Question · Q3 2025
Neil Hunknes inquired about Matador's water handling strategy, the role of San Mateo, and the general growth aspects and outlook for the water handling business, especially with increased trim-frac and simul-frac operations.
Answer
Joseph Foran, Founder, Chairman and CEO, and Bryan Willey, EVP, Midstream, discussed Matador's planned $40-$50 million investment in its wholly-owned midstream business for water gathering in the AmeriDev and Hat Mesa areas. This investment supports increased use of produced water for hydraulic fracturing, reducing lease operating expenses and frac capital spend. Bryan Willey noted San Mateo's critical partnership with Matador (70-80% revenue from Matador) and planned capital expenditures for continued growth and expansion.