debt_leverage_profile
0.60x Total Debt / Equity (Moderate leverage)
High
SEC-XBRL
interest_rate_sensitivity
A 200bps rate increase raises annual interest expense ~$40-60M given ~$2.8B debt load; floating-rate RBL facility amplifies exposure materially
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Permian Basin pipeline takeaway capacity (Waha hub bottlenecks) and Gulf Coast LNG export terminal access are top two chokepoints
Inferred
Agent_Inference
international_expansion_readiness
Matador operates almost exclusively in US domestic basins; sovereign currency devaluation exposure is effectively zero across revenue base
Inferred
Agent_Inference
geographic_footprint
Essentially 100% US-domiciled revenue (Delaware Basin, Eagle Ford, Haynesville); no material international currency devaluation exposure
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Crude Oil, Natural Gas, Coal, Refined Petroleum Products, Uranium, Steel (equipment); geopolitical: OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Midstream affiliate San Mateo Midstream handles significant gathering/processing; functional near-captive relationship represents high operational dependency
Inferred
Agent_Inference
business_model_type_primary
Cloud infrastructure termination is operationally immaterial; core business runs on field SCADA, oilfield software, and ERP systems, not cloud-native architecture
Inferred
Agent_Inference
business_model_type_secondary
Upstream E&P with midstream JV segment (San Mateo); secondary revenue from third-party midstream throughput fees adds modest recurring cash flow
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; operational systems are oilfield-standard (Quorum, Enverus, Wellview); no proprietary API lock-in identified
Inferred
Agent_Inference
howey_test_risk_index
Low Howey risk; revenue from commodity hydrocarbon sales is not a security; equity shares are conventional registered securities
Inferred
Agent_Inference
regulatory_burden_tier
High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Minimal GDPR/CCPA exposure; no consumer data monetization; operational data is field/industrial in nature with limited personal data processing
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; Matador holds ~3% Permian market share; no dominant pricing power or exclusionary conduct pattern identified
Inferred
Agent_Inference
regulatory_exposure_profile
High burden; regimes: EPA, FERC, DOE, CFTC, OSHA, SEC; Accelerating emissions mandates and methane rules threaten capex economics.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~95% transactional (spot and hedged commodity sales); ~5% quasi-recurring midstream throughput fees; no subscription revenue
Inferred
Agent_Inference
monetization_vector
Commodity price realization per BOE (oil, gas, NGL) plus third-party midstream gathering and processing fees via San Mateo JV
Inferred
Agent_Inference
pricing_architecture
Price-taker model; realized prices driven by WTI/Henry Hub benchmarks less differentials; no proprietary pricing power; hedges ~30-40% of volumes
Inferred
Agent_Inference
pricing_power_rating
Minimal standalone pricing power; rated 2/10 as pure commodity price-taker; hedging program provides partial downside buffer only
Inferred
Agent_Inference
target_gross_margin_bracket
Upstream operating margin typically 55-65% at $70-80 WTI; total company EBITDA margin ~55-60%; highly sensitive to commodity price swings
Inferred
Agent_Inference
churn_vulnerability_index
No free-rider leakage problem; commodity buyers are contractual counterparties; customer attrition risk is low but price-driven volume diversion possible
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is sublinear to headcount; production growth primarily capital-driven (drilling rigs, completions); G&A per BOE declines at scale
Inferred
Agent_Inference
marginal_cost_of_growth
Marginal cost of growth is capital-intensive (D&C cost ~$900/BOE initial); operational leverage improves at scale; headcount doubling not required to double production
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; Matador does not operate a franchise model
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, midstream throughput economics improve significantly; upstream F&D costs likely compress to $8-10/BOE with Tier 1 inventory depth as binding constraint
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; value is geological/operational not platform-based; San Mateo midstream has modest local network density benefit only
Inferred
Agent_Inference
asset_efficiency_ratio
8.8% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 4 (cyclically exposed); revenue highly correlated with oil/gas prices which historically decline 30-50% in recessions; hedging provides partial buffer
Inferred
Agent_Inference
customer_segment_primary
Commodity purchasers (refiners, marketers, utilities); top customer likely represents 15-25% of revenue but is substitutable among creditworthy counterparties
Inferred
Agent_Inference
customer_segment_secondary
Third-party E&P producers using San Mateo midstream services; growing segment providing fee-based revenue diversification within Delaware Basin
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "19-0000 Life, Physical, and Social Science Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations", "53-0000 Transportation and Material Moving Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.33 (HIL — ~33% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
Capital actively reallocating toward Permian Delaware Basin development and San Mateo midstream expansion; legacy Eagle Ford and Haynesville receiving declining relative allocation
Inferred
Agent_Inference
sec_cik
0001520006
High
SEC-EDGAR
ticker
MTDR
High
SEC-EDGAR