Magnolia Q2 net income $116.2M; adjusted EPS $0.56; production rises 4% sequentially; declares dividend

Magnolia Oil & Gas Corp

Net income of $116.2M ($0.48 diluted EPS); adjusted net income $135.0M ($0.56 adjusted EPS).
Adjusted EBITDAX of $195.1M, up 29% sequentially; D&C capex $53.8M (28% of EBITDAX).
Q2 production 64.9 Mboe/d (+4% seq); oil production up 11% seq to 31.9 MBbls/d.
Repurchased $120.7M of shares in Q2; diluted share count expected to fall to 237M in Q3.
Declared first semi-annual dividend of $0.08/share payable Sep 1, 2021.

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