Company: MGY
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001698990-25-000006
Chunk: 82

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 82
---
 its current cash balance, cash flows from operations, and its available sources of liquidity to be sufficient to meet the Company’s cash requirements. In the event of a sustained market deterioration, Magnolia may need additional liquidity, which would require the Company to evaluate available alternatives and take appropriate actions.

As of December 31, 2024, the Company had $400.0 million of principal debt related to the 2032 Senior Notes outstanding and no outstanding borrowings related to the RBL Facility. As of December 31, 2024, the Company has $710.0 million of liquidity comprised of the $450.0 million of borrowing capacity under the RBL Facility, and $260.0 million of cash and cash equivalents.

39

Cash and Cash Equivalents

At December 31, 2024, Magnolia had $260.0 million of cash and cash equivalents. The Company’s cash and cash equivalents are maintained with various financial institutions in the United States. Deposits with these institutions may exceed the amount of insurance provided on such deposits. However, the Company regularly monitors the financial stability of its financial institutions and believes that the Company is not exposed to any significant default risk.

Sources and Uses of Cash and Cash Equivalents

The following table presents the sources and uses of the Company’s cash and cash equivalents for the periods presented:

Years Ended(In thousands)December 31, 2024December 31, 2023SOURCES OF CASH AND CASH EQUIVALENTSNet cash provided by operating activities$920,850 $855,789 Proceeds from issuance of long-term debt400,000 — Net sources of cash and cash equivalents1,320,850 855,789 USES OF CASH AND CASH EQUIVALENTSRedemption of long-term debt$(404,000)$— Acquisitions(165,424)(355,499)Additions to oil and natural gas properties(486,729)(424,890)Changes in working capital associated with additions to oil and natural gas properties(2,385)(33,793)Class A Common Stock repurchases(183,375)(205,320)Class B Common Stock purchases and cancellations(89,670)— Dividends paid(97,620)(88,077)Distributions to noncontrolling interest owners(9,133)(14,065)Cash paid for debt issuance costs(12,713)— Other(10,873)(8,465)Net uses of