Magnolia Oil & Gas Corp

Magnolia Oil & Gas Corp is an independent U.S. oil and natural gas producer focused on acquiring, developing, exploring, and producing crude oil, natural gas, and NGL reserves. Its core asset base is concentrated in South Texas, where it targets the Eagle Ford Shale and Austin Chalk formations and runs a capital-light, free-cash-flow-oriented operating model.

66,8 %

24,8 %

−0,3 %

1.54

1.54

— Magnolia Oil & Gas Corp
%
Oil production55% Production and sale of crude oil from Magnolia's South Texas asset base.
Natural gas production25% Sales of produced natural gas from operated wells and acreage positions.
NGL production10% Sales of natural gas liquids recovered alongside oil and gas production.
Development and drilling services10% Capital deployment into drilling, completions, and well development on owned acreage.

Magnolia sells production into commodity markets through a relatively small number of purchasers, which is typical for...

  • Commodity purchasersprimary

    Buy Magnolia's oil, natural gas, and NGL production for resale, processing, or downstream use.

  • Refiners and marketersprimary

    Purchase crude oil volumes from Magnolia's producing properties and move them into downstream supply chains.

  • Midstream and processing counterpartiessecondary

    Handle gathering, transportation, and processing of produced volumes and support market access.

Magnolia's operations are concentrated in the United States, with essentially all activity tied to one reportable...

  • •All operations are in the United States
  • •Core asset base is concentrated in South Texas
  • •Karnes and Giddings are the main operating areas
  • •Eagle Ford Shale and Austin Chalk are the key formations
  • •Regional weather and infrastructure disruptions can curtail output

Magnolia's strategy is to grow production organically while preserving high full-cycle margins and strong free cash...

01
Disciplined organic production growthmedium-term

Supports predictable volume growth without relying on large acquisitions or aggressive leverage.

02
Free cash flow generationshort-term

Free cash flow funds shareholder returns and reduces dependence on external capital.

03
Shareholder returnsshort-term

Dividends and buybacks are part of the capital allocation framework and support total return.

Magnolia is exposed to commodity price volatility, customer concentration, and operational concentration in South Texas...

high

Commodity price volatility

Revenue, margins, and cash flow move with oil, gas, and NGL prices that Magnolia cannot control.

Scope
Oil, natural gas, and NGL sales
Materiality
high
high

Customer concentration

A small number of purchasers buy most production, so losing a major buyer could quickly reduce sales.

Scope
Two purchasers represented 61% of revenue attributable to assets in 2025
Materiality
high
high

Regional weather and infrastructure disruption

Concentrated South Texas assets are vulnerable to hurricanes, winter storms, and transport outages.

Scope
Karnes and Giddings areas in Texas
Materiality
high
medium

Operational and service-cost inflation

Shortages or high costs for rigs, equipment, personnel, and oilfield services can delay development.

Scope
Drilling and completion program
Materiality
medium
medium

Cybersecurity and systems disruption

The company relies on information systems and third-party infrastructure to operate wells and manage data.

Scope
IT systems, field operations, and third-party providers
Materiality
medium
Reserve estimates
Higher or lower reserve estimates change DD&A and asset carrying values
Income taxes and deferred tax assets
Adjustments can change tax expense and balance sheet deferred tax balances
Noncontrolling interests
Affects net income attributable to Class A common stock

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: 28/04/2026