secwatch.observer — SEC 8-K summary
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Issuer:     Magnolia Oil & Gas Corp (MGY)
CIK:        0001698990
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001698990-23-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magnolia Oil & Gas Q1 net income down 49% to $106.7M; cuts 2023 capex guidance
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- Net income $106.7M ($0.50 EPS), down 49% YoY; adjusted net income $119.3M, down 43%.
- Adjusted EBITDAX $216.9M (-27% YoY); D&C capex $139.7M (+68% YoY) but below guidance.
- Production 79.3 Mboe/d (+10% YoY, +8% sequential); Giddings output up 22% YoY.
- 2023 D&C capex guidance cut to $440-460M (at least 10% lower); production growth expected 5-7%.
- Repurchased 2.4M shares for $51.3M; declared $0.115/share dividend payable June 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698990/000169899023000012/0001698990-23-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698990/000169899023000012/mgy-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001698990-23-000012

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