Magnolia Oil & Gas Doubles Profit, Raises 2026 Growth Guidance
Magnolia Oil & Gas reported adjusted EBITDAX of $370.3 million and more than doubled free cash flow to $234.6 million as output rose 8% to 106.1 Mboe/d and oil volumes grew 5% to 41.9 Mbbls/d. The company repurchased $49.3 million of stock, raised its quarterly dividend 9% to $0.18, and returned $80.1 million. It also agreed to acquire WildFire Energy, funding about half with debt, half with equity.