Magnolia Oil & Gas Second Quarter 2023 Earnings Presentation August 2, 2023 Christopher Stavros President & CEO Brian Corales Senior Vice President & CFO Jim Johnson Vice President, Finance, IR & Treasurer
Second Quarter 2023 Key Financial Metrics 2Q23 total production grew 10% year over year to 81.9 Mboe/d, with D&C capital of 86 million (42% of adjusted EBITDAX(1)) Cost reduction initiative delivering strong results, reducing capital…
Share Repurchase Summary Through 2Q 2023 Since the initial repurchase authorization in 3Q19, Magnolia has reduced its dilutive share count by 30.0(1) million shares of Class A common stock as well as 26.9 million shares of Class B…
Magnolia Oil & Gas Differentiated Dividend Framework Dividend Principles 15% Increase Secure & Sustainable Dividend is safe, and supported by our strong balance sheet, prudent spending and 43% Increase consistent free cash flow…
Magnolia Oil & Gas Summary Balance Sheets (in thousands) June 30, 2023 December 31, 2022 Cash 676,568 675,441 Current assets 138,272 175,306 Property, plant and equipment, net 1,599,504 1,533,029 Other assets 152,377 188,809…
2Q 2023 Capital Structure and Liquidity Overview Capital Structure Overview Capitalization & Liquidity (MM) Maintaining low financial leverage profile Capitalization Summary As of 6/30/2023 Currently have a net cash position of 277…
Magnolia Oil & Gas Margin and Cost Structure For the Quarter Ended For the Quarter Ended / Boe, unless otherwise noted June 30, 2023 June 30, 2022 Revenue 37.62 71.78 100% of the decrease in 34.16/Boe Total Cash Operating Costs:…
Commitment to Sustainability 2023 Sustainability Report Highlights Include: Magnolia record for lowest annual flaring rate1 at 0.11%, a reduction of almost 90% since 2019 Addition of scope 2 emissions reporting; providing further…
Appendix
Magnolia Oil & Gas Overview High-quality, low-risk pure-play South Texas operator with a core 483,000 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 Reconciliations For the Quarter Ended For the Quarter Ended (in thousands) June 30, 2023 June 30, 2022 Net cash provided by operating activities 201,775 379,135 Add back: Changes in operating assets and…
Adjusted EBITDAX Reconciliations For the Quarter Ended For the Quarter Ended (in thousands) June 30, 2023 June 30, 2022 Net income 104,596 299,905 Exploration expenses - 3,408 Asset retirement obligations accretion 823 802…
Adjusted Net Income Reconciliation For the Quarter Ended For the Quarter Ended (in thousands) June 30, 2023 June 30, 2022 Net income 104,596 299,905 Adjustments: Other income adjustment (1) (9,193) (6,333) Change in…
Magnolia Oil & Gas Operating Highlights For the Quarter Ended For the Quarter Ended June 30, 2023 June 30, 2022 Production: Oil (MBbls) 3,100 3,019 Natural gas (MMcf) 13,784 12,464 Natural gas liquids (MBbls) 2,054 1,656 Total…
Magnolia Oil & Gas Production Results Combined Karnes Giddings & Other Combined Karnes Giddings & Other For the Quarter Ended June 30, 2023 For the Quarter Ended June 30, 2022 Production: Oil (MBbls) 3,100 1,260 1,840 3,019 1,656…
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