Company: MGY
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001698990-25-000013
Chunk: 28

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 28
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 31, 2024. A 103% increase in average price increased first quarter 2025 revenues by $21.7 million compared to the same period in the prior year, and a 20% increase in natural gas production increased revenues by $8.6 million.

18

NGL revenues for the three months ended March 31, 2025 were $14.3 million higher than the three months ended March 31, 2024. A 13% increase in average price increased first quarter 2025 revenues by $5.1 million compared to the same period in the prior year, and a 21% increase in NGL production increased revenues by $9.2 million.

Operating Expenses and Other Expense

The following table summarizes the Company’s operating expenses and other expense for the periods indicated. 

Three Months Ended(In thousands, except per unit data)March 31, 2025March 31, 2024Operating Expenses:Lease operating expenses$47,075 $46,150 Gathering, transportation and processing14,953 8,537 Taxes other than income20,105 17,898 Exploration expenses348 25 Asset retirement obligations accretion1,556 1,618 Depreciation, depletion and amortization105,853 97,076 General and administrative expenses24,588 23,555 Total operating expenses$214,478 $194,859 Other Expense:Interest expense, net$(5,252)$(2,312)Other income (expense), net1,215 (4,313)Total other expense, net$(4,037)$(6,625)Average Operating Costs per boe:Lease operating expenses$5.42 $5.98 Gathering, transportation and processing1.72 1.11 Taxes other than income2.31 2.32 Exploration expenses0.04 — Asset retirement obligations accretion0.18 0.21 Depreciation, depletion and amortization12.18 12.58 General and administrative expenses2.83 3.05 

Lease operating expenses are costs incurred in the operation of producing properties, including expenses for utilities, direct labor, water disposal, workover rigs, workover expenses, materials, and supplies. Lease operating expenses for the three months ended March 31, 2025 were $0.9 million higher,