secwatch.observer — SEC 8-K summary
======================================

Issuer:     Magnolia Oil & Gas Corp (MGY)
CIK:        0001698990
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001698990-23-000021
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698990/000169899023000021/0001698990-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698990/000169899023000021/mgy-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001698990-23-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer