Fourth Quarter 2020 Earnings Presentation February 23, 2021 Stephen Chazen Chairman, President & CEO Christopher Stavros Executive Vice President & CFO Brian Corales Vice President, Investor Relations
Magnolia Oil & Gas 4Q and Full Year 2020 Highlights Will commence paying a semi-annual dividend in 2021. Generated adjusted EBITDAX of 98.1 million versus our D&C Capital of 39.6 million, or just 40% of adjusted EBITDAX, during the…
Cash Flow Allocation Matches Magnolias Business Model (Percentage of Operating Cash Flow (1) Since Inception - 7/31/18 thru 12/31/20) Cash Build Share 6% Repurchases 8% Acquisitions 26% Drilling & Completions 60% (1)…
Giddings Field Appraisal to Development MGY has identified some contiguous acreage blocks which have produced consistent results to date One of these areas comprises 70,000 acres which we have 20 wells with 90+ days of production…
Magnolia Oil & Gas 4Q 2020 Key Metrics Adj. Net Income (1) & Adj. EPS (1) Total Production Giddings Production 39.3 million 60.6 Mboe/d 28.3 Mboe/d 0.15/share (12% sequential growth) (39% sequential growth) (70% sequential oil…
4Q 2020 Cash Flow Summary ( In Millions) 16 27 16 41 90 193 149 Cash CFFO(1) Ironwood Sale Changes Common Stock DC&F Cash 9/30/20 in WC (2) Repurchases Capital 12/31/20 (1) Cash flow from operations before…
Magnolia Oil & Gas Summary Balance Sheet (in thousands) December 31, 2020 December 31, 2019 Cash 192,561 182,633 Current assets 88,965 110,585 Property, plant and equipment, net 1,149,527 3,116,757 Other assets 22,367…
4Q20 Capital Structure and Liquidity Overview Capital Structure Overview Capitalization & Liquidity (MM) Maintaining low financial leverage profile Capitalization Summary As of 12/31/2020 Net Debt / Total Book Capitalization of 17%…
Magnolia Oil & Gas Margin and Cost Structure For the Quarter Ended For the Quarter Ended / Boe December 31, 2020 December 31, 2019 Revenue 26.76 36.54 Total Cash Costs: Lease Operating Expenses (1) (3.20) (3.66) Gathering,…
Proved Developed Reserves Detail For the Year Ended (In thousands) December 31, 2020 Costs incurred: Proved property acquisition costs 49,246 Unproved properties acquisitions costs 25,966 Total acquisition costs 75,212…
Appendix
Magnolia Oil & Gas Overview High-quality, low-risk pure-play South Texas operator with a core 460,000 Net Acre Position Targeting Two of the Top Eagle Ford and Austin Chalk position acquired at an attractive entry Oil Plays in the…
Free Cash Flow Reconciliation (in thousands) For the Quarter Ended For the Quarter Ended Free Cash Flow Reconciliation December 31, 2020 December 31, 2019 Net cash provided by operating activities 79,122 159,007 Add back: net…
Reconciliation of Net Income to Adjusted EBITDAX (in thousands) For the Quarter Ended For the Quarter Ended Adjusted EBITDAX reconciliation to net income: December 31, 2020 December 31, 2019 Net income 42,012 13,631 Exploration…
Adjusted Net Income Reconciliation (in thousands) For the Quarter Ended For the Quarter Ended Adjusted Net Income December 31, 2020 December 31, 2019 Net income 42,012 13,631 Income tax expense - 2,311 Income Before Income Taxes…
Adjusted Earnings Reconciliation (in thousands) For the Quarter Ended Per Share For the Quarter Ended Per Share December 31, 2020 Diluted EPS December 31, 2019 Diluted EPS Net income attributable to Class A Common Stock 27,745…
Magnolia Oil & Gas Operating Highlights For the Quarter Ended For the Quarter Ended December 31, 2020 December 31, 2019 Production: Oil (MBbls) 2,646 3,251 Natural gas (MMcf) 10,168 10,689 Natural gas liquids (MBbls) 1,237 1,254…
Magnolia Oil & Gas Production Results Giddings & Giddings & Combined Karnes Combined Karnes Other Other Three Months Ended December 31, 2020 Three Months Ended December 31, 2019 Production: Oil (MBbls) 2,646 1,862 784 3,251 2,740…
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