Company: MGY
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001698990-25-000006
Chunk: 100

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 100
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 and natural gas properties(2,385)(33,793)37,987 Other investing(584)(718)(1,609)Net cash used in investing activities(655,122)(814,900)(518,887)CASH FLOW FROM FINANCING ACTIVITIESProceeds from issuance of long-term debt400,000 — — Redemption of long-term debt(404,000)— — Class A Common Stock repurchases(183,375)(205,320)(164,913)Class B Common Stock purchases and cancellations(89,670)— (187,273)Dividends paid(97,620)(88,077)(75,198)Distributions to noncontrolling interest owners(9,133)(14,065)(29,362)Cash paid for debt issuance costs(12,713)— (5,494)Other financing activities(10,289)(7,747)(7,101)Net cash used in financing activities(406,800)(315,209)(469,341)NET CHANGE IN CASH AND CASH EQUIVALENTS(141,072)(274,320)308,459 Cash and cash equivalents – Beginning of period401,121 675,441 366,982 Cash and cash equivalents – End of period$260,049 $401,121 $675,441 

The accompanying notes are an integral part of these consolidated financial statements.

51

Magnolia Oil & Gas Corporation

Notes to Consolidated Financial Statements

1. Organization and Basis of Presentation

    Organization and Nature of OperationsMagnolia Oil & Gas Corporation (either individually or together with its consolidated subsidiaries, as the context requires, the “Company” or “Magnolia”) is an independent oil and natural gas company engaged in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquid (“NGL”) reserves. The Company’s oil and natural gas properties are located primarily in the Karnes and Giddings areas in South Texas, where the Company targets the Eagle Ford Shale and Austin Chalk formations. Magnolia’s objective is to generate stock market value over the long-term through steady organic production growth, high full cycle operating margins, an efficient capital program with short economic paybacks, significant free cash flow after capital expenditures, and effective reinvestment of free cash flow.Basis of Presentation and Principles of ConsolidationThe accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the