Matador Resources Co PP&E Disclosure
| December 31, | ||||||||||||||
| 2025 | 2024 | |||||||||||||
| Oil and natural gas properties | ||||||||||||||
| Evaluated (subject to depletion) | $ | 14,286,726 | $ | 12,534,290 | ||||||||||
| Unproved and unevaluated (not subject to depletion) | 1,823,456 | 1,702,203 | ||||||||||||
| Total oil and natural gas properties | 16,110,182 | 14,236,493 | ||||||||||||
| Accumulated depletion | (7,093,268) | (5,959,845) | ||||||||||||
| Net oil and natural gas properties | 9,016,914 | 8,276,648 | ||||||||||||
| Midstream properties | ||||||||||||||
| Midstream equipment and facilities | 1,963,059 | 1,683,334 | ||||||||||||
| Accumulated depreciation | (264,938) | (211,048) | ||||||||||||
| Net midstream properties | 1,698,121 | 1,472,286 | ||||||||||||
| Other property and equipment | ||||||||||||||
| Furniture, fixtures and other equipment | 22,810 | 20,007 | ||||||||||||
| Software | 8,361 | 8,283 | ||||||||||||
| Leasehold improvements | 22,028 | 19,242 | ||||||||||||
| Total other property and equipment | 53,199 | 47,532 | ||||||||||||
| Accumulated depreciation | (36,936) | (32,370) | ||||||||||||
| Net other property and equipment | 16,263 | 15,162 | ||||||||||||
| Net property and equipment | $ | 10,731,298 | $ | 9,764,096 | ||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 29, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.