Matador Resources Co 2025年度报告

FORM 10-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission File Number001-35410 Matador Resources Company(Exact name of registrant as specified in its charter) 27-4662601(I.R.S. EmployerIdentification No.) Texas(State or other jurisdiction ofincorporation or organization)5400 LBJ Freeway, Suite 1500(Address of principal executive offices) (Zip Code) (972) 371-5200(Registrant’s telephone number, including area code)_________________________________________________________ Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered New York Stock Exchange Securities registered pursuant to Section12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ Acceleratedfiler☐Smallerreportingcompany☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☒ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statementsof the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ The aggregate market value of the voting and non-voting common equity of the registrant held by non-affiliates, computed by reference tothe price at which the common equity was last sold, as of the last business day of the registrant’s most recently completed second fiscalquarter was $5,506,467,014. As of February24, 2026, there were 124,249,941 shares of common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III of this Annual Report on Form 10-K, to the extent not set forth herein, is incorporated by reference tothe registrant’s definitive proxy statement relating to the 2026 Annual Meeting of Shareholders, which will be filed with the Securities andExchange Commission within 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates. Auditor Firm ID: 185 Auditor Location: Dallas, TX Auditor Name: KPMG LLP MATADOR RESOURCES COMPANYFORM 10-KFOR THE FISCAL YEAR ENDED DECEMBER 31, 2025TABLE OF CONTENTS PART I ITEM1.BusinessITEM1A.Risk FactorsITEM1B.Unresolved Staff CommentsITEM1C.CybersecurityITEM2.PropertiesITEM3.Legal ProceedingsITEM4.Mine Safety Disclosures PART II ITEM5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesITEM6.Selected Financial DataITEM7.Management’s Discussion and Analysis of Financial Condition and Results of OperationsITEM7A.Quantitative and Qualitative Disclosures about Market RiskITEM8.Financial Statements and Supplementary DataITEM9.Changes in and