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Subsidiary Guarantors
 9 Months Ended
Sep. 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 September 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
September 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
ASSETS
Intercompany receivable$1,568,806 $17,799 $— $(1,586,605)$— 
Current assets7,158 39,043 191,023 — 237,224 
Net property and equipment— 756,758 2,725,751 — 3,482,509 
Investment in subsidiaries838,465 — 221,183 (1,059,648)— 
Long-term assets805 2,433 73,824 (10,565)66,497 
Total assets$2,415,234 $816,033 $3,211,781 $(2,656,818)$3,786,230 
LIABILITIES AND EQUITY
Intercompany payable$— $— $1,586,605 $(1,586,605)$— 
Current liabilities— 49,558 237,727 (926)286,359 
Senior unsecured notes payable1,040,602 — — — 1,040,602 
Other long-term liabilities2,699 339,596 548,984 (9,639)881,640 
Total equity attributable to Matador Resources Company1,371,933 221,183 838,465 (1,059,648)1,371,933 
Non-controlling interest in subsidiaries— 205,696 — — 205,696 
Total liabilities and equity$2,415,234 $816,033 $3,211,781 $(2,656,818)$3,786,230 
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)$4,069,676 
Condensed Consolidating Statement of Operations
For the Three Months Ended September 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$— $46,965 $177,538 $(21,117)$203,386 
Total expenses921 24,903 419,820 (21,117)424,527 
Operating (loss) income (921)22,062 (242,282)— (221,141)
Interest expense(16,465)(1,766)— — (18,231)
Other income (expense)— 27 (265)— (238)
(Loss) earnings in subsidiaries(232,181)— 10,366 221,815 — 
(Loss) income before income taxes(249,567)20,323 (232,181)221,815 (239,610)
Total income tax provision26,497 — — — 26,497 
Net income attributable to non-controlling interest in subsidiaries— (9,957)— — (9,957)
Net (loss) income attributable to Matador Resources Company shareholders$(276,064)$10,366 $(232,181)$221,815 $(276,064)
Condensed Consolidating Statement of Operations
For the Three Months Ended September 30, 2019
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$— $52,776 $246,235 $(19,609)$279,402 
Total expenses1,034 30,317 181,558 (19,609)193,300 
Operating (loss) income (1,034)22,459 64,677 — 86,102 
Net loss on asset sales and impairment— — (439)— (439)
Interest expense(15,716)(2,459)— — (18,175)
Other expense— — (245)— (245)
Earnings in subsidiaries74,193 — 10,200 (84,393)— 
Income before income taxes57,443 20,000 74,193 (84,393)67,243 
Total income tax provision13,490 — — — 13,490 
Net income attributable to non-controlling interest in subsidiaries— (9,800)— — (9,800)
Net income attributable to Matador Resources Company shareholders$43,953 $10,200 $74,193 $(84,393)$43,953 
Condensed Consolidating Statement of Operations
For the Nine Months Ended September 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$— $133,828 $567,314 $(63,251)$637,891 
Total expenses3,066 71,887 1,089,108 (63,251)1,100,810 
Operating (loss) income (3,066)61,941 (521,794)— (462,919)
Net loss on asset sales and impairment— (1,261)(1,371)— (2,632)
Interest expense(50,283)(6,057)— — (56,340)
Other income— 40 1,515 — 1,555 
(Loss) earnings in subsidiaries(493,771)— 27,879 465,892 — 
(Loss) income before income taxes(547,120)54,663 (493,771)465,892 (520,336)
Total income tax benefit(43,369)— — — (43,369)
Net income attributable to non-controlling interest in subsidiaries— (26,784)— — (26,784)
Net (loss) income attributable to Matador Resources Company shareholders$(503,751)$27,879 $(493,771)$465,892 $(503,751)
Condensed Consolidating Statement of Operations
For the Nine Months Ended September 30, 2019
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Total revenues$— $137,372 $612,368 $(54,745)$694,995 
Total expenses2,970 78,386 497,953 (54,745)524,564 
Operating (loss) income (2,970)58,986 114,415 — 170,431 
Net loss on asset sales and impairment— — (807)— (807)
Interest expense(47,391)(6,781)— — (54,172)
Other income (expense)— 3 (780)— (777)
Earnings in subsidiaries139,454 — 26,626 (166,080)— 
Income before income taxes89,093 52,208 139,454 (166,080)114,675 
Total income tax provision25,335 — — — 25,335 
Net income attributable to non-controlling interest in subsidiaries— (25,582)— — (25,582)
Net income attributable to Matador Resources Company shareholders$63,758 $26,626 $139,454 $(166,080)$63,758 
Condensed Consolidating Statement of Cash Flows
For the Nine Months Ended September 30, 2020
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Net cash provided by operating activities$42 $70,203 $249,714 $— $319,959 
Net cash used in investing activities— (198,892)(487,793)25,530 (661,155)
Net cash provided by financing activities— 130,122 239,379 (25,530)343,971 
Increase in cash and restricted cash42 1,433 1,300 — 2,775 
Cash and restricted cash at beginning of period29 24,656 40,443 — 65,128 
Cash and restricted cash at end of period$71 $26,089 $41,743 $— $67,903 
Condensed Consolidating Statement of Cash Flows
For the Nine Months Ended September 30, 2019
MatadorNon-Guarantor SubsidiariesGuarantor SubsidiariesEliminating EntriesConsolidated
Net cash (used in) provided by operating activities$(423)$82,812 $270,738 $— $353,127 
Net cash used in investing activities— (116,967)(507,938)(14,144)(639,049)
Net cash provided by financing activities— 39,888 188,712 14,144 242,744 
(Decrease) increase in cash and restricted cash(423)5,733 (48,488)— (43,178)
Cash and restricted cash at beginning of period456 18,841 64,687 — 83,984 
Cash and restricted cash at end of period $33 $24,574 $16,199 $— $40,806