Company: MGY
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001698990-25-000013
Chunk: 31

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 31
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 debt securities through public offerings or private placements, to fund Magnolia’s acquisitions and long-term liquidity needs. Magnolia’s ability to complete future offerings of equity and debt securities and the timing of these offerings will depend upon various factors, including prevailing market conditions and the Company’s financial condition. The Company anticipates its current cash balance, cash flows from operations, and its available sources of liquidity to be sufficient to meet the Company’s cash requirements. 

As of March 31, 2025, 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 March 31, 2025, the Company had $697.6 million of liquidity comprised of the $450.0 million of borrowing capacity under the RBL Facility, and $247.6 million of cash and cash equivalents.

Cash and Cash Equivalents

At March 31, 2025, Magnolia had $247.6 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.

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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:

Three Months Ended(In thousands)March 31, 2025March 31, 2024SOURCES OF CASH AND CASH EQUIVALENTSNet cash provided by operating activities$224,490 $210,932 USES OF CASH AND CASH EQUIVALENTSAcquisitions$(24,144)$(13,359)Deposits for acquisitions of oil and natural gas properties— (13,150)Additions to oil and natural gas properties(131,168)(120,986)Changes in working capital associated with additions to oil and natural gas properties9,210 20,244 Class A Common Stock repurchases(52,393)(51,201)Dividends paid(28,911)(24,010)Distributions to noncontrolling interest owners(829)(2,837)Other(8,746)(7,437)Net uses of cash and cash equivalents(236,981)(212,736)NET CHANGE IN CASH AND CASH