Company: MGY
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001698990-25-000013
Chunk: 27

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 27
---
Oil, Natural Gas and NGL Sales Revenues

The following table provides the components of Magnolia’s revenues for the periods indicated, as well as each period’s respective average prices and production volumes. This table shows production on a boe basis in which natural gas is converted to an equivalent barrel of oil based on a ratio of six Mcf to one barrel. This ratio may not be reflective of the current price ratio between the two products.

Three Months Ended(In thousands, except per unit data)March 31, 2025March 31, 2024Production:Oil (MBbls)3,517 3,415 Natural gas (MMcf)16,492 13,749 NGLs (MBbls)2,424 2,009 Total (Mboe)8,689 7,715 Average daily production:Oil (Bbls/d)39,078 37,531 Natural gas (Mcf/d)183,248 151,086 NGLs (Bbls/d)26,930 22,072 Total (boe/d)96,549 84,784 Production (% of total):Oil40 %44 %Natural gas32 %30 %NGLs28 %26 %Revenues:Oil revenues$245,534 $259,182 Natural gas revenues51,367 21,095 Natural gas liquids revenues53,399 39,140 Total revenues$350,300 $319,417 Revenues (% of total):Oil70 %81 %Natural gas15 %7 %NGLs15 %12 %Average Price:Oil (per barrel)$69.81 $75.89 Natural gas (per Mcf)3.11 1.53 NGLs (per barrel)22.03 19.49 

Oil revenues for the three months ended March 31, 2025 were $13.6 million lower than for the three months ended March 31, 2024. An 8% decrease in average price decreased first quarter 2025 revenues by $20.7 million compared to the same period in the prior year, while a 3% increase in oil production increased revenues by $7.1 million.

Natural gas revenues for the three months ended March 31, 2025 were $30.3 million higher than the three months ended March