---
schema_version: "secwatch.filing_event.v1"
accession: "0001698990-23-000021"
form_type: "8-K"
ticker: "MGY"
cik: "0001698990"
company_name: "Magnolia Oil & Gas Corp"
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T18:34:35.321595+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001698990-23-000021
- form_type: 8-K
- ticker: MGY
- cik: 0001698990
- company_name: Magnolia Oil & Gas Corp
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000021/0001698990-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000021/mgy-20230801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001698990-23-000021
- JSON: https://secwatch.observer/filing/0001698990-23-000021.json
- Plain text: https://secwatch.observer/filing/0001698990-23-000021.txt

## Key facts
- Earnings Releases
  Magnolia Oil & Gas Corp reported financial results for second quarter of 2023.
  - Period: second quarter of 2023
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698990/000169899023000021/0001698990-23-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.