Magnolia Oil & Gas Corporation Announces Third Quarter 2026 Results

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“Magnolia continues to execute at a high level as we successfully integrate the WildFire assets”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“Although our third quarter results include only a partial period of ownership following the September closing, the benefits of the combined asset base are already clearly evident.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“Our business generated $224 million of adjusted free cash flow during the quarter, with a reinvestment rate of just 38 percent of adjusted EBITDAX.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“That strong momentum has carried into the fourth quarter – our first full quarter as a combined company.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“The integration continues to progress smoothly, and we are meeting all our planned milestones.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“Synergy capture remains ahead of our expectations, with more than one-third of the anticipated annual synergies on track to be realized by year-end.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“We are currently running four rigs and two completion crews, and have recently substituted some equipment in an effort to capture further operational and capital efficiencies.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“Recent Austin Chalk well results on WildFire operated acreage are encouraging and are supportive of our geological model that led to Magnolia’s strong Austin Chalk development plan over the last several years.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“These early results also suggest greater inventory potential than our earlier baseline acquisition analysis.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“We plan to continue to delineate the Austin Chalk across our now 1.25 million net acre position in Giddings and our 2027 company-wide drilling program is expected to allocate approximately 65 percent of targeted activity to the Austin Chalk and 35 percent to the Eagle Ford.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“Supported by these strong operational and financial results, Magnolia returned approximately $103 million to shareholders during the quarter through our dividend and share repurchase program, while reducing net debt to approximately $1.9 billion.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“We achieved our goal of less than 1.0x net debt to forecasted EBITDAX more than a year sooner than originally planned when we announced the WildFire acquisition.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“The significant free cash flow generation allows us to continue aggressively reducing leverage, while consistently paying and growing our dividend, and maintaining our peer-leading program of repurchasing at least 1 percent of shares outstanding each quarter.”

Chris Stavros, Chairman, President and CEO of Magnolia Oil & Gas Corporation

“Magnolia’s Board has increased our share repurchase authorization by an incremental 15 million shares, bringing the remaining authorization to 22.6 million shares – or nearly 8.5 percent of current shares outstanding – providing us the flexibility to lean into additional repurchases above the 1 percent level opportunistically and when warranted.”