Magnolia Q2 net income falls 65% to $104.6M; production up 10%, share buyback expanded

Magnolia Oil & Gas Corp

Net income $104.6M ($0.48 diluted EPS), down 65% and 64% YoY respectively; adjusted net income $97.2M.
Production 81.9 Mboe/d, up 10% YoY and 3% sequentially on Giddings growth; oil production up 35% there.
Adjusted EBITDAX $203.3M, down 48% YoY; D&C capex $86.1M, below $100M guidance due to lower costs.
Free cash flow $93.3M; cash balance $676.6M; repurchased 2.3M shares for $44.8M, authorization increased by 10M shares.
Bolt-on Giddings acquisition closed; operating costs improved 18% sequentially to $10.33/boe.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magnolia Oil & Gas Corp reported financial results for second quarter of 2023.

Period: second quarter of 2023
Result: reported results

Exact text from the filing

On August 1, 2023, Magnolia Oil & Gas Corporation (the “Company”) issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein, announcing its financial and operational results for the quarter ended June 30, 2023.

View on SEC.gov

Browse all earnings releases →

Magnolia Oil & Gas Corp filing history →

Source: SEC EDGAR

accession 0001698990-23-000021

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.