Magnolia Oil & Gas Corporation (MGY) Tops Q2 EPS by 14c

Magnolia Oil & Gas Corporation (NYSE: MGY) reported Q2 EPS of $0.99, $0.14 better than the analyst estimate of $0.85. Revenue for the quarter came in at $478.81 million versus the consensus estimate of $436.27 million.

Operational Update

Total Company production volumes in the second quarter of 2026 grew by 8 percent on a year-over-year basis to 106.1 Mboe/d including 41.9 Mbbls/d. Total production in Giddings increased by 10 percent in the second quarter, compared to the prior year period with Giddings oil production growing by 7 percent year-over-year, and driven by continued strong well performance. Giddings production represented 81 percent of total Company volumes during the second quarter. Magnolia’s second quarter 2026 capital spending on drilling, completions, and associated facilities was $125.0 million.

Additional Guidance

On a standalone basis, Magnolia’s third quarter 2026 D&C capital spending is estimated to be approximately $115 million, with total estimated standalone company capital spending for the year reiterated in the range of $440 to $480 million. Total production for the standalone company in the third quarter is estimated to be similar to second quarter levels. As previously disclosed, we are raising our full year 2026 production growth guidance on a standalone company basis to 6 percent from 5 percent.

For the third quarter 2026, we expect oil price differentials to be approximately a $3 per barrel discount to Magellan East Houston.

For earnings history and earnings-related data on Magnolia Oil & Gas Corporation (MGY) click here.

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