170)	(3,170)
Contribution related to formation of property								$ 11,613	$ 11,613	$ 11,613	$ 0	$ (506)	$ (506)	$ 506
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries, net of tax of $4.3 million (see Note 6)	12,331		2,040			2,040	10,291
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries	(8,330)						(8,330)
Current period net income	(9,485)			(16,947)		(16,947)	7,462
Ending Balance, shares at Mar. 31, 2019		116,594,000			205,000
Ending balance at Mar. 31, 2019	$ 1,791,529	$ 1,166	1,946,466	(253,224)	$ (3,585)	1,690,823	100,706
Beginning Balance, shares at Dec. 31, 2019	116,642,899	116,644,000			1,000
Beginning balance at Dec. 31, 2019	$ 1,969,452	$ 1,166	1,981,014	(148,500)	$ (26)	1,833,654	135,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock pursuant to directors' and advisors' compensation plan (in shares)		3,000
Issuance of common stock pursuant to employee stock compensation plan	0	$ 0	0
Issuance of common stock pursuant to directors' and advisors' compensation plan (in shares)		2,000
Issuance of common stock pursuant to directors’ and advisors’ compensation plan	0	$ 0	0			0
Stock-based compensation expense related to equity-based awards including amounts capitalized	5,066		5,066			5,066
Stock options exercised, net of options forfeited in net share settlements (in shares)		0
Stock options exercised, net of options forfeited in net share settlements	(24)	$ 0	(24)			(24)
Liability-based stock option awards settled in equity	298	$ 1	297			298
Liability-based stock option awards settled in equity (in shares)		22,000
Restricted stock forfeited (in shares)					106,000
Restricted stock forfeited	(1,267)				$ (1,267)	(1,267)
Contribution related to formation of property								$ 11,613	$ 11,613	$ 11,613
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries, net of tax of $4.3 million (see Note 6)	45,674		16,280			16,280	29,394
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries	(11,515)						(11,515)
Current period net income	$ 135,083			125,729		125,729	9,354
Ending Balance, shares at Mar. 31, 2020	116,564,598	116,671,000			107,000
Ending balance at Mar. 31, 2020	$ 2,154,380	$ 1,167	$ 2,014,246	$ (22,771)	$ (1,293)	$ 1,991,349	$ 163,031

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Shareholders' Equity - Unaudited (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Contribution related to formation of San Mateo, tax	$ 3.1	$ 3.1
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries, tax	$ 4.3

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Cash Flows [Abstract]
Current period net income	$ 135,083	$ (9,485)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Unrealized (gain) loss on derivatives	(136,430)	45,719
Depletion, depreciation and amortization	90,707	76,866
Accretion of asset retirement obligations	476	414
Stock-based compensation expense	3,794	4,587
Deferred income tax provision (benefit)	39,957	(1,013)
Amortization of debt issuance cost	684	643
Changes in operating assets and liabilities
Accounts receivable	36,342	(3,873)
Lease and well equipment inventory	(1,296)	(1,465)
Prepaid expenses and other current assets	174	(936)
Other long-term assets	1,749	9,809
Accounts payable, accrued liabilities and other current liabilities	(58,562)	(41,621)
Royalties payable	384	(7,500)
Advances from joint interest owners	(3,598)	(6,297)
Other long-term liabilities	(92)	(6,608)
Net cash provided by operating activities	109,372	59,240
Investing activities
Oil and natural gas properties capital expenditures	(173,994)	(182,288)
Midstream capital expenditures	(73,439)	(33,340)
Expenditures for other property and equipment	(787)	(807)
Proceeds from sale of assets	0	1,555
Net cash used in investing activities	(248,220)	(214,880)
Financing activities
Borrowings under Credit Agreement	60,000	100,000
Borrowings under San Mateo Credit Facility	19,500	0
Cost to amend Credit Agreement	(660)	0
Proceeds from stock options exercised	45	3,150
Contributions related to formation of San Mateo I	14,700	14,700
Contributions from non-controlling interest owners of less-than-wholly-owned subsidiaries	50,000	12,330
Distributions to non-controlling interest owners of less-than-wholly-owned subsidiaries	(11,515)	(8,330)
Taxes paid related to net share settlement of stock-based compensation	(1,336)	(3,208)
Cash paid under financing lease obligations	(219)	(274)
Net cash provided by financing activities	130,515	118,368
Decrease in cash and restricted cash	(8,333)	(37,272)
Cash and restricted cash at beginning of period	65,128	83,984
Cash and restricted cash at end of period	$ 56,795	$ 46,712

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Matador Resources Company, a Texas corporation (“Matador” and, collectively with its subsidiaries, the “Company”), is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company’s current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. The Company also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, the Company conducts midstream operations, primarily through its midstream joint ventures, San Mateo Midstream, LLC (“San Mateo I”) and San Mateo Midstream II, LLC (“San Mateo II” and, together with San Mateo I, “San Mateo”), in support of the Company’s exploration, development and production operations and provides natural gas processing, oil transportation services, oil, natural gas and salt water gathering services and salt water disposal services to third parties.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Interim Financial Statements, Basis of Presentation, Consolidation and Significant Estimates The interim unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) but do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 2, 2020 (the “Annual Report”). The Company consolidates certain subsidiaries and joint ventures that are less than wholly-owned and are not involved in oil and natural gas exploration, including San Mateo, and the net income and equity attributable to the non-controlling interest in these subsidiaries have been reported separately as required by Accounting Standards Codification (“ASC”), Consolidation (Topic 810) . The Company proportionately consolidates certain joint ventures that are less than wholly-owned and are involved in oil and natural gas exploration. All intercompany accounts and transactions have been eliminated in consolidation. In management’s opinion, these interim unaudited condensed consolidated financial statements include all normal, recurring adjustments that are necessary for a fair presentation of the Company’s interim unaudited condensed consolidated financial statements as of March 31, 2020 . Amounts as of December 31, 2019 are derived from the Company’s audited consolidated financial statements included in the Annual Report. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s interim unaudited condensed consolidated financial statements are based on a number of significant estimates, including oil and natural gas revenues, accrued assets and liabilities, stock-based compensation, valuation of derivative instruments, deferred tax assets and liabilities and oil and natural gas reserves. The estimates of oil and natural gas reserves quantities and future net cash flows are the basis for the calculations of depletion and impairment of oil and natural gas properties, as well as estimates of asset retirement obligations and certain tax accruals. While the Company believes its estimates are reasonable, changes in facts and assumptions or the discovery of new information may result in revised estimates. Actual results could differ from these estimates. Revenues The following table summarizes the Company’s total revenues and revenues from contracts with customers on a disaggregated basis for the three months ended March 31, 2020 and 2019 (in thousands). Three Months Ended 2020 2019 Revenues from contracts with customers $ 224,288 $ 216,338 Realized gain on derivatives 10,867 3,270 Unrealized gain (loss) on derivatives 136,430 (45,719 ) Total revenues $ 371,585 $ 173,889 Three Months Ended 2020 2019 Oil revenues $ 169,585 $ 154,204 Natural gas revenues 28,329 39,065 Third-party midstream services revenues 15,830 11,838 Sales of purchased natural gas 10,544 11,231 Total revenues from contracts with customers $ 224,288 $ 216,338 Property and Equipment The Company uses the full-cost method of accounting for its investments in oil and natural gas properties. Under this method, the Company is required to perform a ceiling test each quarter that determines a limit, or ceiling, on the capitalized costs of oil and natural gas properties based primarily on the after-tax estimated future net cash flows from oil and natural gas properties using a 10% discount rate and the arithmetic average of first-day-of-the-month oil and natural gas prices for the prior 12 -month period. For the three months ended March 31, 2020 and 2019 , the cost center ceiling was higher than the capitalized costs of oil and natural gas properties, and, as a result, no impairment charge was necessary. The Company capitalized approximately $8.2 million and $8.4 million of its general and administrative costs and approximately $1.4 million and $1.6 million of its interest expense for the three months ended March 31, 2020 and 2019 , respectively. Earnings (Loss) Per Common Share The Company reports basic earnings attributable to Matador shareholders per common share, which excludes the effect of potentially dilutive securities, and diluted earnings attributable to Matador shareholders per common share, which includes the effect of all potentially dilutive securities unless their impact is anti-dilutive. The following table sets forth the computation of diluted weighted average common shares outstanding for the three months ended March 31, 2020 and 2019 (in thousands). Three Months Ended 2020 2019 Weighted average common shares outstanding Basic 116,607 115,315 Dilutive effect of options and restricted stock units 77 — Diluted weighted average common shares outstanding 116,684 115,315 A total of 2.7 million options to purchase shares of Matador’s common stock were excluded from the diluted weighted average common shares outstanding for the three months ended March 31, 2020 because their effects were anti-dilutive. A total of 2.8 million options to purchase shares of Matador’s common stock and 0.4 million restricted stock units were excluded from the diluted weighted average common shares outstanding for the three months ended March 31, 2019 because their effects were anti-dilutive. Additionally, 0.8 million restricted shares, which are participating securities, were excluded from the calculations above for the three months ended March 31, 2019

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATIONS	The following table summarizes the changes in the Company’s asset retirement obligations for the three months ended March 31, 2020 (in thousands). Beginning asset retirement obligations $ 36,211 Liabilities incurred during period 990 Liabilities settled during period (44 ) Accretion expense 476 Ending asset retirement obligations 37,633 Less: current asset retirement obligations (1) (515 ) Long-term asset retirement obligations $ 37,118 _______________ (1) Included in accrued liabilities in the Company’s interim unaudited condensed consolidated balance sheet at March 31, 2020 .

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
DEBT	At March 31, 2020 , the Company had $1.05 billion of outstanding senior notes due 2026 (the “Notes”), $315.0 million in borrowings outstanding under its reserves-based revolving credit facility (the “Credit Agreement”) and approximately $46.0 million in outstanding letters of credit issued pursuant to the Credit Agreement. Between March 31 and April 29, 2020 , the Company borrowed an additional $30.0 million under the Credit Agreement. At March 31, 2020 , San Mateo I had $307.5 million in borrowings outstanding under its revolving credit facility (the “San Mateo Credit Facility”) and approximately $9.0 million in outstanding letters of credit issued pursuant to the San Mateo Credit Facility. Credit Agreements MRC Energy Company The borrowing base under the Credit Agreement is determined semi-annually as of May 1 and November 1 by the lenders based primarily on the estimated value of the Company’s proved oil and natural gas reserves at December 31 and June 30 of each year, respectively. The Company and the lenders may each request an unscheduled redetermination of the borrowing base once between scheduled redetermination dates. In February 2020 , the lenders completed their review of the Company’s proved oil and natural gas reserves at December 31, 2019, and, as a result, the borrowing base was affirmed at $900.0 million . The Company elected to increase the borrowing commitment from $500.0 million to $700.0 million , and the maximum facility amount remained $1.5 billion . This February 2020 redetermination constituted the regularly scheduled May 1 redetermination. Borrowings under the Credit Agreement are limited to the lowest of the borrowing base, the maximum facility amount and the elected commitment. The Credit Agreement matures October 31, 2023. The Credit Agreement requires the Company to maintain a debt to EBITDA ratio, which is defined as debt outstanding (net of up to $50.0 million of cash or cash equivalents) divided by a rolling four quarter EBITDA calculation, of 4.00 or less. The Company believes that it was in compliance with the terms of the Credit Agreement at March 31, 2020 . San Mateo Midstream, LLC The San Mateo Credit Facility is non-recourse with respect to Matador and its wholly-owned subsidiaries, as well as San Mateo II and its subsidiaries, but is guaranteed by San Mateo I’s subsidiaries and secured by substantially all of San Mateo I’s assets, including real property. The San Mateo Credit Facility includes an accordion feature, which provides for potential increases to up to $400.0 million , and matures December 19, 2023. At March 31, 2020 , the lender commitments under the San Mateo Credit Facility were $375.0 million . The San Mateo Credit Facility requires San Mateo I to maintain a debt to EBITDA ratio, which is defined as total consolidated funded indebtedness outstanding (as defined in the San Mateo Credit Facility) divided by a rolling four quarter EBITDA calculation, of 5.00 or less, subject to certain exceptions. The San Mateo Credit Facility also requires San Mateo I to maintain an interest coverage ratio, which is defined as a rolling four quarter EBITDA calculation divided by San Mateo I’s consolidated interest expense, of 2.50 or more. The Company believes that San Mateo I was in compliance with the terms of the San Mateo Credit Facility at March 31, 2020 . Senior Unsecured Notes At March 31, 2020 , the Company had $1.05 billion of outstanding Notes, which have a 5.875% coupon rate. The Notes will mature September 15, 2026, and interest is payable on the Notes semi-annually in arrears on each March 15 and September 15. The Notes are guaranteed on a senior unsecured basis by certain subsidiaries of the Company.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s effective tax rates for the three months ended March 31, 2020 and 2019 were 24% and 33% , respectively. The Company’s total income tax provision for the three months ended March 31, 2020

Equity

Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
EQUITY	EQUITY Stock-based Compensation In March 2020, the Company granted awards to certain of its employees of 601,210 service-based restricted stock units to be settled in cash, which are liability instruments, and 601,210 performance-based stock units, which are equity instruments. The performance-based stock units vest in an amount between zero and 200% of the target units granted based on the Company’s relative total shareholder return over the three -year period ending December 31, 2022, as compared to a designated peer group. The service-based restricted stock units vest ratably over three years , and the performance-based stock units are eligible to vest after completion of the three -year performance period. The fair value of these awards was approximately $2.5 million on the grant date. San Mateo II On February 25, 2019, the Company announced the formation of San Mateo II, a strategic joint venture with a subsidiary of Five Point Energy LLC (“Five Point”) designed to expand the Company’s midstream operations in the Delaware Basin, specifically in Eddy County, New Mexico. San Mateo II is owned 51 % by the Company and 49% by Five Point. In addition, Five Point has committed to pay $125 million of the first $150 million of capital expenditures incurred by San Mateo II to develop facilities in the Stebbins area and surrounding leaseholds in the southern portion of the Arrowhead asset area (the “Greater Stebbins Area”) and the Stateline asset area. During the first quarter of 2019, the Company contributed $1.0 million of property and Five Point contributed $4.0 million of cash to San Mateo II. During the first quarter of 2020, the Company contributed $7.5 million and Five Point contributed $50.0 million of cash, of which $20.6 million was paid to carry Matador’s proportionate interest in San Mateo II and was therefore recorded in “Additional paid-in capital” in the Company’s interim unaudited condensed consolidated balance sheet, net of the $4.3 million deferred tax impact to Matador related to this equity contribution. In addition, the Company has the ability to earn up to $150.0 million in deferred performance incentives over the next several years , plus additional performance incentives for securing volumes from third-party customers. Performance Incentives In connection with the formation of San Mateo I in 2017, the Company has the ability to earn a total of $73.5 million in performance incentives to be paid by Five Point over a five -year period. The Company earned, and Five Point paid to the Company, $14.7 million in performance incentives during each of the three months ended March 31, 2020 , 2019 and 2018. The Company may earn up to an additional $29.4 million in performance incentives over the next two years . These performance incentives are recorded, net of the $3.1 million deferred tax impact to Matador, in “Additional paid-in capital” in the Company’s interim unaudited condensed consolidated balance sheet when received. These performance incentives for the three months ended March 31, 2020 and 2019 are also denoted as “Contributions related to formation of San Mateo I” under “Financing activities” in the Company’s interim unaudited condensed consolidated statements of cash flows and changes in shareholders’ equity.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS At March 31, 2020 , the Company had various costless collar and swap contracts open and in place to mitigate its exposure to oil price volatility, each with a specific term (calculation period), notional quantity (volume hedged) and price floor and ceiling for the collars and fixed price for the swaps. At March 31, 2020 , each contract was set to expire at varying times during 2020, 2021 and 2022. The Company had no open contracts associated with natural gas or natural gas liquids (“NGL”) prices at March 31, 2020 . The following is a summary of the Company’s open costless collar contracts for oil at March 31, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Weighted Average Price Floor ($/Bbl) Weighted Average Price Ceiling ($/Bbl) Fair Value of Asset (Liability) (thousands) Oil 04/01/2020 - 12/31/2020 5,205,000 $ 47.68 $ 66.69 $ 95,553 Total open costless collar contracts $ 95,553 The following is a summary of the Company’s open basis swap contracts for oil at March 31, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Fixed Price ($/Bbl) Fair Value of Asset (Liability) (thousands) Oil Basis 04/01/2020 - 12/31/2020 7,335,000 $ 0.61 $ 23,318 Oil Basis 01/01/2021 - 12/31/2021 8,400,000 $ 0.87 8,552 Oil Basis 01/01/2022 - 12/31/2022 5,520,000 $ 0.95 5,127 Total open basis swap contracts $ 36,997 At March 31, 2020 , the Company had an aggregate asset value for open derivative financial instruments of $132.6 million . The Company’s derivative financial instruments are subject to master netting arrangements, and the Company’s counterparties allow for cross-commodity master netting provided the settlement dates for the commodities are the same. The Company does not present different types of commodities with the same counterparty on a net basis in its interim unaudited condensed consolidated balance sheets. The following table presents the gross asset and liability fair values of the Company’s commodity price derivative financial instruments and the location of these balances in the interim unaudited condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 (in thousands). Derivative Instruments Gross Gross amounts Net amounts presented in the condensed March 31, 2020 Current assets $ 321,607 $ (200,428 ) $ 121,179 Other assets 296,261 (284,890 ) 11,371 Current liabilities (200,428 ) 200,428 — Long-term liabilities (284,890 ) 284,890 — Total $ 132,550 $ — $ 132,550 December 31, 2019 Current assets $ 442,291 $ (442,291 ) $ — Other assets 280,397 (280,397 ) — Current liabilities (444,188 ) 442,291 (1,897 ) Long-term liabilities (282,381 ) 280,397 (1,984 ) Total $ (3,881 ) $ — $ (3,881 ) The following table summarizes the location and aggregate gain (loss) of all derivative financial instruments recorded in the interim unaudited condensed consolidated statements of operations for the periods presented (in thousands). These derivative financial instruments are not designated as hedging instruments. Three Months Ended Type of Instrument Location in Condensed Consolidated Statement of Operations 2020 2019 Derivative Instrument Oil Revenues: Realized gain on derivatives $ 10,867 $ 3,366 Natural Gas Revenues: Realized loss on derivatives — (96 ) Realized gain on derivatives 10,867 3,270 Oil Revenues: Unrealized gain (loss) on derivatives 136,430 (45,444 ) Natural Gas Revenues: Unrealized loss on derivatives — (275 ) Unrealized gain (loss) on derivatives 136,430 (45,719 ) Total $ 147,297 $ (42,449 ) In April 2020, the Company restructured a portion of its oil derivative contracts, increasing its oil volumes hedged during the period from April through December 2020. As part of this restructuring, the Company repurchased the call options on certain existing open costless collars and kept the remaining put options, which represent options to sell at a specific exercise price, exchanged certain existing open costless collars and added swaps. As a result of this restructuring process, the Company’s open oil derivative contracts for the period from April through December 2020 have changed. The restructuring transactions were executed with the same counterparties and were costless to the Company. As a result, the execution of the restructuring transactions is not expected to have a material impact on the consolidated financial statements of the Company. No changes were made to the Company’s open oil basis swaps from those positions noted above. In April 2020, the Company also entered into oil swaps for 2021 and natural gas collars for late 2020 and early 2021. The following is a summary of the Company’s open costless collar contracts for oil and natural gas at April 29, 2020 . Commodity Calculation Period Notional Quantity (Bbl or MMBtu) Weighted Average Price Floor ($/Bbl or Weighted Average Price Ceiling ($/Bbl or Oil 04/01/2020 - 12/31/2020 2,311,500 $ 47.94 $ 66.19 Natural Gas 11/01/2020 - 12/31/2020 3,200,000 $ 2.52 $ 3.71 Natural Gas 01/01/2021 - 03/31/2021 4,800,000 $ 2.52 $ 3.71 The following is a summary of the Company’s open swap contracts for oil at April 29, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Fixed Price ($/Bbl) Oil 04/01/2020 - 12/31/2020 7,620,000 $ 34.93 Oil 01/01/2021 - 12/31/2021 2,040,000 $ 35.26 The following is a summary of the Company’s open put option contracts for oil at April 29, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Fixed Price ($/Bbl) Oil 04/01/2020 - 06/30/2020 391,500 $ 48.15

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	The Company measures and reports certain financial and non-financial assets and liabilities on a fair value basis. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Fair value measurements are classified and disclosed in one of the following categories. Level 1 Unadjusted quoted prices for identical, unrestricted assets or liabilities in active markets. Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. This category includes those derivative instruments that are valued with industry standard models that consider various inputs, including: (i) quoted forward prices for commodities, (ii) time value of money and (iii) current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these inputs are observable in the marketplace throughout the full term of the derivative instrument and can be derived from observable data or supported by observable levels at which transactions are executed in the marketplace. Level 3 Unobservable inputs that are not corroborated by market data that reflect a company’s own market assumptions. Financial and non-financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The following tables summarize the valuation of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis in accordance with the classifications provided above as of March 31, 2020 and December 31, 2019 (in thousands). Fair Value Measurements at Description Level 1 Level 2 Level 3 Total Assets (Liabilities) Oil derivatives and basis swaps $ — $ 132,550 $ — $ 132,550 Total $ — $ 132,550 $ — $ 132,550 Fair Value Measurements at Description Level 1 Level 2 Level 3 Total Assets (Liabilities) Oil derivatives and basis swaps $ — $ (3,881 ) $ — $ (3,881 ) Total $ — $ (3,881 ) $ — $ (3,881 ) Additional disclosures related to derivative financial instruments are provided in Note 7. Other Fair Value Measurements At March 31, 2020 and December 31, 2019 , the carrying values reported on the interim unaudited condensed consolidated balance sheets for accounts receivable, prepaid expenses and other assets, accounts payable, accrued liabilities, royalties payable, amounts due to affiliates, advances from joint interest owners, amounts due to joint ventures and other current liabilities approximated their fair values due to their short-term maturities. At March 31, 2020 and December 31, 2019 , the carrying value of borrowings under the Credit Agreement and the San Mateo Credit Facility approximated their fair value as both are subject to short-term floating interest rates that reflect market rates available to the Company at the time and are classified at Level 2 in the fair value hierarchy. At March 31, 2020 and December 31, 2019 , the fair value of the Notes was $307.1 million and $1.06 billion , respectively, based on quoted market prices, which represent Level 1 inputs in the fair value hierarchy. At April 29, 2020 , the fair value of the Notes was $499.5 million .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Processing, Transportation and Salt Water Disposal Commitments Firm Commitments From time to time, the Company enters into agreements with third parties whereby the Company commits to deliver anticipated natural gas and oil production and salt water from certain portions of its acreage for gathering, transportation, processing, fractionation, sales and, in the case of salt water, disposal. The Company paid approximately $11.0 million and $6.8 million for deliveries under these agreements during the three months ended March 31, 2020 and 2019 , respectively. Certain of these agreements contain minimum volume commitments. If the Company does not meet the minimum volume commitments under these agreements, it will be required to pay certain deficiency fees. If the Company ceased operations in the areas subject to these agreements at March 31, 2020 , the total deficiencies required to be paid by the Company under these agreements would be approximately $398.1 million , in addition to the commitments described below. Future Commitments In late 2017, the Company entered into a fixed-fee NGL sales agreement whereby the Company committed to deliver its NGL production at the tailgate of the Black River cryogenic natural gas processing plant in Eddy County, New Mexico (the “Black River Processing Plant”) to a certain counterparty. The Company is committed to deliver a minimum amount of NGLs to the counterparty upon construction and completion of a pipeline extension and a fractionation facility by the counterparty, which is currently expected to be completed in 2020. The Company has no rights to compel the counterparty to construct this pipeline extension or fractionation facility. If the counterparty does not construct the pipeline extension and fractionation facility, then the Company would not have any minimum volume commitments under the agreement. If the counterparty constructs the pipeline extension and fractionation facility on or prior to February 28, 2021, then the Company would have a commitment to deliver a minimum amount of NGLs for seven years following the completion of the pipeline extension and fractionation facility. If the Company does not meet its NGL volume commitment in any quarter during the seven -year commitment period, it would be required to pay a deficiency fee per gallon of NGL below the Company’s commitment. Should the pipeline extension and fractionation facility be completed on or prior to February 28, 2021, the minimum contractual obligation during the seven -year period would be approximately $129.2 million . In October 2019, the Company entered into a 15 -year, fixed-fee natural gas transportation agreement whereby the Company committed to deliver a portion of the residue gas production at the tailgate of the Black River Processing Plant to transport through the counterparty’s pipeline. The agreement begins when the counterparty’s pipeline is placed in service, which is anticipated to be the third quarter of 2020. Should the pipeline be placed in service, the Company would owe the fees to transport the committed volume whether or not the committed volume is transported through the counterparty’s pipeline, and the minimum contractual obligation would be approximately $106.9 million . Delaware Basin — San Mateo In February 2017, the Company dedicated its current and future leasehold interests in the Rustler Breaks and Wolf asset areas pursuant to 15 -year, fixed-fee natural gas, oil and salt water gathering agreements and salt water disposal agreements with subsidiaries of San Mateo I. In addition, the Company dedicated its current and future leasehold interests in the Rustler Breaks asset area pursuant to a 15 -year, fixed-fee natural gas processing agreement (collectively with the gathering and salt water disposal agreements, the “Operational Agreements”). San Mateo I provides the Company with firm service under each of the Operational Agreements in exchange for certain minimum volume commitments. The remaining minimum contractual obligation under the Operational Agreements at March 31, 2020 was approximately $150.7 million . In connection with the February 2019 formation of San Mateo II, the Company dedicated to San Mateo II acreage in the Greater Stebbins Area and the Stateline asset area pursuant to 15 -year, fixed-fee agreements for oil, natural gas and salt water gathering, natural gas processing and salt water disposal (collectively, the “San Mateo II Operational Agreements”). San Mateo II will provide the Company with firm service under each of the San Mateo II Operational Agreements in exchange for certain minimum volume commitments. The remaining minimum contractual obligation under the San Mateo II Operational Agreements at March 31, 2020 was approximately $361.1 million . In June 2019, a subsidiary of San Mateo II entered into an agreement with third parties for the engineering, procurement, construction and installation of an expansion of the Black River Processing Plant, including required compression. The expansion is expected to be placed in service in 2020. San Mateo II’s total commitments under this agreement are $80.6 million . San Mateo II paid approximately $21.1 million under this agreement during the three months ended March 31, 2020 . As of March 31, 2020 , the remaining obligations of San Mateo II under this agreement were $19.4 million , which are expected to be paid within the next 12 months. Legal Proceedings The Company is a party to several legal proceedings encountered in the ordinary course of its business. While the ultimate outcome and impact on the Company cannot be predicted with certainty, in the opinion of management, it is remote that these legal proceedings will have a material adverse impact on the Company’s financial condition, results of operations or cash flows.

Supplemental Disclosures

Supplemental Disclosures	3 Months Ended
	Mar. 31, 2020
Supplemental Disclosures [Abstract]
SUPPLEMENTAL DISCLOSURES	Accrued Liabilities The following table summarizes the Company’s current accrued liabilities at March 31, 2020 and December 31, 2019 (in thousands). March 31, December 31, Accrued evaluated and unproved and unevaluated property costs $ 107,173 $ 72,376 Accrued midstream properties costs 40,781 46,402 Accrued lease operating expenses 20,849 18,223 Accrued interest on debt 2,861 18,569 Accrued asset retirement obligations 515 619 Accrued partners’ share of joint interest charges 18,202 14,322 Accrued payable related to purchased natural gas 1,770 17,806 Other 5,154 12,378 Total accrued liabilities $ 197,305 $ 200,695 Supplemental Cash Flow Information The following table provides supplemental disclosures of cash flow information for the three months ended March 31, 2020 and 2019 (in thousands). Three Months Ended 2020 2019 Cash paid for interest expense, net of amounts capitalized $ 35,461 $ 35,326 Increase in asset retirement obligations related to mineral properties $ 738 $ 445 Increase in asset retirement obligations related to midstream properties $ 213 $ — Increase in liabilities for oil and natural gas properties capital expenditures $ 34,602 $ 16,184 Decrease in liabilities for midstream properties capital expenditures $ (5,579 ) $ (3,908 ) Stock-based compensation (benefit) expense recognized as liability $ (1,411 ) $ 605 Transfer of inventory from oil and natural gas properties $ 401 $ 250 The following table provides a reconciliation of cash and restricted cash recorded in the interim unaudited condensed consolidated balance sheets to cash and restricted cash as presented on the interim unaudited condensed consolidated statements of cash flows (in thousands). Three Months Ended 2020 2019 Cash $ 27,063 $ 20,758 Restricted cash 29,732 25,954 Total cash and restricted cash $ 56,795 $ 46,712

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	The Company operates in two business segments: (i) exploration and production and (ii) midstream. The exploration and production segment is engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States and is currently focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. The Company also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. The midstream segment conducts midstream operations in support of the Company’s exploration, development and production operations and provides natural gas processing, oil transportation services, oil, natural gas and salt water gathering services and salt water disposal services to third parties. Substantially all of the Company’s midstream operations in the Rustler Breaks, Wolf and Stateline asset areas and the Greater Stebbins Area in the Delaware Basin are conducted through San Mateo. The following tables present selected financial information for the periods presented regarding the Company’s business segments on a stand-alone basis, corporate expenses that are not allocated to a segment and the consolidation and elimination entries necessary to arrive at the financial information for the Company on a consolidated basis (in thousands). On a consolidated basis, midstream services revenues consist primarily of those revenues from midstream operations related to third parties, including working interest owners in the Company’s operated wells. All midstream services revenues associated with Company-owned production are eliminated in consolidation. In evaluating the operating results of the exploration and production and midstream segments, the Company does not allocate certain expenses to the individual segments, including general and administrative expenses. Such expenses are reflected in the column labeled “Corporate.” Exploration and Production Consolidations and Eliminations Consolidated Company Midstream Corporate Three Months Ended March 31, 2020 Oil and natural gas revenues $ 196,795 $ 1,119 $ — $ — $ 197,914 Midstream services revenues — 37,749 — (21,919 ) 15,830 Sales of purchased natural gas 3,595 6,949 — — 10,544 Realized gain on derivatives 10,867 — — — 10,867 Unrealized gain on derivatives 136,430 — — — 136,430 Expenses (1) 161,325 24,330 14,317 (21,919 ) 178,053 Operating income (loss) (2) $ 186,362 $ 21,487 $ (14,317 ) $ — $ 193,532 Total assets $ 3,571,257 $ 715,413 $ 47,001 $ — $ 4,333,671 Capital expenditures (3) $ 209,735 $ 68,073 $ 787 $ — $ 278,595 _____________________ (1) Includes depletion, depreciation and amortization expenses of $85.2 million and $4.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.7 million . (2) Includes $9.4 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3) Includes $39.7 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $47.6 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment. Exploration and Production Consolidations and Eliminations Consolidated Company Midstream Corporate Three Months Ended March 31, 2019 Oil and natural gas revenues $ 191,663 $ 1,606 $ — $ — $ 193,269 Midstream services revenues — 30,254 — (18,416 ) 11,838 Sales of purchased natural gas — 11,231 — — 11,231 Realized gain on derivatives 3,270 — — — 3,270 Unrealized loss on derivatives (45,719 ) — — — (45,719 ) Expenses (1) 141,980 25,834 16,950 (18,416 ) 166,348 Operating income (loss) (2) $ 7,234 $ 17,257 $ (16,950 ) $ — $ 7,541 Total assets $ 3,043,375 $ 477,836 $ 62,087 $ — $ 3,583,298 Capital expenditures (3) $ 197,611 $ 29,432 $ 807 $ — $ 227,850 _____________________ (1) Includes depletion, depreciation and amortization expenses of $72.6 million and $3.7 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.6 million . (2) Includes $7.5 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3) Includes $23.1 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $13.7 million

Subsidiary Guarantors

Subsidiary Guarantors	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
SUBSIDIARY GUARANTORS	The Notes are jointly and severally guaranteed by certain subsidiaries of Matador (the “Guarantor Subsidiaries”) on a full and unconditional basis (except for customary release provisions). At March 31, 2020 , the Guarantor Subsidiaries were 100% owned by Matador. Matador is a parent holding company and has no independent assets or operations, and there are no significant restrictions on the ability of Matador to obtain funds from the Guarantor Subsidiaries by dividend or loan. San Mateo and its subsidiaries (the “Non-Guarantor Subsidiaries”) are not guarantors of the Notes. The following tables present condensed consolidating financial information of Matador (as issuer of the Notes), the Non-Guarantor Subsidiaries, the Guarantor Subsidiaries and all entities on a consolidated basis (in thousands). Elimination entries are necessary to combine the entities. This financial information is presented in accordance with the requirements of Rule 3-10 of Regulation S-X. The following financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantor Subsidiaries operated as independent entities. Condensed Consolidating Balance Sheet Matador Non-Guarantor Subsidiaries Guarantor Subsidiaries Eliminating Entries Consolidated ASSETS Intercompany receivable $ 1,595,484 $ 13,440 $ — $ (1,608,924 ) $ — Current assets 7,024 41,840 307,771 — 356,635 Net property and equipment — 648,361 3,238,872 — 3,887,233 Investment in subsidiaries 1,516,219 — 170,552 (1,686,771 ) — Long-term assets — 2,855 97,278 (10,330 ) 89,803 Total assets $ 3,118,727 $ 706,496 $ 3,814,473 $ (3,306,025 ) $ 4,333,671 LIABILITIES AND EQUITY Intercompany payable $ — $ — $ 1,608,924 $ (1,608,924 ) $ — Current liabilities 2,867 52,782 305,123 (874 ) 359,898 Senior unsecured notes payable 1,039,811 — — — 1,039,811 Other long-term liabilities 84,700 320,131 384,207 (9,456 ) 779,582 Total equity attributable to Matador Resources Company 1,991,349 170,552 1,516,219 (1,686,771 ) 1,991,349 Non-controlling interest in subsidiaries — 163,031 — — 163,031 Total liabilities and equity $ 3,118,727 $ 706,496 $ 3,814,473 $ (3,306,025 ) $ 4,333,671 Condensed Consolidating Balance Sheet Matador Non-Guarantor Subsidiaries Guarantor Subsidiaries Eliminating Entries Consolidated ASSETS Intercompany receivable $ 1,578,133 $ 29,217 $ — $ (1,607,350 ) $ — Current assets 29 37,933 240,530 — 278,492 Net property and equipment — 583,899 3,115,696 — 3,699,595 Investment in subsidiaries 1,332,237 — 144,697 (1,476,934 ) — Long-term assets — 3,072 99,049 (10,532 ) 91,589 Total assets $ 2,910,399 $ 654,121 $ 3,599,972 $ (3,094,816 ) $ 4,069,676 LIABILITIES AND EQUITY Intercompany payable $ — $ — $ 1,607,350 $ (1,607,350 ) $ — Current liabilities — 73,086 327,595 (909 ) 399,772 Senior unsecured notes payable 1,039,416 — — — 1,039,416 Other long-term liabilities 37,329 300,540 332,790 (9,623 ) 661,036 Total equity attributable to Matador Resources Company 1,833,654 144,697 1,332,237 (1,476,934 ) 1,833,654 Non-controlling interest in subsidiaries — 135,798 — — 135,798 Total liabilities and equity $ 2,910,399 $ 654,121 $ 3,599,972 $ (3,094,816 ) $ 4,069,676 Condensed Consolidating Statement of Operations Matador Non-Guarantor Subsidiaries Guarantor Subsidiaries Eliminating Entries Consolidated Total revenues $ — $ 45,319 $ 347,687 $ (21,421 ) $ 371,585 Total expenses 921 23,794 174,759 (21,421 ) 178,053 Operating (loss) income (921 ) 21,525 172,928 — 193,532 Interest expense (17,375 ) (2,437 ) — — (19,812 ) Other income — — 1,320 — 1,320 Earnings in subsidiaries 183,982 — 9,734 (193,716 ) — Income before income taxes 165,686 19,088 183,982 (193,716 ) 175,040 Total income tax provision 39,957 — — — 39,957 Net income attributable to non-controlling interest in subsidiaries — (9,354 ) — — (9,354 ) Net income attributable to Matador Resources Company shareholders $ 125,729 $ 9,734 $ 183,982 $ (193,716 ) $ 125,729 Condensed Consolidating Statement of Operations Matador Non-Guarantor Subsidiaries Guarantor Subsidiaries Eliminating Entries Consolidated Total revenues $ — $ 42,876 $ 149,248 $ (18,235 ) $ 173,889 Total expenses 1,035 25,505 158,043 (18,235 ) 166,348 Operating (loss) income (1,035 ) 17,371 (8,795 ) — 7,541 Interest expense (15,787 ) (2,142 ) — — (17,929 ) Other expense — — (110 ) — (110 ) (Loss) earnings in subsidiaries (1,138 ) — 7,767 (6,629 ) — (Loss) income before income taxes (17,960 ) 15,229 (1,138 ) (6,629 ) (10,498 ) Total income tax benefit (1,013 ) — — — (1,013 ) Net income attributable to non-controlling interest in subsidiaries — (7,462 ) — — (7,462 ) Net (loss) income attributable to Matador Resources Company shareholders $ (16,947 ) $ 7,767 $ (1,138 ) $ (6,629 ) $ (16,947 ) Condensed Consolidating Statement of Cash Flows Matador Non-Guarantor Subsidiaries Guarantor Subsidiaries Eliminating Entries Consolidated Net cash provided by operating activities $ 4 $ 25,244 $ 84,124 $ — $ 109,372 Net cash used in investing activities — (73,670 ) (170,065 ) (4,485 ) (248,220 ) Net cash provided by financing activities — 53,500 72,530 4,485 130,515 Increase (decrease) in cash and restricted cash 4 5,074 (13,411 ) — (8,333 ) Cash and restricted cash at beginning of period 29 24,656 40,443 — 65,128 Cash and restricted cash at end of period $ 33 $ 29,730 $ 27,032 $ — $ 56,795 Condensed Consolidating Statement of Cash Flows Matador Non-Guarantor Subsidiaries Guarantor Subsidiaries Eliminating Entries Consolidated Net cash (used in) provided by operating activities $ (109 ) $ 32,616 $ 26,733 $ — $ 59,240 Net cash used in investing activities — (29,988 ) (184,892 ) — (214,880 ) Net cash provided by financing activities — 3,968 114,400 — 118,368 (Decrease) Increase in cash and restricted cash (109 ) 6,596 (43,759 ) — (37,272 ) Cash and restricted cash at beginning of period 456 18,840 64,688 — 83,984 Cash and restricted cash at end of period $ 347 $ 25,436 $ 20,929 $ — $ 46,712

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Interim Financial Statements, Basis of Presentation, Consolidation and Significant Estimates	Interim Financial Statements, Basis of Presentation, Consolidation and Significant Estimates The interim unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) but do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 2, 2020 (the “Annual Report”). The Company consolidates certain subsidiaries and joint ventures that are less than wholly-owned and are not involved in oil and natural gas exploration, including San Mateo, and the net income and equity attributable to the non-controlling interest in these subsidiaries have been reported separately as required by Accounting Standards Codification (“ASC”), Consolidation (Topic 810) . The Company proportionately consolidates certain joint ventures that are less than wholly-owned and are involved in oil and natural gas exploration. All intercompany accounts and transactions have been eliminated in consolidation. In management’s opinion, these interim unaudited condensed consolidated financial statements include all normal, recurring adjustments that are necessary for a fair presentation of the Company’s interim unaudited condensed consolidated financial statements as of March 31, 2020 . Amounts as of December 31, 2019 are derived from the Company’s audited consolidated financial statements included in the Annual Report. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s interim unaudited condensed consolidated financial statements are based on a number of significant estimates, including oil and natural gas revenues, accrued assets and liabilities, stock-based compensation, valuation of derivative instruments, deferred tax assets and liabilities and oil and natural gas reserves. The estimates of oil and natural gas reserves quantities and future net cash flows are the basis for the calculations of depletion and impairment of oil and natural gas properties, as well as estimates of asset retirement obligations and certain tax accruals. While the Company believes its estimates are reasonable, changes in facts and assumptions or the discovery of new information may result in revised estimates. Actual results could differ from these estimates.
Property and Equipment	Property and Equipment The Company uses the full-cost method of accounting for its investments in oil and natural gas properties. Under this method, the Company is required to perform a ceiling test each quarter that determines a limit, or ceiling, on the capitalized costs of oil and natural gas properties based primarily on the after-tax estimated future net cash flows from oil and natural gas properties using a 10% discount rate and the arithmetic average of first-day-of-the-month oil and natural gas prices for the prior 12 -month period. For the three months ended March 31, 2020 and 2019 , the cost center ceiling was higher than the capitalized costs of oil and natural gas properties, and, as a result, no impairment charge was necessary.
Earnings (Loss) Per Common Share	Earnings (Loss) Per Common Share The Company reports basic earnings attributable to Matador shareholders per common share, which excludes the effect of potentially dilutive securities, and diluted earnings attributable to Matador shareholders per common share, which includes the effect of all potentially dilutive securities unless their impact is anti-dilutive.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Disaggregation of revenue	The following table summarizes the Company’s total revenues and revenues from contracts with customers on a disaggregated basis for the three months ended March 31, 2020 and 2019 (in thousands). Three Months Ended 2020 2019 Revenues from contracts with customers $ 224,288 $ 216,338 Realized gain on derivatives 10,867 3,270 Unrealized gain (loss) on derivatives 136,430 (45,719 ) Total revenues $ 371,585 $ 173,889 Three Months Ended 2020 2019 Oil revenues $ 169,585 $ 154,204 Natural gas revenues 28,329 39,065 Third-party midstream services revenues 15,830 11,838 Sales of purchased natural gas 10,544 11,231 Total revenues from contracts with customers $ 224,288 $ 216,338
Reconciliations of basic and diluted distributed and undistributed earnings (loss) per common share	The following table sets forth the computation of diluted weighted average common shares outstanding for the three months ended March 31, 2020 and 2019 (in thousands). Three Months Ended 2020 2019 Weighted average common shares outstanding Basic 116,607 115,315 Dilutive effect of options and restricted stock units 77 — Diluted weighted average common shares outstanding 116,684 115,315

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Schedule of changes in Company's asset retirement obligations	The following table summarizes the changes in the Company’s asset retirement obligations for the three months ended March 31, 2020 (in thousands). Beginning asset retirement obligations $ 36,211 Liabilities incurred during period 990 Liabilities settled during period (44 ) Accretion expense 476 Ending asset retirement obligations 37,633 Less: current asset retirement obligations (1) (515 ) Long-term asset retirement obligations $ 37,118 _______________ (1) Included in accrued liabilities in the Company’s interim unaudited condensed consolidated balance sheet at March 31, 2020 .

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Open Option Contracts Written [Line Items]
Summary of contracts for oil and natural gas	The following is a summary of the Company’s open costless collar contracts for oil and natural gas at April 29, 2020 . Commodity Calculation Period Notional Quantity (Bbl or MMBtu) Weighted Average Price Floor ($/Bbl or Weighted Average Price Ceiling ($/Bbl or Oil 04/01/2020 - 12/31/2020 2,311,500 $ 47.94 $ 66.19 Natural Gas 11/01/2020 - 12/31/2020 3,200,000 $ 2.52 $ 3.71 Natural Gas 01/01/2021 - 03/31/2021 4,800,000 $ 2.52 $ 3.71 The following is a summary of the Company’s open swap contracts for oil at April 29, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Fixed Price ($/Bbl) Oil 04/01/2020 - 12/31/2020 7,620,000 $ 34.93 Oil 01/01/2021 - 12/31/2021 2,040,000 $ 35.26 The following is a summary of the Company’s open put option contracts for oil at April 29, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Fixed Price ($/Bbl) Oil 04/01/2020 - 06/30/2020 391,500 $ 48.15 The following is a summary of the Company’s open costless collar contracts for oil at March 31, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Weighted Average Price Floor ($/Bbl) Weighted Average Price Ceiling ($/Bbl) Fair Value of Asset (Liability) (thousands) Oil 04/01/2020 - 12/31/2020 5,205,000 $ 47.68 $ 66.69 $ 95,553 Total open costless collar contracts $ 95,553 The following is a summary of the Company’s open basis swap contracts for oil at March 31, 2020 . Commodity Calculation Period Notional Quantity (Bbl) Fixed Price ($/Bbl) Fair Value of Asset (Liability) (thousands) Oil Basis 04/01/2020 - 12/31/2020 7,335,000 $ 0.61 $ 23,318 Oil Basis 01/01/2021 - 12/31/2021 8,400,000 $ 0.87 8,552 Oil Basis 01/01/2022 - 12/31/2022 5,520,000 $ 0.95 5,127 Total open basis swap contracts $ 36,997
Summary of gross asset balances of derivative instruments	The following table presents the gross asset and liability fair values of the Company’s commodity price derivative financial instruments and the location of these balances in the interim unaudited condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 (in thousands). Derivative Instruments Gross Gross amounts Net amounts presented in the condensed March 31, 2020 Current assets $ 321,607 $ (200,428 ) $ 121,179 Other assets 296,261 (284,890 ) 11,371 Current liabilities (200,428 ) 200,428 — Long-term liabilities (284,890 ) 284,890 — Total $ 132,550 $ — $ 132,550 December 31, 2019 Current assets $ 442,291 $ (442,291 ) $ — Other assets 280,397 (280,397 ) — Current liabilities (444,188 ) 442,291 (1,897 ) Long-term liabilities (282,381 ) 280,397 (1,984 ) Total $ (3,881 ) $ — $ (3,881 )
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations	The following table summarizes the location and aggregate gain (loss) of all derivative financial instruments recorded in the interim unaudited condensed consolidated statements of operations for the periods presented (in thousands). These derivative financial instruments are not designated as hedging instruments. Three Months Ended Type of Instrument Location in Condensed Consolidated Statement of Operations 2020 2019 Derivative Instrument Oil Revenues: Realized gain on derivatives $ 10,867 $ 3,366 Natural Gas Revenues: Realized loss on derivatives — (96 ) Realized gain on derivatives 10,867 3,270 Oil Revenues: Unrealized gain (loss) on derivatives 136,430 (45,444 ) Natural Gas Revenues: Unrealized loss on derivatives — (275 ) Unrealized gain (loss) on derivatives 136,430 (45,719 ) Total $ 147,297 $ (42,449 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Summary of the valuation of the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis	Fair Value Measurements at Description Level 1 Level 2 Level 3 Total Assets (Liabilities) Oil derivatives and basis swaps $ — $ 132,550 $ — $ 132,550 Total $ — $ 132,550 $ — $ 132,550 Fair Value Measurements at Description Level 1 Level 2 Level 3 Total Assets (Liabilities) Oil derivatives and basis swaps $ — $ (3,881 ) $ — $ (3,881 ) Total $ — $ (3,881 ) $ — $ (3,881 )

Supplemental Disclosures (Table

Supplemental Disclosures (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Disclosures [Abstract]
Summary of current accrued liabilities	The following table summarizes the Company’s current accrued liabilities at March 31, 2020 and December 31, 2019 (in thousands). March 31, December 31, Accrued evaluated and unproved and unevaluated property costs $ 107,173 $ 72,376 Accrued midstream properties costs 40,781 46,402 Accrued lease operating expenses 20,849 18,223 Accrued interest on debt 2,861 18,569 Accrued asset retirement obligations 515 619 Accrued partners’ share of joint interest charges 18,202 14,322 Accrued payable related to purchased natural gas 1,770 17,806 Other 5,154 12,378 Total accrued liabilities $ 197,305 $ 200,695
Supplemental disclosures of cash flow information	The following table provides supplemental disclosures of cash flow information for the three months ended March 31, 2020 and 2019 (in thousands). Three Months Ended 2020 2019 Cash paid for interest expense, net of amounts capitalized $ 35,461 $ 35,326 Increase in asset retirement obligations related to mineral properties $ 738 $ 445 Increase in asset retirement obligations related to midstream properties $ 213 $ — Increase in liabilities for oil and natural gas properties capital expenditures $ 34,602 $ 16,184 Decrease in liabilities for midstream properties capital expenditures $ (5,579 ) $ (3,908 ) Stock-based compensation (benefit) expense recognized as liability $ (1,411 ) $ 605 Transfer of inventory from oil and natural gas properties $ 401 $ 250 The following table provides a reconciliation of cash and restricted cash recorded in the interim unaudited condensed consolidated balance sheets to cash and restricted cash as presented on the interim unaudited condensed consolidated statements of cash flows (in thousands). Three Months Ended 2020 2019 Cash $ 27,063 $ 20,758 Restricted cash 29,732 25,954 Total cash and restricted cash $ 56,795 $ 46,712

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Selected financial information for segments	The following tables present selected financial information for the periods presented regarding the Company’s business segments on a stand-alone basis, corporate expenses that are not allocated to a segment and the consolidation and elimination entries necessary to arrive at the financial information for the Company on a consolidated basis (in thousands). On a consolidated basis, midstream services revenues consist primarily of those revenues from midstream operations related to third parties, including working interest owners in the Company’s operated wells. All midstream services revenues associated with Company-owned production are eliminated in consolidation. In evaluating the operating results of the exploration and production and midstream segments, the Company does not allocate certain expenses to the individual segments, including general and administrative expenses. Such expenses are reflected in the column labeled “Corporate.” Exploration and Production Consolidations and Eliminations Consolidated Company Midstream Corporate Three Months Ended March 31, 2020 Oil and natural gas revenues $ 196,795 $ 1,119 $ — $ — $ 197,914 Midstream services revenues — 37,749 — (21,919 ) 15,830 Sales of purchased natural gas 3,595 6,949 — — 10,544 Realized gain on derivatives 10,867 — — — 10,867 Unrealized gain on derivatives 136,430 — — — 136,430 Expenses (1) 161,325 24,330 14,317 (21,919 ) 178,053 Operating income (loss) (2) $ 186,362 $ 21,487 $ (14,317 ) $ — $ 193,532 Total assets $ 3,571,257 $ 715,413 $ 47,001 $ — $ 4,333,671 Capital expenditures (3) $ 209,735 $ 68,073 $ 787 $ — $ 278,595 _____________________ (1) Includes depletion, depreciation and amortization expenses of $85.2 million and $4.8 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.7 million . (2) Includes $9.4 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3) Includes $39.7 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $47.6 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment. Exploration and Production Consolidations and Eliminations Consolidated Company Midstream Corporate Three Months Ended March 31, 2019 Oil and natural gas revenues $ 191,663 $ 1,606 $ — $ — $ 193,269 Midstream services revenues — 30,254 — (18,416 ) 11,838 Sales of purchased natural gas — 11,231 — — 11,231 Realized gain on derivatives 3,270 — — — 3,270 Unrealized loss on derivatives (45,719 ) — — — (45,719 ) Expenses (1) 141,980 25,834 16,950 (18,416 ) 166,348 Operating income (loss) (2) $ 7,234 $ 17,257 $ (16,950 ) $ — $ 7,541 Total assets $ 3,043,375 $ 477,836 $ 62,087 $ — $ 3,583,298 Capital expenditures (3) $ 197,611 $ 29,432 $ 807 $ — $ 227,850 _____________________ (1) Includes depletion, depreciation and amortization expenses of $72.6 million and $3.7 million for the exploration and production and midstream segments, respectively. Also includes corporate depletion, depreciation and amortization expenses of $0.6 million . (2) Includes $7.5 million in net income attributable to non-controlling interest in subsidiaries related to the midstream segment. (3) Includes $23.1 million attributable to land and seismic acquisition expenditures related to the exploration and production segment and $13.7 million in capital expenditures attributable to non-controlling interest in subsidiaries related to the midstream segment.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 224,288	$ 216,338
Realized gain on derivatives	10,867	3,270
Unrealized gain (loss) on derivatives	136,430	(45,719)
Total revenue	371,585	173,889
Oil revenues
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	169,585	154,204
Natural gas revenues
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	28,329	39,065
Third-party midstream services revenues
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	15,830	11,838
Sales of purchased natural gas
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	10,544	11,231
Total revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 224,288	$ 216,338

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Textual) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Discount rate, present value of future revenue	10.00%
Impairment charges	$ 0	$ 0
Capitalized general and administrative costs	8,200,000	8,400,000
Interest costs capitalized	$ 1,400,000	$ 1,600,000
Options
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Antidilutive securities (in shares)	2.7	2.8
Restricted Stock Units (RSUs)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Antidilutive securities (in shares)		0.4
Restricted Stock
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Antidilutive securities (in shares)		0.8

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Weighted average common shares outstanding for basic earnings (loss) per share	116,607	115,315
Dilutive effect of options and restricted stock units	77	0
Diluted weighted average common shares outstanding	116,684	115,315

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Changes in the Company's asset retirement obligations
Beginning asset retirement obligations		$ 36,211
Liabilities incurred during period		990
Liabilities settled during period		(44)
Accretion expense		476	$ 414
Ending asset retirement obligations		37,633
Less: current asset retirement obligations	[1]	(515)
Long-term asset retirement obligations		$ 37,118		$ 35,592
[1]	Included in accrued liabilities in the Company’s interim unaudited condensed consolidated balance sheet at March 31, 2020 .

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	May 01, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revolving Credit Agreement [Line Items]
Line of credit facility		$ 315,000		$ 255,000
Borrowings under Credit Agreement		60,000	$ 100,000
Borrowings under San Mateo Credit Facility		307,500		$ 288,000
Senior Notes | Senior Notes Due 2026
Revolving Credit Agreement [Line Items]
Long-term debt outstanding		1,050,000
Letter of Credit
Revolving Credit Agreement [Line Items]
Outstanding letters of credit		46,000
Line of Credit | San Mateo Credit Facility
Revolving Credit Agreement [Line Items]
Outstanding letters of credit		9,000
Borrowings under San Mateo Credit Facility		$ 307,500
Subsequent Event | Senior Notes | Senior Notes Due 2026
Revolving Credit Agreement [Line Items]
Borrowings under Credit Agreement	$ 30,000

Debt Credit Agreement (Details)

Debt Credit Agreement (Details)	1 Months Ended	3 Months Ended
	Feb. 29, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 19, 2018USD ($)
Debt Instrument [Line Items]
Maximum borrowing commitment	$ 700,000,000
Revolving Credit Facility | Third Amended Credit Agreement
Debt Instrument [Line Items]
Increase in borrowing base	900,000,000
Maximum borrowing commitment		$ 500,000,000
Maximum facility amount		1,500,000,000
Cash and cash equivalent limit	$ 50,000,000
EBITDA ratio	4
Line of Credit | San Mateo Credit Facility
Debt Instrument [Line Items]
Maximum borrowing commitment		$ 375,000,000
EBITDA ratio		5
Consolidated interest expense minimum		2.50
Line of credit, accordian feature			$ 400,000,000

Debt Senior Unsecured Notes (De

Debt Senior Unsecured Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Aug. 21, 2018
Debt Instrument [Line Items]
Debt issued	$ 1,039,811	$ 1,039,416
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Long-term debt outstanding	$ 1,050,000
Senior Notes | 2026 Notes Offering
Debt Instrument [Line Items]
Interest rate			5.875%

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	24.00%	33.00%

Equity (Details)

Equity (Details) - USD ($) $ in Thousands, $ / shares in Millions	Feb. 25, 2019	Mar. 31, 2020	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership percentage		100.00%	100.00%
Additional paid-in capital		$ 2,014,246	$ 2,014,246				$ 1,981,014
Service-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)		601,210
Vesting period of shares		3 years
Performance-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)		601,210
Vesting period of shares		3 years
Service-based Restricted Stock Units And Performance-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value		$ 2.5
Corporate Joint Venture | San Mateo
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred performance incentives			$ 29,400			$ 73,500
Deferred performance incentives term			2 years			5 years
Equity contribution, tax impact			$ 3,100
Performance incentives earned			14,700	$ 14,700	$ 14,700
Corporate Joint Venture | San Mateo II
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Due to related party	$ 125,000
Capital expenditures incurred	150,000
Deferred performance incentives	$ 150,000
Five Point | San Mateo II | Corporate Joint Venture
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership percentage	49.00%
Matador Resources Company | San Mateo II | Corporate Joint Venture
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership percentage	51.00%
San Mateo II | Five Point | Corporate Joint Venture
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contributions to related party			50,000
Additional paid-in capital		$ 20,600	20,600
Equity contribution, tax impact			4,300
San Mateo II | Matador Resources Company | Corporate Joint Venture
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contributions to related party			$ 7,500
Minimum | Performance-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting amount, percentage		0.00%
Maximum | Performance-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting amount, percentage		200.00%
Property Contribution | San Mateo II | Five Point | Corporate Joint Venture
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contributions to related party				4,000
Property Contribution | San Mateo II | Matador Resources Company | Corporate Joint Venture
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contributions to related party				$ 1,000

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) $ in Thousands	Apr. 29, 2020bbl$ / bbl	Mar. 31, 2020USD ($)bbl$ / bbl
Open costless collar contracts
Summary of contracts for oil and natural gas
Fair Value of Asset (Liability) | $		$ 95,553
Open Swap Contracts
Summary of contracts for oil and natural gas
Fair Value of Asset (Liability) | $		$ 36,997
Derivative Contract, Calculation Period One | Open costless collar contracts | Oil - WTI
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl		5,205,000
Weighted Average Price Floor ($/Bbl or $/MMBtu)		47.68
Weighted Average Price Ceiling ($/Bbl or $/MMBtu)		66.69
Fair Value of Asset (Liability) | $		$ 95,553
Derivative Contract, Calculation Period One | Open Swap Contracts | Oil Basis Swaps
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl		7,335,000
Fair Value of Asset (Liability) | $		$ 23,318
Derivative, Swap Type, Average Fixed Price		0.61
Derivative Contract, Calculation Period Two | Open Swap Contracts | Oil Basis Swaps
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl		8,400,000
Fair Value of Asset (Liability) | $		$ 8,552
Derivative, Swap Type, Average Fixed Price		0.87
Derivative Contract, Calculation Period Three | Open Swap Contracts | Oil Basis Swaps
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl		5,520,000
Fair Value of Asset (Liability) | $		$ 5,127
Derivative, Swap Type, Average Fixed Price		0.95
Subsequent Event | Open Put Contracts | Oil
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl	391,500
Derivative, Swap Type, Average Fixed Price	48.15
Subsequent Event | Derivative Contract, Calculation Period One | Open costless collar contracts | Oil
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl	2,311,500
Weighted Average Price Floor ($/Bbl or $/MMBtu)	47.94
Weighted Average Price Ceiling ($/Bbl or $/MMBtu)	66.19
Subsequent Event | Derivative Contract, Calculation Period One | Open Swap Contracts | Oil
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl	7,620,000
Derivative, Swap Type, Average Fixed Price	34.93
Subsequent Event | Derivative Contract, Calculation Period Two | Open costless collar contracts | Natural Gas
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl	3,200,000
Weighted Average Price Floor ($/Bbl or $/MMBtu)	2.52
Weighted Average Price Ceiling ($/Bbl or $/MMBtu)	3.71
Subsequent Event | Derivative Contract, Calculation Period Three | Open costless collar contracts | Natural Gas
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl	4,800,000
Weighted Average Price Floor ($/Bbl or $/MMBtu)	2.52
Weighted Average Price Ceiling ($/Bbl or $/MMBtu)	3.71
Subsequent Event | Derivative Contract, Calculation Period Four | Open Swap Contracts | Oil
Summary of contracts for oil and natural gas
Notional Quantity (Bbl or MMBtu) | bbl	2,040,000
Derivative, Swap Type, Average Fixed Price	35.26

Derivative Financial Instrume_4

Derivative Financial Instruments Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative liability	$ (132,550)	$ 3,881

Derivative Financial Instrume_5

Derivative Financial Instruments (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Summary of gross liability balances of derivative instruments
Total	$ 132,550	$ (3,881)
Gross amounts netted in the condensed consolidated balance sheets	0	0
Net amounts presented in the condensed consolidated balance sheets	132,550	(3,881)
Current assets
Derivative [Line Items]
Gross amounts of recognized assets	321,607	442,291
Gross amounts netted in the condensed consolidated balance sheets	(200,428)	(442,291)
Oil, natural gas and natural gas liquids (NGL) derivatives	121,179	0
Other assets
Derivative [Line Items]
Gross amounts of recognized assets	296,261	280,397
Gross amounts netted in the condensed consolidated balance sheets	(284,890)	(280,397)
Oil, natural gas and natural gas liquids (NGL) derivatives	11,371	0
Current liabilities
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	(200,428)	(444,188)
Gross amounts netted in the condensed consolidated balance sheet	200,428	442,291
Oil, natural gas and natural gas liquids (NGL) derivatives	0	(1,897)
Other liabilities
Summary of gross liability balances of derivative instruments
Gross amounts of recognized liabilities	(284,890)	(282,381)
Gross amounts netted in the condensed consolidated balance sheet	284,890	280,397
Oil, natural gas and natural gas liquids (NGL) derivatives	$ 0	$ (1,984)

Derivative Financial Instrume_6

Derivative Financial Instruments (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized gain on derivatives	$ 10,867	$ 3,270
Unrealized gain (loss) on derivatives	136,430	(45,719)
Total	147,297	(42,449)
Revenues
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized gain on derivatives	10,867	3,270
Unrealized gain (loss) on derivatives	136,430	(45,719)
Oil | Revenues
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized gain on derivatives	10,867	3,366
Unrealized gain (loss) on derivatives	136,430	(45,444)
Natural Gas | Revenues
Summary of location and aggregate fair value of all derivative financial instruments recorded in the consolidated statements of operations
Realized gain on derivatives	0	(96)
Unrealized gain (loss) on derivatives	$ 0	$ (275)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets (Liabilities)
Total	$ 132,550	$ (3,881)
Fair value on a recurring basis
Assets (Liabilities)
Derivative Liability	132,550	(3,881)
Total	132,550	(3,881)
Fair value on a recurring basis | Level 1
Assets (Liabilities)
Derivative Liability	0	0
Total	0	0
Fair value on a recurring basis | Level 2
Assets (Liabilities)
Derivative Liability	132,550	(3,881)
Total	132,550	(3,881)
Fair value on a recurring basis | Level 3
Assets (Liabilities)
Derivative Liability	0	0
Total	$ 0	$ 0

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 1) - Senior Notes Due 2023 - Senior Notes - USD ($) $ in Millions	Apr. 29, 2020	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of notes		$ 307.1	$ 1,060
Subsequent Event
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of notes	$ 499.5

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Feb. 25, 2019	Feb. 17, 2017	Oct. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Delivery Of Natural Gas And Oil Production To Third Parties
Long-term Purchase Commitment [Line Items]
Volume requirement commitment				$ 398.1
Payment for volume requirement agreement				11	$ 6.8
Corporate Joint Venture | San Mateo Midstream
Commitments and Contingencies (Textual) [Abstract]
Contractual obligation				$ 150.7
Contract agreement term	15 years
Rustler Breaks and Wolf Asset Area | Corporate Joint Venture | San Mateo Midstream
Commitments and Contingencies (Textual) [Abstract]
Term of contractual obligation		15 years
Rustler Breaks Asset Area | Corporate Joint Venture | San Mateo Midstream
Commitments and Contingencies (Textual) [Abstract]
Term of contractual obligation		15 years
Natural Gas Transportation and Fractionation Agreement | Eddy County
Commitments and Contingencies (Textual) [Abstract]
Agreement term				7 years
Contractual obligation				$ 129.2
2019 15-Year Fixed Fee Natural Gas Transportation Agreement | Eddy County
Commitments and Contingencies (Textual) [Abstract]
Agreement term			15 years
Contractual obligation			$ 106.9
Operational Agreements | San Mateo Midstream
Commitments and Contingencies (Textual) [Abstract]
Contractual obligation				361.1
Engineering, Procurement, Construction And Installation Of Processing Plant | San Mateo Midstream
Commitments and Contingencies (Textual) [Abstract]
Contractual obligation				80.6
Payments made under agreement				21.1
Remaining obligation				$ 19.4

Supplemental Disclosures (Detai

Supplemental Disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Supplemental Disclosures [Line Items]
Total accrued liabilities	$ 197,305	$ 200,695
Accrued evaluated and unproved and unevaluated property costs
Supplemental Disclosures [Line Items]
Total accrued liabilities	107,173	72,376
Accrued midstream properties costs
Supplemental Disclosures [Line Items]
Total accrued liabilities	40,781	46,402
Accrued lease operating expenses
Supplemental Disclosures [Line Items]
Total accrued liabilities	20,849	18,223
Accrued interest on debt
Supplemental Disclosures [Line Items]
Total accrued liabilities	2,861	18,569
Accrued asset retirement obligations
Supplemental Disclosures [Line Items]
Total accrued liabilities	515	619
Accrued partners’ share of joint interest charges
Supplemental Disclosures [Line Items]
Total accrued liabilities	18,202	14,322
Accrued payable related to purchased natural gas
Supplemental Disclosures [Line Items]
Total accrued liabilities	1,770	17,806
Other
Supplemental Disclosures [Line Items]
Total accrued liabilities	$ 5,154	$ 12,378

Supplemental Disclosures (Det_2

Supplemental Disclosures (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Cash Flow Statements, Captions [Line Items]
Cash paid for interest expense, net of amounts capitalized	$ 35,461	$ 35,326
Increase in liabilities for oil and natural gas properties capital expenditures	34,602	16,184
Decrease in liabilities for midstream properties capital expenditures	(5,579)	(3,908)
Stock-based compensation (benefit) expense recognized as liability	1,411	(605)
Transfer of inventory from oil and natural gas properties	401	250
Mineral Properties
Condensed Cash Flow Statements, Captions [Line Items]
Increase (decrease) in asset retirement obligations	738	445
Midstream Properties
Condensed Cash Flow Statements, Captions [Line Items]
Increase (decrease) in asset retirement obligations	$ 213	$ 0

Supplemental Disclosures Supple

Supplemental Disclosures Supplemental Disclosures - Restricted Cash Reconciliation (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash	$ 27,063	$ 40,024	$ 20,758
Restricted cash	29,732	25,104	25,954
Total cash and restricted cash	$ 56,795	$ 65,128	$ 46,712	$ 83,984

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 224,288	$ 216,338
Number of segments | segment	2
Realized gain on derivatives	$ 10,867	3,270
Unrealized gain (loss) on derivatives	136,430	(45,719)
Expenses	178,053	166,348
Operating (loss) income	193,532	7,541
Total assets	4,333,671	3,583,298	$ 4,069,676
Capital expenditures	278,595	227,850
Depletion, depreciation and amortization	90,707	76,866
Corporate
Segment Reporting Information [Line Items]
Realized gain on derivatives	0	0
Unrealized gain (loss) on derivatives	0	0
Expenses	14,317	16,950
Operating (loss) income	(14,317)	(16,950)
Total assets	47,001	62,087
Capital expenditures	787	807
Depletion, depreciation and amortization	700	600
Consolidations and Eliminations
Segment Reporting Information [Line Items]
Realized gain on derivatives	0	0
Unrealized gain (loss) on derivatives	0	0
Expenses	(21,919)	(18,416)
Operating (loss) income	0	0
Total assets	0	0
Capital expenditures	0	0
Exploration and Production | Operating Segments
Segment Reporting Information [Line Items]
Realized gain on derivatives	10,867	3,270
Unrealized gain (loss) on derivatives	136,430	(45,719)
Expenses	161,325	141,980
Operating (loss) income	186,362	7,234
Total assets	3,571,257	3,043,375
Capital expenditures	209,735	197,611
Depletion, depreciation and amortization	85,200	72,600
Capital expenditures attributable to land and seismic acquisition expenditures	39,700	23,100
Midstream | Operating Segments
Segment Reporting Information [Line Items]
Realized gain on derivatives	0	0
Unrealized gain (loss) on derivatives	0	0
Expenses	24,330	25,834
Operating (loss) income	21,487	17,257
Total assets	715,413	477,836
Capital expenditures	68,073	29,432
Depletion, depreciation and amortization	4,800	3,700
Net income attributable to non-controlling interest in subsidiaries		(7,500)
Capital expenditures attributable to non-controlling interest	47,600	13,700
Operating Income (Loss) | Midstream | Operating Segments
Segment Reporting Information [Line Items]
Net income attributable to non-controlling interest in subsidiaries	(9,400)
Oil and natural gas revenues
Segment Reporting Information [Line Items]
Revenues	197,914	193,269
Oil and natural gas revenues | Corporate
Segment Reporting Information [Line Items]
Revenues	0	0
Oil and natural gas revenues | Consolidations and Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0
Oil and natural gas revenues | Exploration and Production | Operating Segments
Segment Reporting Information [Line Items]
Revenues	196,795	191,663
Oil and natural gas revenues | Midstream | Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,119	1,606
Third-party midstream services revenues
Segment Reporting Information [Line Items]
Revenues	15,830	11,838
Third-party midstream services revenues | Corporate
Segment Reporting Information [Line Items]
Revenues	0	0
Third-party midstream services revenues | Consolidations and Eliminations
Segment Reporting Information [Line Items]
Revenues	(21,919)	(18,416)
Third-party midstream services revenues | Exploration and Production | Operating Segments
Segment Reporting Information [Line Items]
Revenues	0	0
Third-party midstream services revenues | Midstream | Operating Segments
Segment Reporting Information [Line Items]
Revenues	37,749	30,254
Sales of purchased natural gas
Segment Reporting Information [Line Items]
Revenues	10,544	11,231
Sales of purchased natural gas | Corporate
Segment Reporting Information [Line Items]
Revenues	0	0
Sales of purchased natural gas | Consolidations and Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0
Sales of purchased natural gas | Exploration and Production | Operating Segments
Segment Reporting Information [Line Items]
Revenues	3,595	0
Sales of purchased natural gas | Midstream | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 6,949	$ 11,231

Subsidiary Guarantors Consolida

Subsidiary Guarantors Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Condensed Balance Sheet Statements, Captions [Line Items]
Ownership percentage	100.00%
Intercompany receivable	$ 0	$ 0
Current assets	356,635	278,492
Net property and equipment	3,887,233	3,699,595
Investment in subsidiaries	0	0
Long-term assets	89,803	91,589
Total assets	4,333,671	4,069,676	$ 3,583,298
Intercompany payable	0	0
Current liabilities	359,898	399,772
Senior unsecured notes payable	1,039,811	1,039,416
Other long-term liabilities	779,582	661,036
Total equity attributable to Matador Resources Company	1,991,349	1,833,654
Non-controlling interest in subsidiaries	163,031	135,798
Total liabilities and equity	4,333,671	4,069,676
Eliminating Entries
Condensed Balance Sheet Statements, Captions [Line Items]
Intercompany receivable	(1,608,924)	(1,607,350)
Current assets	0	0
Net property and equipment	0	0
Investment in subsidiaries	(1,686,771)	(1,476,934)
Long-term assets	(10,330)	(10,532)
Total assets	(3,306,025)	(3,094,816)
Intercompany payable	(1,608,924)	(1,607,350)
Current liabilities	(874)	(909)
Senior unsecured notes payable	0	0
Other long-term liabilities	(9,456)	(9,623)
Total equity attributable to Matador Resources Company	(1,686,771)	(1,476,934)
Non-controlling interest in subsidiaries	0	0
Total liabilities and equity	(3,306,025)	(3,094,816)
Matador | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Intercompany receivable	1,595,484	1,578,133
Current assets	7,024	29
Net property and equipment	0	0
Investment in subsidiaries	1,516,219	1,332,237
Long-term assets	0	0
Total assets	3,118,727	2,910,399
Intercompany payable	0	0
Current liabilities	2,867	0
Senior unsecured notes payable	1,039,811	1,039,416
Other long-term liabilities	84,700	37,329
Total equity attributable to Matador Resources Company	1,991,349	1,833,654
Non-controlling interest in subsidiaries	0	0
Total liabilities and equity	3,118,727	2,910,399
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Intercompany receivable	13,440	29,217
Current assets	41,840	37,933
Net property and equipment	648,361	583,899
Investment in subsidiaries	0	0
Long-term assets	2,855	3,072
Total assets	706,496	654,121
Intercompany payable	0	0
Current liabilities	52,782	73,086
Senior unsecured notes payable	0	0
Other long-term liabilities	320,131	300,540
Total equity attributable to Matador Resources Company	170,552	144,697
Non-controlling interest in subsidiaries	163,031	135,798
Total liabilities and equity	706,496	654,121
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Intercompany receivable	0	0
Current assets	307,771	240,530
Net property and equipment	3,238,872	3,115,696
Investment in subsidiaries	170,552	144,697
Long-term assets	97,278	99,049
Total assets	3,814,473	3,599,972
Intercompany payable	1,608,924	1,607,350
Current liabilities	305,123	327,595
Senior unsecured notes payable	0	0
Other long-term liabilities	384,207	332,790
Total equity attributable to Matador Resources Company	1,516,219	1,332,237
Non-controlling interest in subsidiaries	0	0
Total liabilities and equity	$ 3,814,473	$ 3,599,972

Subsidiary Guarantors Consoli_2

Subsidiary Guarantors Consolidated Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Income Statements, Captions [Line Items]
Total revenues	$ 371,585	$ 173,889
Total expenses	178,053	166,348
Operating (loss) income	193,532	7,541
Interest expense	(19,812)	(17,929)
Other (expense) income	1,320	(110)
Earnings in subsidiaries	0	0
Income (loss) before income taxes	175,040	(10,498)
Total income tax provision (benefit)	39,957	(1,013)
Net income attributable to non-controlling interest in subsidiaries	(9,354)	(7,462)
Net income (loss) attributable to Matador Resources Company shareholders	125,729	(16,947)
Eliminating Entries
Condensed Income Statements, Captions [Line Items]
Total revenues	(21,421)	(18,235)
Total expenses	(21,421)	(18,235)
Operating (loss) income	0	0
Interest expense	0	0
Other (expense) income	0	0
Earnings in subsidiaries	(193,716)	(6,629)
Income (loss) before income taxes	(193,716)	(6,629)
Total income tax provision (benefit)	0	0
Net income attributable to non-controlling interest in subsidiaries	0	0
Net income (loss) attributable to Matador Resources Company shareholders	(193,716)	(6,629)
Matador | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Total revenues	0	0
Total expenses	921	1,035
Operating (loss) income	(921)	(1,035)
Interest expense	(17,375)	(15,787)
Other (expense) income	0	0
Earnings in subsidiaries	183,982	(1,138)
Income (loss) before income taxes	165,686	(17,960)
Total income tax provision (benefit)	39,957	(1,013)
Net income attributable to non-controlling interest in subsidiaries	0	0
Net income (loss) attributable to Matador Resources Company shareholders	125,729	(16,947)
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Total revenues	45,319	42,876
Total expenses	23,794	25,505
Operating (loss) income	21,525	17,371
Interest expense	(2,437)	(2,142)
Other (expense) income	0	0
Earnings in subsidiaries	0	0
Income (loss) before income taxes	19,088	15,229
Total income tax provision (benefit)	0	0
Net income attributable to non-controlling interest in subsidiaries	(9,354)	(7,462)
Net income (loss) attributable to Matador Resources Company shareholders	9,734	7,767
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Total revenues	347,687	149,248
Total expenses	174,759	158,043
Operating (loss) income	172,928	(8,795)
Interest expense	0	0
Other (expense) income	1,320	(110)
Earnings in subsidiaries	9,734	7,767
Income (loss) before income taxes	183,982	(1,138)
Total income tax provision (benefit)	0	0
Net income attributable to non-controlling interest in subsidiaries	0	0
Net income (loss) attributable to Matador Resources Company shareholders	$ 183,982	$ (1,138)

Subsidiary Guarantors Consoli_3

Subsidiary Guarantors Consolidated Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	$ 109,372	$ 59,240
Net cash used in investing activities	(248,220)	(214,880)
Net cash provided by financing activities	130,515	118,368
Decrease in cash and restricted cash	(8,333)	(37,272)
Cash and restricted cash at beginning of period	65,128	83,984
Cash and restricted cash at end of period	56,795	46,712
Eliminating Entries
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	0	0
Net cash used in investing activities	(4,485)	0
Net cash provided by financing activities	4,485	0
Decrease in cash and restricted cash	0	0
Cash and restricted cash at beginning of period	0	0
Cash and restricted cash at end of period	0	0
Matador | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	4	(109)
Net cash used in investing activities	0	0
Net cash provided by financing activities	0	0
Decrease in cash and restricted cash	4	(109)
Cash and restricted cash at beginning of period	29	456
Cash and restricted cash at end of period	33	347
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	25,244	32,616
Net cash used in investing activities	(73,670)	(29,988)
Net cash provided by financing activities	53,500	3,968
Decrease in cash and restricted cash	5,074	6,596
Cash and restricted cash at beginning of period	24,656	18,840
Cash and restricted cash at end of period	29,730	25,436
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	84,124	26,733
Net cash used in investing activities	(170,065)	(184,892)
Net cash provided by financing activities	72,530	114,400
Decrease in cash and restricted cash	(13,411)	(43,759)
Cash and restricted cash at beginning of period	40,443	64,688
Cash and restricted cash at end of period	$ 27,032	$ 20,929