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

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 25
---
 sets forth information relating to the productive wells in which Magnolia owned a working interest as of December 31, 2024.

OilNatural GasTotalGross2,053 621 2,674 Net1,285 533 1,818 

Production, Pricing, and Lease Operating Cost Data

The following table describes, for each of the last three fiscal years, oil, natural gas, and NGL production volumes, average lease operating costs per boe (including gathering, transportation, and processing costs, but excluding severance and other taxes), and average sales prices related to Magnolia’s operations:

Years EndedDecember 31, 2024December 31, 2023December 31, 2022ProductionCrude oil (MMBbls)14.0 12.6 12.2 Natural gas (Bcf)58.7 55.1 50.7 Natural gas liquids (MMBbls)9.0 8.3 6.9 Average lease operating costs per boe$6.72 $6.64 $7.13 Average sales priceCrude oil (per barrel)$74.66 $76.02 $95.01 Natural gas (per Mcf)1.54 1.85 5.95 Natural gas liquids (per barrel)19.83 20.15 34.18 

9

Gross and Net Undeveloped and Developed Acreage

The following table sets forth certain information regarding the total developed and undeveloped acreage in which Magnolia held an interest as of December 31, 2024:

AcreageUndevelopedDevelopedTotalGross109,764 708,143 817,907 Net92,961 511,096 604,057 

Undeveloped Acreage Expirations

As of December 31, 2024, Magnolia’s total undeveloped acres across its assets that will expire from 2025 through 2029 were 33,122 gross (30,657 net), unless production is established within the spacing units covering the acreage prior to the expiration dates, drilling commitments are fulfilled, or unless such leasehold rights are extended or renewed. Magnolia anticipates that its current and future drilling plans along with the lease extensions should address most of the Company’s leases subject to potential expiration in 2025 and beyond. There are no expirations