Magnolia Oil & Gas reported second-quarter net income of $181.8 million, up 124% from $81 million a year earlier, with diluted EPS rising to $0.97 from $0.41, driven by stronger oil and NGL prices and steady production growth. Adjusted EBITDAX reached $370.3 million, while free cash flow more than doubled to $234.6 million, and the company returned $80.1 million to shareholders through buybacks and a 9% higher dividend. Production rose 8% to 106.1 Mboe/d, and the company raised its full-year 2026 production growth guidance to 6%. Magnolia is funding its acquisition of WildFire Energy, which will more than double its Giddings acreage to over 1.25 million net acres, with roughly half debt and half equity, issuing 53.3 million new shares for about $1.23 billion and adding $500 million in senior notes at 6.625% due 2034. The company expects third-quarter production to be flat and faces pricing headwinds, with oil selling at a $3 per-barrel discount to the Magellan East Houston benchmark.
Magnolia Oil & Gas CorpDoubled profits and raised guidance, funded acquisition with debt and equity
Acquired by Magnolia, providing liquidity and growth capital
