MATADOR RESOURCES
MTDR
Energy
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Matador Resources is an independent exploration and production company whose core business is the extraction of oil and natural gas. Its operations are concentrated in the Delaware Basin, a sub-basin of the Permian Basin in Texas and New Mexico. In 2025, the company reported average daily oil production of approximately 121,363 barrels and has consistently grown its production volumes and proved reserves, which reached 667 million barrels of oil equivalent.
The company’s operations have resulted in significant regulatory enforcement for environmental violations. In March 2023, Matador Production Company, a subsidiary, agreed to a settlement with the United States and the State of New Mexico to resolve alleged Clean Air Act violations at 239 of its oil and gas well pads in New Mexico. The settlement required the company to pay over $6 million in penalties and implement compliance measures after the alleged violations caused significant excess emissions of volatile organic compounds, nitrogen oxides, and carbon monoxide.
Matador Resources continues to expand its upstream production and related midstream infrastructure in the Delaware Basin, with no announced plan to transition away from fossil fuel extraction.
Matador Production Company, a subsidiary of Matador Resources, operates 239 oil and gas wells across New Mexico. On March 27, 2023, the United States Department of Justice and Environmental Protection Agency announced a settlement with the company for violations of the Clean Air Act. The EPA had issued a Notice and Finding of Violation in November 2019, citing failures to capture and control emissions of volatile organic compounds and hazardous air pollutants from storage tanks and other equipment at these sites.
The consent decree requires Matador to pay a civil penalty and implement a compliance program to reduce air pollution across its New Mexico operations. This enforcement action documents a pattern of regulatory non-compliance leading to environmental harm, as the uncontrolled emissions contribute to the formation of ground-level ozone and can release toxic chemicals like benzene.
Research Sources
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
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