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XEC - Matador Resources Not Prioritizing Investor Returns
Cimarex Energy Co
In terms of exploration and production, Matador Resources Company (MTDR) could be considered more a novillos (a novice, in bull-fighting terms) in its competition with the other Permian producers rather than a star bullfighter (matador).
It has nonetheless grown its New Mexico-focused operations and made good use of its much-needed San Mateo midstream assets, from which it also collects third-party revenue.
But competition in the Permian and globally will only get more serious. Chevron (CVX) and ExxonMobil (XOM) continue to ramp up in the Permian. In