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Subsidiary Guarantors
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
SUBSIDIARY GUARANTORS SUBSIDIARY GUARANTORS
The Notes are jointly and severally guaranteed by certain subsidiaries of Matador (the “Guarantor Subsidiaries”) on a full and unconditional basis (except for customary release provisions). At June 30, 2020, the Guarantor Subsidiaries were 100% owned by Matador. Matador is a parent holding company and has no independent assets or operations, and there are no significant restrictions on the ability of Matador to obtain funds from the Guarantor Subsidiaries by dividend or loan. San Mateo and its subsidiaries (the “Non-Guarantor Subsidiaries”) are not guarantors of the Notes.
The following tables present condensed consolidating financial information of Matador (as issuer of the Notes), the Non-Guarantor Subsidiaries, the Guarantor Subsidiaries and all entities on a consolidated basis (in thousands). Elimination entries are necessary to combine the entities. This financial information is presented in accordance with the requirements of Rule 3-10 of Regulation S-X. The following financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantor Subsidiaries operated as independent entities.
Condensed Consolidating Balance Sheet
June 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
ASSETS
Intercompany receivable$1,600,300  $15,508  $—  $(1,615,808) $—  
Current assets6,917  34,186  186,180  —  227,283  
Net property and equipment—  707,472  2,955,455  —  3,662,927  
Investment in subsidiaries1,070,647  —  185,216  (1,255,863) —  
Long-term assets35,694  2,626  83,628  (11,025) 110,923  
Total assets$2,713,558  $759,792  $3,410,479  $(2,882,696) $4,001,133  
LIABILITIES AND EQUITY
Intercompany payable$—  $—  $1,615,808  $(1,615,808) $—  
Current liabilities18,429  66,591  260,682  (933) 344,769  
Senior unsecured notes payable1,040,207  —  —  —  1,040,207  
Other long-term liabilities11,090  333,316  463,342  (10,092) 797,656  
Total equity attributable to Matador Resources Company1,643,832  185,216  1,070,647  (1,255,863) 1,643,832  
Non-controlling interest in subsidiaries—  174,669  —  —  174,669  
Total liabilities and equity$2,713,558  $759,792  $3,410,479  $(2,882,696) $4,001,133  
Condensed Consolidating Balance Sheet
December 31, 2019
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
ASSETS
Intercompany receivable$1,578,133  $29,217  $—  $(1,607,350) $—  
Current assets29  37,933  240,530  —  278,492  
Net property and equipment—  583,899  3,115,696  —  3,699,595  
Investment in subsidiaries1,332,237  —  144,697  (1,476,934) —  
Long-term assets—  3,072  99,049  (10,532) 91,589  
Total assets$2,910,399  $654,121  $3,599,972  $(3,094,816) $4,069,676  
LIABILITIES AND EQUITY
Intercompany payable$—  $—  $1,607,350  $(1,607,350) $—  
Current liabilities—  73,086  327,595  (909) 399,772  
Senior unsecured notes payable1,039,416  —  —  —  1,039,416  
Other long-term liabilities37,329  300,540  332,790  (9,623) 661,036  
Total equity attributable to Matador Resources Company1,833,654  144,697  1,332,237  (1,476,934) 1,833,654  
Non-controlling interest in subsidiaries—  135,798  —  —  135,798  
Total liabilities and equity$2,910,399  $654,121  $3,599,972  $(3,094,816) $4,069,676  
Condensed Consolidating Statement of Operations
For the Three Months Ended June 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$—  $41,544  $42,089  $(20,713) $62,920  
Total expenses1,224  23,190  494,529  (20,713) 498,230  
Operating (loss) income (1,224) 18,354  (452,440) —  (435,310) 
Net loss on asset sales and impairment—  (1,261) (1,371) —  (2,632) 
Interest expense(16,443) (1,854) —  —  (18,297) 
Other income—  13  460  —  473  
(Loss) earnings in subsidiaries(445,572) —  7,779  437,793  —  
(Loss) income before income taxes(463,239) 15,252  (445,572) 437,793  (455,766) 
Total income tax benefit(109,823) —  —  —  (109,823) 
Net income attributable to non-controlling interest in subsidiaries—  (7,473) —  —  (7,473) 
Net (loss) income attributable to Matador Resources Company shareholders$(353,416) $7,779  $(445,572) $437,793  $(353,416) 
Condensed Consolidating Statement of Operations
For the Three Months Ended June 30, 2019
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$—  $41,720  $216,885  $(16,901) $241,704  
Total expenses901  22,564  158,351  (16,901) 164,915  
Operating (loss) income (901) 19,156  58,534  —  76,789  
Net loss on asset sales and impairment—  —  (368) —  (368) 
Interest expense(15,888) (2,180) —  —  (18,068) 
Other income (expense)—  3  (426) —  (423) 
Earnings in subsidiaries66,399  —  8,659  (75,058) —  
Income before income taxes49,610  16,979  66,399  (75,058) 57,930  
Total income tax provision12,858  —  —  —  12,858  
Net income attributable to non-controlling interest in subsidiaries—  (8,320) —  —  (8,320) 
Net income attributable to Matador Resources Company shareholders$36,752  $8,659  $66,399  $(75,058) $36,752  
Condensed Consolidating Statement of Operations
For the Six Months Ended June 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$—  $86,863  $389,776  $(42,134) $434,505  
Total expenses2,145  46,984  669,288  (42,134) 676,283  
Operating (loss) income (2,145) 39,879  (279,512) —  (241,778) 
Net loss on asset sales and impairment—  (1,261) (1,371) —  (2,632) 
Interest expense(33,818) (4,291) —  —  (38,109) 
Other income—  13  1,780  —  1,793  
(Loss) earnings in subsidiaries(261,590) —  17,513  244,077  —  
(Loss) income before income taxes(297,553) 34,340  (261,590) 244,077  (280,726) 
Total income tax benefit(69,866) —  —  —  (69,866) 
Net income attributable to non-controlling interest in subsidiaries—  (16,827) —  —  (16,827) 
Net (loss) income attributable to Matador Resources Company shareholders$(227,687) $17,513  $(261,590) $244,077  $(227,687) 
Condensed Consolidating Statement of Operations
For the Six Months Ended June 30, 2019
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$—  $84,596  $366,133  $(35,136) $415,593  
Total expenses1,936  48,069  316,395  (35,136) 331,264  
Operating (loss) income (1,936) 36,527  49,738  —  84,329  
Net loss on asset sales and impairment—  —  (368) —  (368) 
Interest expense(31,675) (4,322) —  —  (35,997) 
Other income (expense)—  3  (535) —  (532) 
Earnings in subsidiaries65,261  —  16,426  (81,687) —  
Income before income taxes31,650  32,208  65,261  (81,687) 47,432  
Total income tax provision11,845  —  —  —  11,845  
Net income attributable to non-controlling interest in subsidiaries—  (15,782) —  —  (15,782) 
Net income attributable to Matador Resources Company shareholders$19,805  $16,426  $65,261  $(81,687) $19,805  
Condensed Consolidating Statement of Cash Flows
For the Six Months Ended June 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Net cash provided by operating activities$3  $45,408  $164,974  $—  $210,385  
Net cash used in investing activities—  (124,180) (334,509) (72) (458,761) 
Net cash provided by financing activities—  77,050  149,634  72  226,756  
Increase (decrease) in cash and restricted cash3  (1,722) (19,901) —  (21,620) 
Cash and restricted cash at beginning of period29  24,656  40,443  —  65,128  
Cash and restricted cash at end of period$32  $22,934  $20,542  $—  $43,508  
Condensed Consolidating Statement of Cash Flows
For the Six Months Ended June 30, 2019
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Net cash (used in) provided by operating activities$(109) $51,266  $143,340  $—  $194,497  
Net cash used in investing activities—  (59,309) (327,195) (8,190) (394,694) 
Net cash provided by financing activities—  13,584  179,201  8,190  200,975  
(Decrease) increase in cash and restricted cash(109) 5,541  (4,654) —  778  
Cash and restricted cash at beginning of period456  18,841  64,687  —  83,984  
Cash and restricted cash at end of period $347  $24,382  $60,033  $—  $84,762