Company: MGY
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001698990-25-000006
Chunk: 129

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 129
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December 31, 2024December 31, 2023December 31, 2022Supplemental cash items:Cash paid for income taxes$23,102 $38,834 $72,230 Cash paid for interest33,967 26,350 26,648 Supplemental non-cash investing and financing activity:Accrued capital expenditures31,745 34,131 67,923 Contingent consideration associated with acquisitions— 21,913 — Net liabilities assumed in connection with acquisitions8,421 — — Supplemental non-cash lease operating activity:Right-of-use assets obtained in exchange for operating lease obligations13,336 15,053 4,578 

17. Subsequent Events

On February 3, 2025, the Company’s board of directors declared a quarterly cash dividend of $0.15 per share of Class A Common Stock, and Magnolia LLC declared a cash distribution of $0.15 per Magnolia LLC Unit to each holder of Magnolia LLC Units, each payable on March 3, 2025 to shareholders or members of record, as applicable, as of February 14, 2025.On February 12, 2025, the Company’s board of directors increased the share repurchase authorization by an additional 10.0 million shares of Class A Common Stock, which increased the total share repurchase authorization to 50.0 million shares.

69

Supplemental Information About Oil & Natural Gas Producing Activities (Unaudited)

The Company operates in one reportable segment engaged in the acquisition, development, exploration, and production of oil and natural gas properties located in the United States.

Capitalized Costs

The aggregate amounts of costs capitalized for oil and natural gas exploration and development activities and the related amounts of accumulated depreciation, depletion and amortization are shown below:

(In thousands)December 31, 2024December 31, 2023Proved properties$4,149,458 $3,535,922 Unproved properties253,752 207,658 Total proved and unproved properties4,403,210 3,743,580 Accumulated depreciation, depletion and amortization(2,110,990)(1,697,113)Net capitalized costs$2,292,220 $2,046,467 

Costs Incurred For Oil and Natural Gas Producing Activities

The following table sets forth the costs incurred in