Company: MGY
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001698990-25-000006
Chunk: 95

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 95
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 except per share data)

Years EndedDecember 31, 2024December 31, 2023December 31, 2022REVENUESOil revenues$1,046,675 $958,388 $1,158,006 Natural gas revenues90,277 102,054 301,494 Natural gas liquids revenues178,934 166,537 234,993 Total revenues1,315,886 1,226,979 1,694,493 OPERATING EXPENSESLease operating expenses180,881 155,491 131,513 Gathering, transportation, and processing39,832 44,327 64,754 Taxes other than income71,862 65,565 94,031 Exploration expenses1,374 5,445 11,586 Asset retirement obligations accretion6,729 4,039 3,245 Depreciation, depletion and amortization414,487 324,790 243,152 Impairment of oil and natural gas properties— 15,735 — General and administrative expenses88,733 77,102 72,426 Total operating expenses803,898 692,494 620,707 OPERATING INCOME511,988 534,485 1,073,786 OTHER INCOME (EXPENSE)Interest expense, net(14,371)(33)(23,442)Loss on extinguishment of debt(8,796)— — Other income, net4,322 15,360 6,543 Total other income (expense), net(18,845)15,327 (16,899)INCOME BEFORE INCOME TAXES493,143 549,812 1,056,887 Income tax expense95,813 107,208 6,638 NET INCOME397,330 442,604 1,050,249 LESS: Net income attributable to noncontrolling interest31,303 54,303 156,412 NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK$366,027 $388,301 $893,837 NET INCOME PER SHARE OF CLASS A COMMON STOCKBasic$1.94 $2.04 $4.73 Diluted$1.94 $2.04 $4.71 WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDINGBasic186,