Magnolia Oil & Gas Q3 adjusted net income jumps 114% on production growth
MGY•Magnolia Oil & Gas said third-quarter adjusted net income rose 114% year over year, while adjusted EBITDAX increased 79% to $392 million. It expects fourth-quarter 2026 production of 159,000-161,000 barrels of oil equivalent per day.
1. Quarterly results
Magnolia Oil & Gas reported third-quarter net income of $80.5 million and earnings per share of $0.35. Adjusted EBITDAX rose 79% year over year to $392 million, and adjusted net income more than doubled, increasing 114%.
2. Production and outlook
The company said higher total and oil production, especially in Giddings, and early benefits from integrating WildFire supported results. It expects fourth-quarter 2026 production of 159,000-161,000 barrels of oil equivalent per day, with oil making up 49%-50%, and drilling and completion capital spending of about $235 million. Magnolia expects 2027 production to grow 4%-5% from its second-quarter 2026 pro forma base.
3. Share repurchases
Magnolia repurchased 2.3 million shares and increased its buyback authorization by 15 million shares. The company cited positive well results on WildFire acreage as support for further development.
