Joseph Wm. Foran and Scott E. King founded Matador Resources Company in July 2003 with an initial $6.0 million equity investment. Soon after, investors contributed $46.8 million, bringing total initial capitalization to $52.8 million. Most of this initial capital was provided by the same institutional and individual investors who helped capitalize Mr. Foran’s previous company, Matador Petroleum Corporation.

Our roots trace back to 1983, when Mr. Foran began his career as an oil and natural gas independent. That year he founded Foran Oil Company with $270,000 in contributed capital from 17 friends and family members. Foran Oil Company was later contributed to Matador Petroleum Corporation, which Mr. Foran formed in 1988.

Mr. Foran served as chairman and chief executive officer of Matador Petroleum from its inception until its sale in June 2003 to Tom Brown, Inc. in a $388.5 million all-cash transaction.