$MGY

Magnolia Oil & Gas Corp

CIK:0001698990|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
REVENUES
Total revenues	$ 478,811	$ 318,981	$ 837,322	$ 669,282
OPERATING EXPENSES
Lease operating expenses	48,409	43,590	96,160	90,665
Gathering, transportation and processing	17,202	16,489	35,410	31,442
Taxes other than income	22,757	18,802	39,144	38,907
Exploration expenses	213	363	1,955	711
Asset retirement obligations accretion	1,862	1,563	3,719	3,119
Depreciation, depletion and amortization	116,516	107,082	229,874	212,935
General and administrative expenses	29,151	23,278	60,595	47,867
Transaction related costs	3,200	0	3,200	0
Total operating expenses	239,310	211,167	470,057	425,646
OPERATING INCOME	239,501	107,814	367,265	243,636
OTHER EXPENSE
Interest expense, net	(6,720)	(5,604)	(12,724)	(10,856)
Other income (expense), net	(379)	(244)	(415)	971
Total other expense, net	(7,099)	(5,848)	(13,139)	(9,885)
INCOME BEFORE INCOME TAXES	232,402	101,966	354,126	233,751
Income tax expense	50,626	20,938	71,514	46,075
NET INCOME	181,776	81,028	282,612	187,676
LESS: Net income attributable to noncontrolling interest	0	2,911	1,011	6,632
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK	$ 181,776	$ 78,117	$ 281,601	$ 181,044
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic (in shares)	184,574	186,518	183,924	187,579
Diluted (in shares)	184,586	186,530	183,936	187,591
COMPREHENSIVE INCOME:
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK	$ 181,776	$ 78,117	$ 281,601	$ 181,044
Other comprehensive income, net of tax:
Postretirement benefits	32	0	55	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK	$ 181,808	$ 78,117	$ 281,656	$ 181,044
Class A Common Stock
NET INCOME PER SHARE OF CLASS A COMMON STOCK
Basic (in dollars per share)	$ 0.97	$ 0.41	$ 1.51	$ 0.95
Diluted (in dollars per share)	$ 0.97	$ 0.41	$ 1.51	$ 0.95
Oil revenues
REVENUES
Total revenues	$ 373,759	$ 226,345	$ 631,088	$ 471,879
Natural gas revenues
REVENUES
Total revenues	39,669	42,850	91,469	94,218
Natural gas liquids revenues
REVENUES
Total revenues	$ 65,383	$ 49,786	$ 114,765	$ 103,185

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME	$ 81,028	$ 282,612	$ 187,676
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	107,082	229,874	212,935
Asset retirement obligations accretion	1,563	3,719	3,119
Amortization of deferred financing costs		1,099	1,072
Deferred income tax expense	16,812	65,086	29,153
Gain on revaluation of contingent consideration	(2,700)	0	(4,004)
Stock based compensation		21,885	13,852
Other		4,261	2,875
Changes in operating assets and liabilities:
Accounts receivable		(38,724)	(13,732)
Accounts payable		(4,593)	(15,525)
Accrued liabilities		(4,228)	13,248
Other assets and liabilities, net		20,651	(7,481)
Net cash provided by operating activities		581,642	423,188
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions		(156,209)	(39,653)
Additions to oil and natural gas properties		(253,557)	(231,455)
Changes in working capital associated with additions to oil and natural gas properties		25,208	2,770
Other investing		6,578	5,771
Net cash used in investing activities		(377,980)	(262,567)
CASH FLOW FROM FINANCING ACTIVITIES
Dividends paid		(61,246)	(57,261)
Distributions to noncontrolling interest owners		(911)	(1,842)
Other financing activities		(9,953)	(8,874)
Net cash used in financing activities		(174,509)	(168,909)
NET CHANGE IN CASH AND CASH EQUIVALENTS		29,153	(8,288)
Cash and cash equivalents – Beginning of period		266,785	260,049
Cash and cash equivalents – End of period	$ 251,761	295,938	251,761
Class A Common Stock
CASH FLOW FROM FINANCING ACTIVITIES
Class A and B Common Stock purchases and cancellations		(82,606)	(100,932)
Class B Common Stock
CASH FLOW FROM FINANCING ACTIVITIES
Class A and B Common Stock purchases and cancellations		$ (19,793)	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 295,938	$ 266,785
Trade receivables	159,465	116,530
Joint interest receivables	29,742	33,952
Income tax receivable	0	24,291
Other current assets	3,443	877
Total current assets	488,588	442,435
PROPERTY, PLANT AND EQUIPMENT
Oil and natural gas properties	5,359,857	4,957,292
Other	23,056	20,618
Accumulated depreciation, depletion and amortization	(2,783,748)	(2,553,758)
Total property, plant and equipment, net	2,599,165	2,424,152
OTHER ASSETS
Other long-term assets	52,831	36,505
TOTAL ASSETS	3,140,584	2,903,092
CURRENT LIABILITIES
Accounts payable	173,062	177,568
Other current liabilities (Note 6)	135,489	110,462
Total current liabilities	308,551	288,030
LONG-TERM LIABILITIES
Long-term debt, net	393,636	393,251
Asset retirement obligations, net of current	189,293	186,038
Deferred tax liabilities	65,109	20,674
Other long-term liabilities	37,118	15,926
Total long-term liabilities	685,156	615,889
COMMITMENTS AND CONTINGENCIES (Note 8)
EQUITY
Additional paid-in capital	1,971,371	1,903,459
Treasury Stock, at cost, 50,638 shares and 47,678 shares in 2026 and 2025, respectively	(1,010,065)	(928,662)
Retained earnings	1,187,102	966,747
Accumulated other comprehensive loss	(1,555)	(1,610)
Noncontrolling interest	0	59,215
Total equity	2,146,877	1,999,173
TOTAL LIABILITIES AND EQUITY	3,140,584	2,903,092
Class A Common Stock
EQUITY
Common stock	24	23
Class B Common Stock
EQUITY
Common stock	$ 0	$ 1