Matador Resources Co. recently announced the promotions of Billy E. Goodwin to president of operations and Van H. Singleton II to president of land, A&D and planning, both effective March 31.

“Billy and Van have been key participants in all major company decisions for the past 10 years and are ready for their new responsibilities,” Joseph Wm. Foran, Matador’s founder, chairman and CEO, commented in a company release on Jan. 10.

Goodwin joined the company in July 2010 as its drilling manager and has been instrumental in streamlining and improving Matador’s operations across the board. Meanwhile, Singleton joined the company in August 2007 as a landman and has also played a pivotal role at Matador in developing and executing the “brick by brick” strategy used by the company to build its acreage positions in both the Eagle Ford Shale in South Texas and in the Delaware Basin in West Texas and New Mexico.

At the same time as their promotions, Matador said President Matthew V. Hairford and David E. Lancaster, executive vice president and CFO, both plan to retire and are transitioning to new duties as special advisers to Matador’s board of directors and executive committee. In assuming the roles of special advisers, Hairford and Lancaster are expected to work on various special projects and board matters of significance to Matador through year-end 2023.

“Both Matt and David have played pivotal roles at Matador since inception and will continue to do so focusing on the most value-added and critical activities to Matador,” Foran said in the release.

After this transition, the roles of Matador’s five main executive officers will consist of:

  • Joseph Wm. Foran, founder, chairman of the board and CEO;
  • Billy E. Goodwin, president – operations;
  • Van H. Singleton II, president – land, acquisitions and divestitures and planning;
  • Craig N. Adams, executive vice president, co-COO, chief of staff and corporate secretary; and
  • G. Gregg Krug, executive vice president – marketing and midstream strategy.

“Billy, Gregg Krug and Matt have all worked closely together before and since their college days 40 years ago and have made a formidable team for helping to grow Matador’s and San Mateo’s value,” Foran added.

Following Lancaster’s retirement his former responsibilities as CFO and leader of the planning process of Matador will be assumed by a “diverse and highly experienced team” currently supporting Lancaster’s activities, according to the company release on Jan. 10.

The Matador finance team will include:

  • Christopher P. Calvert, senior vice president of operations;
  • W. Thomas Elsener, senior vice president of reservoir engineering and senior asset manager;
  • Robert T. Macalik, senior vice president and chief accounting officer;
  • Glenn W. Stetson, senior vice president of production; and
  • Michael D. Frenzel, senior vice president and treasurer, who will also serve as principal financial officer of the company.

All five of these officers have already served in key leadership roles with the Company and have been actively involved in Matador’s finance, banking, planning, operations, accounting and investor relations activities, in Matador’s drilling and acquisition programs and in San Mateo’s business activities, the release said.

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