Magnolia Oil & Gas Corp

Listed Company

MGYCIK 0001698990NYSELarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.31B

Net Income

$325.25M

Total Assets

$2.90B

Equity

$2.00B

Shares Out

—

Op. Cash Flow

$878.64M

Business

Magnolia Oil & Gas Corp is an independent oil and natural gas company engaged in the acquisition, development, exploration, and production of hydrocarbons. The Company produces crude oil, natural gas, and natural gas liquids (NGLs) and provides related midstream and production facility operations such as gathering, processing, and storage. Magnolia reports a single operating segment centered on its controlling interest in Magnolia LLC through which it operates and consolidates its upstream activities. Its properties and operations are concentrated in the Karnes and Giddings areas of South Texas, selling production to third‑party processors and purchasers via pipelines and truck transportation.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,312	1,316	1,227	1,694	1,078
Lease operating expenses	187	181	155	132	93
Gathering, transportation, and processing	67	40	44	65	—
Taxes other than income	76	72	66	94	56
Exploration expenses	962,000	1	5	12	4
Asset retirement obligations accretion	7	7	4	3	5
Depreciation, depletion and amortization	438	414	325	243	188
Impairment of oil and natural gas properties	0	0	16	0	0
General and administrative expenses	97	89	77	72	75
Total operating expenses	873	804	692	621	476
OPERATING INCOME	439	512	534	1,074	603
Interest expense, net	−22	−14	−33,000	−23	—
Loss on extinguishment of debt	0	−9	0	0	—
Other income (expense), net	−153,000	4	15	7	85,000
Total other income (expense), net	−22	−19	15	−17	−34
INCOME BEFORE INCOME TAXES	417	493	550	1,057	569
Income tax expense	80	96	107	7	9
NET INCOME	337	397	443	1,050	560
LESS: Net income attributable to noncontrolling interest	12	31	54	156	142
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK	325	366	388	894	417
Basic (in shares)	186	186	188	187	174
Diluted (in shares)	186	186	188	188	175
Postretirement benefits	−2	0	0	—	—
COMPREHENSIVE INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK	324	366	388	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	267	260	401	675	367
Trade receivables	117	124	190	171	150
Joint interest receivables	34	23	—	—	—
Income tax receivable	24	1	—	—	—
Other current assets	877,000	3	435,000	1	552,000
Total current assets	442	411	591	851	518
Oil and natural gas properties	4,957	4,403	3,744	2,940	2,382
Other	21	19	10	9	7
Accumulated depreciation, depletion and amortization	−2,554	−2,116	−1,701	−1,416	−1,173
Total property, plant and equipment, net	2,424	2,306	2,052	1,533	1,216
Deferred financing costs, net	6	7	4	6	4
Deferred tax assets	3	78	90	163	0
Other long-term assets	28	19	19	20	9
Total other assets	37	104	113	189	13
TOTAL ASSETS	2,903	2,821	2,756	2,573	1,747
Accounts payable	178	181	193	203	128
Other current liabilities (Note 5)	110	109	122	137	91
Total current liabilities	288	290	315	340	219
Long-term debt, net	393	393	—	—	—
Asset retirement obligations, net of current	186	161	148	95	90
Other long-term liabilities	37	9	17	7	5
Total long-term liabilities	616	563	559	492	483
COMMITMENTS AND CONTINGENCIES (Note 9)	—	—	—	—	—
Additional paid-in capital	1,903	1,880	1,744	1,720	1,690
Treasury Stock, at cost, 47,678 shares and 38,808 shares in 2025 and 2024, respectively	−929	−721	−538	−330	−165
Retained earnings	967	755	486	186	−708
Accumulated other comprehensive loss	−2	0	—	—	—
Noncontrolling interest	59	54	191	164	228
Total equity	1,999	1,967	1,883	1,740	1,045
TOTAL LIABILITIES AND EQUITY	2,903	2,821	2,756	2,573	1,747

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of deferred financing costs	2	4	4	6	4
Gain on sale of assets	0	0	−4	0	0
Deferred income tax expense	97	70	75	−66	0
Gain on revaluation of contingent consideration	−5	−4	−8	0	0
Stock based compensation	27	19	16	13	12
Other	3	3	274,000	554,000	−84,000
Accounts receivable	−4	33	−14	−21	−68
Accounts payable	−5	−18	−9	75	65
Accrued liabilities	11	−10	3	9	8
Other assets and liabilities, net	−29	−3	4	−14	2
Net cash provided by operating activities	879	921	856	1,297	788
Acquisitions	−67	−165	−355	−90	0
Additions to oil and natural gas properties	−469	−487	−425	−465	−236
Changes in working capital associated with additions to oil and natural gas properties	−10	−2	−34	38	14
Other investing	6	−584,000	−718,000	−2	−2
Net cash used in investing activities	−541	−655	−815	−519	−243
Proceeds from issuance of long-term debt	0	400	0	0	—
Redemption of long-term debt	0	−404	0	0	—
Dividends paid	−113	−98	−88	−75	−14
Distributions to noncontrolling interest owners	−4	−9	−14	−29	−7
Cash paid for debt issuance costs	0	−13	0	−5	−5
Other financing activities	−9	−10	−8	−7	−5
Net cash used in financing activities	−331	−407	−315	−469	−371
NET CHANGE IN CASH AND CASH EQUIVALENTS	7	−141	−274	308	174

Filings

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