Crude Oil, Condensate, & Natural Gas Liquids (Ngl) was Matador Resources’s largest product and service line in fiscal 2025, bringing in $2.84B of $3.66B (78%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crude Oil, Condensate, & Natural Gas Liquids (Ngl) | — | $2.14B | $2.77B | $2.84B | ||||||
| Oil | $2.11B | — | — | — | ||||||
| Oil & Natural Gas Revenues | — | — | — | — | ||||||
| Natural Gas Revenues | $792.13M | $400.71M | $371.47M | $398.58M | ||||||
| Sales Of Purchased Natural Gas | $200.36M | $149.87M | $194.10M | $253.03M | ||||||
| Third-Party Midstream Services Revenues | $90.61M | $122.15M | $141.03M | $164.73M | ||||||
| Total | $3.20B | $2.82B | $3.48B | $3.66B |
Matador Resources brought in $3.66B from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 5.1% from $3.48B in fiscal 2024. Crude Oil, Condensate, & Natural Gas Liquids (Ngl) was the largest at $2.84B (77.7%), ahead of Natural Gas Revenues at $398.58M (10.9%) and Sales Of Purchased Natural Gas at $253.03M (6.9%). The remaining line, Third-Party Midstream Services Revenues, brought in $164.73M.
Compared with fiscal 2024, Sales Of Purchased Natural Gas grew fastest, up 30.4% to $253.03M. Every line above 2% of revenue grew.
Matador Resources began breaking out Crude Oil, Condensate, & Natural Gas Liquids (Ngl) in fiscal 2023, when it brought in $2.14B. Matador Resources stopped reporting Oil as a separate line after fiscal 2022, when it brought in $2.11B.
Guarantor Subsidiaries was Matador Resources’s largest revenue line in fiscal 2015, bringing in $316.07M of $322.38M (98%).
| Consolidated Entities | FY 2015 |
|---|---|
| Guarantor Subsidiaries | $316.07M |
| Non-Guarantor Subsidiaries | $6.31M |
| Total | $322.38M |
Matador Resources brought in $322.38M from its two revenue lines in fiscal 2015, the year ended December 31, 2015. Guarantor Subsidiaries was the largest at $316.07M (98.0%), ahead of Non-Guarantor Subsidiaries at $6.31M (2.0%).
Exploration & Production was Matador Resources’s largest segment in fiscal 2018, bringing in $795.16M of $894.51M (89%).
| Segment | FY 2016 | FY 2018 |
|---|---|---|
| Exploration & Production | $289.51M | $795.16M |
| Midstream | $1.64M | $99.35M |
| Total | $291.16M | $894.51M |
Matador Resources brought in $894.51M from its two segments in fiscal 2018, the year ended December 31, 2018. That was up 207.2% from $291.16M in fiscal 2016, the previous year with figures. Exploration & Production was the largest at $795.16M (88.9%), ahead of Midstream at $99.35M (11.1%).
Compared with fiscal 2016, the previous year with figures, Midstream grew 5,942.9% to $99.35M and Exploration & Production grew 174.7% to $795.16M. From fiscal 2016 to 2018, combined revenue from these segments grew from $291.16M to $894.51M, a compound annual growth rate of 75.3%. Exploration & Production's share of the total fell from 99.4% to 88.9%.
Matador Resources (MTDR) reports its revenue by product and service, by consolidated entities and by segment. In fiscal 2025, Crude Oil, Condensate, & Natural Gas Liquids (Ngl) was its largest product and service line, bringing in $2.84B (77.7% of the total), followed by Natural Gas Revenues at $398.58M (10.9%).
Crude Oil, Condensate, & Natural Gas Liquids (Ngl) was Matador Resources' largest product and service line in fiscal 2025, bringing in $2.84B, or 77.7% of the $3.66B total across its four product and service lines.
Guarantor Subsidiaries was Matador Resources' largest revenue line in fiscal 2015, bringing in $316.07M, or 98.0% of the $322.38M total across its two revenue lines.
Exploration & Production was Matador Resources' largest segment in fiscal 2018, bringing in $795.16M, or 88.9% of the $894.51M total across its two segments.
Among Matador Resources' product and service lines that make up at least 2% of revenue, Sales Of Purchased Natural Gas grew fastest in fiscal 2025, up 30.4% from $194.10M to $253.03M.
Every figure comes from Matador Resources' annual financial filings, as reported. Each line keeps the name Matador Resources gives it, and years follow its fiscal calendar.
Matador Resources' revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.