Matador Resources Company (MTDR), an independent energy firm, recently announced a change in management.
Per the announcement, the executive Vice President of operations, Mr. Matthew V. Hairford has been promoted to the post of President on Nov 18. Mr. Hairford, who replaced Mr. Joseph Wm. Foran, had joined the company in Jul 2004 as a drilling manager. However, Mr. Foran will remain the Chairman of Matador Resources’ board and also the Chief Executive Officer.
In 1984, Mr. Hairford started his career at Conoco Inc., a U.S.-based oil firm. On Aug 30, 2002, Conoco Inc merged with Phillips Petroleum Co to form ConocoPhillips (COP), the largest independent exploration and production firm in the world.
Mr. Hairford had led the operations team efficiently with his vast knowledge of the oil and gas sector. He has also helped Matador Resources in exploring major plays like the Eagle Ford shale and the Permian Basin.
Matador Resources is involved in exploring, developing and producing US based oil gas properties. The company is also engaged in the acquisition of those assets. Matador Resources is focusing mainly on liquid rich resources like South Texas’ Eagle Ford shale play and Permian Basin’s Wolfcamp and Bone Spring plays.
Dallas, Texas based Matador Resources currently holds a Zacks Rank #1 (Strong Buy), implying that it is expected to significantly outperform the broader U.S. equity market over the next one to three months.