Magnolia Oil & Gas Corporation · NYSE:MGY
Magnolia Oil & Gas — Q2 2025 Earnings Presentation
22 slides from Magnolia Oil & Gas's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Earnings Presentation
Second Quarter 2025 Earnings Presentation July 30, 2025 Christopher Stavros – Chairman, President & CEO Brian Corales – Senior Vice President & CFO Tom Fitter – Director, Investor Relations
Slide 2: Disclaimer
Second Quarter 2025 Earnings Presentation Disclaimer FORWARD LOOKING STATEMENTS The information in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A
Slide 3: Second Quarter 2025 Highlights & Announcements
Second Quarter 2025 Earnings Presentation Second Quarter 2025 Highlights & Announcements Financial Operations Corporate Total adjusted net income of $81 MM and Q2 2025 total production of 98.2 Mboe/d Increasing our full-year 2025 production operating income margin of 34% (company record) exceeding e
Slide 4: Giddings Bolt-On Acquisitions
Second Quarter 2025 Earnings Presentation Giddings Bolt-On Acquisitions Oil & Gas Property Acquisition Highlights • Acquired >18,000 net acres in Giddings (>46,000 gross) in multiple transactions from small private operators for ~$40 million (1) – Includes ~500 BOEPD (~35% oil, ~68% liquids) of low
Slide 5: Magnolia's Consistent Business Model
Second Quarter 2025 Earnings Presentation Magnolia’s Consistent Business Model High Quality Assets Drive Low Capital Reinvestment Deliver Mid-Single Digit Long-Term Production Rate that Grows the Business Growth with Significant Free Cash Flow Limit Capital Spending to 55% of 2025 BOE Growth of ~10%
Slide 6: Second Quarter 2025 Key Financial Metrics
Second Quarter 2025 Earnings Presentation Second Quarter 2025 Key Financial Metrics Metric Q2 2025 YoY % Change Total Production (Mboe/d) 98.2 9% Oil Production (Mbbls/d) 40.0 5% Revenue ($ MM) $319 (5%) Adjusted EBITDAX ($ MM) $223 (9%) Adjusted Net Income ($ MM) $81 (22%) D&C Capex ($ MM) $95 (23%
Slide 7: Second Quarter 2025 Cash Flow Reconciliation
Second Quarter 2025 Earnings Presentation Second Quarter 2025 Cash Flow Reconciliation 500 16 16 29 400 49 214 300 100 $ In Millions 200 248 252 100 0 (3) (1) (2) (4) Cash Cash Flow Changes in Acquisitions Dividends and Share DC&F Capital Cash 3/31/2025 from Working Capital Distributions Repurchases
Slide 8: History of Significant & Consistent Share Repurchases
Second Quarter 2025 Earnings Presentation History of Significant & Consistent Share Repurchases Magnolia’s Consistent Share Repurchases (1) 80 (million shares repurchased) 4.4 70 11.0 60 9.6 50 15.5 40 (77.2) 30 25.3 Magnolia has reduced its diluted share 20 count by approximately 25% 10 4.5 7.0 0 2
Slide 9: Track Record of a Safe, Sustainable and Growing Dividend
Second Quarter 2025 Earnings Presentation Track Record of a Safe, Sustainable and Growing Dividend Dividend Payout Per Share CAGR Has Exceeded 16% • Magnolia’s dividend has grown at a double-digit rate $0.60 over the past 4 years $0.52 • Sustainable dividend growth supported even at lower product pr
Slide 10: Summary Balance Sheet
Second Quarter 2025 Earnings Presentation Summary Balance Sheet (in thousands) June 30, 2025 December 31, 2024 Cash and cash equivalents $251,761 $260,049 Other current assets 164,976 150,775 Property, plant and equipment, net 2,355,555 2,306,034 Other assets 88,356 103,977 Total assets $2,860,648 $
Slide 11: Margins and Cost Structure
Second Quarter 2025 Earnings Presentation Margins and Cost Structure For the Quarters Ended $ / Boe, unless otherwise noted June 30, 2025 June 30, 2024 Revenue $35.68 $41.02 Total Cash Operating Costs: Lease Operating Expenses (1) (4.78) (5.33) Gathering, Transportation & Processing (1.84) (1.03) Ta
Slide 12: FY2025 & Third Quarter 2025 Operating Plan & Guidance
Second Quarter 2025 Earnings Presentation FY2025 & Third Quarter 2025 Operating Plan & Guidance 2025E Production & Capital 2025E Capital Third Quarter 2025 Guidance Production Growth Production ~20-25% Karnes ~99 Mboe/d YoY 2025 Total Growth Raised to ~10% from range of 7% - 9% ~75-80% D&C Capital S
Slide 13: Summary Investment Highlights
Second Quarter 2025 Earnings Presentation Summary Investment Highlights High Quality Assets Positioned for Success • Leading position in the Giddings area with low capital reinvestment rate, low breakevens and substantial running room Giddings • Coveted position in the Karnes area in the core of the
Slide 14: Appendix
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Slide 15: Consistent & Sizable Cash Return to Shareholders
Second Quarter 2025 Earnings Presentation Consistent & Sizable Cash Return to Shareholders >$1.7 Billion Returned to Shareholders Cumulative Return of Capital ($MM) $1,751 $1,591 • Magnolia has a strong track record of returning capital to shareholders $1,213 • Returned ~40% of current market cap ov
Slide 16: Magnolia's Commitment to Sustainability
Second Quarter 2025 Earnings Presentation Magnolia’s Commitment to Sustainability Safeguarding Supporting Employees Governing with the Environment and Communities Integrity 21-percent reduction in gross $304 million in royalty, lease, and 50-percent refreshment rate Scope 1 greenhouse gas surface pa
Slide 17: Free Cash Flow Reconciliations
Second Quarter 2025 Earnings Presentation Free Cash Flow Reconciliations For the Quarters Ended (in thousands) June 30, 2025 June 30, 2024 Net cash provided by operating activities $198,701 $269,398 Add back: net change in operating assets and liabilities 15,500 (36,665) Cash flows from operations b
Slide 18: Adjusted EBITDAX Reconciliations
Second Quarter 2025 Earnings Presentation Adjusted EBITDAX Reconciliations For the Quarters Ended (in thousands) June 30, 2025 June 30, 2024 Net income $81,028 $105,113 Interest expense, net 5,604 3,516 Income tax expense 20,938 26,769 EBIT $107,570 $135,398 Depreciation, depletion and amortization
Slide 19: Adjusted Net Income Reconciliation
Second Quarter 2025 Earnings Presentation Adjusted Net Income Reconciliation For the Quarters Ended (in thousands) June 30, 2025 June 30, 2024 Net income $81,028 $105,113 Adjustments: Other income adjustment(1) (130) (1,005) Change in estimated income tax(2) 26 205 Adjusted Net Income $80,924 $104,3
Slide 20: Capital Structure & Liquidity Overview
Second Quarter 2025 Earnings Presentation Capital Structure & Liquidity Overview Capital Structure Overview Capitalization & Liquidity ($MM) Capitalization Summary As of 6/30/2025 Maintaining low financial leverage profile ‒ Currently have a net debt(1) position of $148 MM Cash and Cash Equivalent
Slide 21: Return on Capital Employed
Second Quarter 2025 Earnings Presentation Return on Capital Employed For the Quarters Ended (in thousands) June 30, 2025 June 30, 2024 Operating income $107,814 $134,351 Operating income (A) $107,814 $134,351 Debt - beginning of period 392,700 393,480 Stockholders' equity - beginning of period 1,989
Slide 22: Oil & Gas Production Results
Second Quarter 2025 Earnings Presentation Oil & Gas Production Results Combined Karnes Giddings Combined Karnes Giddings For the Quarter Ended June 30, 2025 For the Quarter Ended June 30, 2024 Production: Oil (MBbls) 3,639 1,175 2,464 3,453 1,092 2,361 Natural gas (MMcf) 16,820 2,235 14,585 14,982 2