MGY / Magnolia Oil & Gas (MGY) to Acquire Giddings Assets for $300M

Magnolia Oil & Gas Corporation (NYSE:MGY ) Q3 2023 Earnings Call Transcript November 2, 2023 11:00 AM ET Company Participants Jim Johnson - VP, Financ more_horizontal

While the top- and bottom-line numbers for Magnolia Oil & Gas Corp (MGY) give a sense of how the business performed in the quarter ended September 202 more_horizontal

Magnolia Oil & Gas Corp (MGY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for more_horizontal

Magnolia Oil & Gas (MGY) plans to expand its presence in Giddings with the acquisition of 48k net acres and 5k Boe/d production in the area. more_horizontal

Magnolia Oil & Gas Corporation acquired 48,000 net acres in the Giddings area, expanding their holdings. The acquisition is estimated to have a net co more_horizontal

Magnolia has made positive revisions to its 2023 guidance, with stronger production growth expectations and reduced capex expectations. It may generat more_horizontal

Magnolia (MGY) plans to increase its guidance for full-year production growth to 7-8%. It also expects 2023 capital spending to be lower than the prev more_horizontal

The Eagle Ford strategy looks solid for Magnolia Oil & Gas Corporation despite issues. The Eagle Ford location often has profitability comparable to t more_horizontal