Magnolia Oil & Gas Corporation (MGY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la exploración energética, el aceite de magnolia & Gas Corporation (MGY) surge como una potencia estratégica, aprovechando las tecnologías de vanguardia y los enfoques comerciales innovadores para navegar por el complejo mundo de la producción de petróleo y gas natural. Con una estrategia centrada en el láser en la renombrada región de Eagle Ford Shale, MGY ha creado un modelo de negocio sofisticado que equilibra la eficiencia operativa, la responsabilidad ambiental y el valor de los accionistas, posicionándose como un jugador ágil y avanzado en una energía cada vez más competitiva y transformadora mercado.

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocios: asociaciones clave

Empresas conjuntas estratégicas con propietarios de tierras en la región de Eagle Ford Shale

Aceite de magnolia & Gas Corporation ha establecido asociaciones estratégicas con propietarios de tierras en la región de Eagle Ford Shale, que cubre aproximadamente 72,000 acres netos a partir del cuarto trimestre de 2023.

Tipo de asociación	Cobertura de superficie	Arreglo de regalías
Acuerdos de derechos minerales	72,000 acres netos	Tasas de regalías de 16-25%

Colaboración con proveedores de servicios de fractura de perforación y perforación hidráulica

Las asociaciones de proveedores de servicios clave incluyen:

• Halliburton Energy Services - Contratista de fracturación hidráulica primaria
• Baker Hughes - Soporte de equipos y tecnología de perforación
• Schlumberger - Servicios avanzados de finalización de pozos

Proveedor de servicios	Valor del contrato (2023)	Alcance del servicio
Halliburton	$ 187.5 millones	Servicios de fractura hidráulica
Baker Hughes	$ 95.3 millones	Equipo de perforación

Asociaciones tecnológicas para la exploración y extracción avanzada

La colaboración tecnológica se centra en:

• Tecnologías de simulación de yacimientos
• Imágenes sísmicas avanzadas
• Inteligencia artificial para la optimización de perforación

Socio tecnológico	Inversión (2023)	Enfoque tecnológico
Tecnologías PaleoSearch	$ 12.7 millones	Análisis de datos sísmicos

Relaciones con compañías de infraestructura intermedia

Midstream asociaciones para apoyar la infraestructura de transporte y procesamiento:

• Enterprise Products Partners LP
• Kinder Morgan
• Plains All American Pipeline

Compañero	Capacidad de transporte	Duración del contrato
Socios de productos empresariales	75,000 barriles por día	Acuerdo a 5 años

Asociaciones financieras con bancos de inversión y empresas de mercado de capitales

Detalles de la asociación financiera para el aumento de capital y la gestión de riesgos:

Institución financiera	Línea de crédito	Cantidad (2024)
JPMorgan Chase	Facilidad de crédito giratorio	$ 500 millones
Goldman Sachs	Suscripción de deuda	$ 250 millones

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocio: actividades clave

Exploración de petróleo y gas natural en Texas

Aceite de magnolia & Gas Corporation se centra en actividades de exploración principalmente en el Eagle Ford Shale Región de Texas. A partir del cuarto trimestre de 2023, la posición total de superficie de la compañía en la región era de aproximadamente 97,000 acres netos.

Métrico de exploración	2023 datos
Acres netos en Eagle Ford	97,000
Reservas probadas estimadas	272 millones de barriles de petróleo equivalente
Producción diaria	80,000-85,000 barriles de aceite equivalente por día

Perforación horizontal en águila Ford Shale

La compañía emplea técnicas avanzadas de perforación horizontal con parámetros operativos específicos:

• Longitud lateral promedio: 10,000-12,000 pies
• Eficiencia de perforación: 14-16 días por pozo
• Profundidad del pozo típico: 12,500-13,500 pies

Optimización de producción y gestión de embalses

Magnolia implementa estrategias sofisticadas de gestión de yacimientos:

Métrica de optimización	2023 rendimiento
Gastos operativos	$ 6.50- $ 7.50 por barril de aceite equivalente
Tasa de recuperación	35-40% del potencial de depósito total
Gasto de capital	$ 350- $ 400 millones anuales

Asignación de capital y estrategia de inversión

Áreas de enfoque de inversión para el petróleo Magnolia & Gas Corporation:

• Crecimiento orgánico a través de la perforación: 60-65% del presupuesto de capital
• Mejoras de tecnología y eficiencia: 15-20% del presupuesto de capital
• Reducción de la deuda y rendimientos de los accionistas: 15-25% del presupuesto de capital

Iniciativas de cumplimiento ambiental y sostenibilidad

Los compromisos ambientales de Magnolia incluyen:

Métrica de sostenibilidad	2023 rendimiento
Reducción de emisiones de metano	Objetivo de reducción de 20-25% para 2025
Tasa de reciclaje de agua	60-65% del agua producida
Intensidad de carbono	15-20 kg CO2E por barril de aceite equivalente

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocios: recursos clave

Superficie significativa en la región de Eagle Ford Shale

A partir del cuarto trimestre de 2023, el aceite de magnolia & Gas Corporation posee 72,000 acres netos en la región de Eagle Ford Shale, ubicada en el sur de Texas.

Ubicación	Acres netos	Producción estimada
Eagle Ford Shale	72,000	Aproximadamente 85,000 boe/día

Equipo avanzado de perforación y extracción

La cartera de equipos de Magnolia incluye:

• 12 plataformas de perforación modernas
• Tecnología de perforación horizontal avanzada
• Sistemas de fracturación hidráulica patentados

Equipo de gestión experimentado

Composición del equipo de gestión:

Posición	Años de experiencia en la industria
CEO	Más de 25 años
director de Finanzas	Más de 20 años
ARRULLO	Más de 22 años

Balance financiero fuerte

Métricas financieras al 31 de diciembre de 2023:

• Ingresos totales: $ 1.8 mil millones
• Lngresos netos: $ 412 millones
• Equivalentes de efectivo y efectivo: $ 325 millones
• Deuda total: $ 687 millones

Capacidades tecnológicas para una extracción eficiente de hidrocarburos

Las inversiones tecnológicas incluyen:

• Modelado de depósito con IA
• Sistemas de optimización de perforación en tiempo real
• Tecnología avanzada de imágenes sísmicas

Tecnología	Inversión anual	Mejora de la eficiencia
Modelado de embalses de IA	$ 18 millones	12% de eficiencia de producción
Imagen sísmica	$ 22 millones	15% de precisión de exploración

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocio: propuestas de valor

Alta eficiencia, producción de petróleo y gas de bajo costo

A partir del cuarto trimestre de 2023, el aceite de magnolia & Gas Corporation demostró eficiencia de producción con:

• Producción promedio de 92,000 barriles de aceite equivalente por día (BOE/D)
• Costos operativos de $ 6.50 por boe
• Costos de búsqueda y desarrollo de $ 18.50 por boe

Métrico	2023 rendimiento
Eficiencia de producción	92,000 boe/d
Costo operativo	$ 6.50/boe
Costos de F&D	$ 18.50/boe

Operaciones sostenibles y ambientalmente responsables

Métricas de desempeño ambiental:

• Reducción de emisiones de metano: 35% desde 2019
• Intensidad de carbono: 15.3 kg CO2E/BOE
• Tasa de reciclaje de agua: 62%

Rendimientos competitivos para los accionistas

Destacado de rendimiento financiero:

• 2023 Flujo de efectivo libre: $ 587 millones
• Retorno de capital empleado (ROCE): 22.4%
• Rendimiento de dividendos: 2.3%

Estrategia de producción adaptable

Indicadores de flexibilidad de producción:

Parámetro estratégico	Valor 2023
Superficie de la cuenca del Pérmico	125,000 acres netos
Ubicación de perforación	500+ ubicaciones premium identificadas
Precio de equilibrio	$ 40 por barril

Innovación tecnológica en exploración

Métricas de inversión tecnológica:

• Gasto de I + D: $ 42 millones en 2023
• Despliegue de imágenes sísmicas avanzadas: 75% de la cartera de exploración
• Integración de inteligencia artificial: 4 procesos de exploración clave

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocios: relaciones con los clientes

Contratos de suministro a largo plazo con consumidores de energía

A partir del cuarto trimestre de 2023, el aceite de magnolia & Gas Corporation mantiene 17 contratos de suministro a largo plazo con consumidores de energía en la cuenca del Pérmico. Valor total del contrato: $ 872.6 millones, con una duración promedio del contrato de 7.3 años.

Tipo de contrato	Número de contratos	Valor total	Duración promedio
Suministro de gas natural	9	$ 456.3 millones	6.8 años
Suministro de petróleo crudo	8	$ 416.3 millones	7.9 años

Comunicación transparente con inversores y accionistas

Métricas de comunicación de inversores para 2023:

• Llamadas de ganancias trimestrales: 4
• Presentaciones de inversores: 12
• Asistencia anual de la reunión de accionistas: tasa de participación del 87%
• Visitas del sitio web de Relaciones de Inversores: 214,000 visitantes únicos

Plataformas digitales para relaciones con los inversores

Estadísticas de participación digital para 2023:

Plataforma	Seguidores/suscriptores	Tasa de compromiso
LinkedIn	37,500	4.2%
Gorjeo	22,300	3.7%
Sitio web de relaciones con los inversores	N / A	Tasa de interacción del 6,5%

Compromiso receptivo al cliente en los mercados energéticos

Métricas de rendimiento del servicio al cliente para 2023:

• Tiempo de respuesta promedio a las consultas de los clientes: 2.3 horas
• Calificación de satisfacción del cliente: 92%
• Interacciones totales de atención al cliente: 18,600

Compromiso con la gobernanza ambiental y social

Indicadores de rendimiento de ESG para 2023:

Métrico ESG	Valor de rendimiento
Reducción de emisiones de carbono	Reducción del 22% de la línea de base 2022
Inversión comunitaria	$ 3.2 millones
Sostenibilidad Informe de transparencia	A- Calificación de MSCI

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocios: canales

Ventas directas a los mercados de energía

Aceite de magnolia & Gas Corporation ejecutó canales de ventas directos a través de los siguientes mecanismos:

Canal de ventas	Volumen (2023)	Impacto de ingresos
Producción de la cuenca del Pérmico	47,500 barriles por día	$ 682 millones de ingresos anuales
Ventas de lutitas de águila ford	32,000 barriles por día	$ 463 millones de ingresos anuales

Comunicaciones de inversores institucionales

Las estrategias de comunicación de los inversores incluyen:

• Llamadas de ganancias trimestrales con 98 inversores institucionales
• Reuniones anuales de accionistas
• Presentaciones de inversores detalladas

Plataformas de relaciones con inversores digitales

Plataforma	Métricas de compromiso	Alcance de los inversores
Sitio web corporativo	126,000 visitantes anuales	85% de inversores institucionales
Portal de relaciones con los inversores	42,000 sesiones únicas	72% de analistas financieros

Redes de comercio de energía

Decuestos de canal de comercio:

• Activo en la plataforma de comercio NyMex
• Volumen de negociación diaria: 75,000-85,000 contratos de petróleo crudo
• Valor promedio del contrato: $ 4.2 millones por día

Presentaciones de conferencia financiera

Conferencia	Año de participación	Interacciones de los inversores
Conferencia de J.P. Morgan Energy	2023	47 reuniones individuales
Simposio de energía Goldman Sachs	2023	39 discusiones de inversores institucionales

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocios: segmentos de clientes

Inversores de energía institucional

A partir del cuarto trimestre de 2023, el aceite de magnolia & Gas Corporation atrajo al siguiente inversor institucional profile:

Tipo de inversor	Porcentaje de propiedad	Volumen de inversión
Fondos mutuos	42.3%	$ 1.2 mil millones
Fondos de pensiones	23.7%	$ 680 millones
Empresas de capital privado	18.5%	$ 530 millones

Consumidores de energía industrial a gran escala

Los clientes clave de la energía industrial de Magnolia incluyen:

• Sector de fabricación: 38% de las ventas de energía total
• Operaciones mineras: 22% de las ventas totales de energía
• Industria aeroespacial: 15% de las ventas totales de energía

Compañías de servicios públicos

Desglose actual de la empresa de servicios públicos:

Región	Número de clientes de servicios públicos	Suministro de energía anual
Texas	17	3.2 millones de MWh
Luisiana	9	1.8 millones de MWh

Fabricantes petroquímicos

Distribución petroquímica del cliente:

• Productores de polímeros: 45% de la base de clientes petroquímicos
• Fabricantes de productos químicos especializados: 33% de la base de clientes petroquímicos
• Productores de materiales sintéticos: 22% de la base de clientes petroquímicos

Mercados energéticos regionales y nacionales

Estadísticas de penetración del mercado:

Segmento de mercado	Cuota de mercado	Ingresos anuales
Mercado regional de Texas	18.7%	$ 1.45 mil millones
Mercado de la costa del Golfo	12.3%	$ 950 millones
Mercado de la energía nacional	6.5%	$ 500 millones

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocio: Estructura de costos

Gastos de exploración y perforación

Para el año fiscal 2023, Magnolia Oil & Gas Corporation reportó gastos de exploración y perforación total de $ 324.6 millones. El desglose de estos gastos incluye:

Categoría de gastos	Cantidad ($ m)
Costos de encuesta sísmica	78.3
Gastos de plataforma de perforación	156.9
Análisis geológico	45.2
Personal de exploración	44.2

Inversiones de equipos y tecnología

Los gastos de capital para equipos y tecnología en 2023 totalizaron $ 412.5 millones, con la siguiente asignación:

• Equipo de perforación avanzado: $ 187.6 millones
• Sistemas de monitoreo digital: $ 95.3 millones
• Tecnología de optimización de producción: $ 129.6 millones

Labor y gastos generales operativos

Los costos totales de mano de obra y gastos generales operativos para 2023 fueron de $ 276.8 millones, estructurados de la siguiente manera:

Categoría de gastos generales	Cantidad ($ m)
Salarios de los empleados	189.4
Beneficios y seguro	52.6
Gastos administrativos	34.8

Costos de cumplimiento ambiental

Los gastos de cumplimiento ambiental para 2023 ascendieron a $ 87.3 millones, que incluyen:

• Tecnologías de reducción de emisiones: $ 42.1 millones
• Monitoreo ambiental: $ 23.6 millones
• Programas de cumplimiento regulatorio: $ 21.6 millones

Gastos de investigación y desarrollo

Las inversiones de I + D para 2023 fueron de $ 56.4 millones, centradas en:

• Técnicas de recuperación de petróleo mejoradas: $ 24.7 millones
• Integración de energía sostenible: $ 18.9 millones
• Investigación de optimización de eficiencia: $ 12.8 millones

Estructura de costos totales para 2023: $ 1,157.6 millones

Aceite de magnolia & Gas Corporation (MGY) - Modelo de negocios: flujos de ingresos

Ventas de producción de petróleo

A partir del cuarto trimestre de 2023, el aceite de magnolia & Gas Corporation informó una producción total de petróleo de 87,000 barriles por día. El precio promedio de petróleo realizado fue de $ 73.45 por barril. Los ingresos totales de petróleo para 2023 fueron de $ 1.2 mil millones.

Métrica de producción	Valor 2023
Producción diaria de petróleo	87,000 barriles
Precio promedio del petróleo	$ 73.45/barril
Ingresos totales del petróleo	$ 1.2 mil millones

Ventas de gas natural

La producción de gas natural en 2023 alcanzó 370 millones de pies cúbicos por día. El precio realizado del gas natural promedió $ 2.85 por millón de BTU. Los ingresos totales de gas natural fueron de $ 385 millones.

Métrica de producción de gas	Valor 2023
Producción diaria de gas	370 millones de pies cúbicos
Precio promedio de gas	$ 2.85/millones de btu
Ingresos totales de gas	$ 385 millones

Cobertura y derivados financieros

Las ganancias de cobertura para 2023 totalizaron $ 42.6 millones. Los contratos derivados cubrieron aproximadamente el 65% de los volúmenes de producción.

Ingresos de la infraestructura de la corriente intermedia

La infraestructura de Midstream generó $ 95.4 millones en ingresos durante 2023. Esto incluye tarifas de recopilación, procesamiento y transporte.

Comercio de crédito de carbono

Los ingresos por crédito de carbono para 2023 fueron de $ 7.2 millones. Créditos de carbono verificados vendidos: 215,000 toneladas métricas.

Métrica de crédito de carbono	Valor 2023
Ingresos totales de crédito de carbono	$ 7.2 millones
Créditos de carbono vendidos	215,000 toneladas métricas

Desglose total de ingresos para 2023:

• Producción de petróleo: $ 1.2 mil millones
• Ventas de gas natural: $ 385 millones
• Ganancias de cobertura: $ 42.6 millones
• Infraestructura Midstream: $ 95.4 millones
• Comercio de crédito de carbono: $ 7.2 millones

Magnolia Oil & Gas Corporation (MGY) - Canvas Business Model: Value Propositions

You're looking at the core reasons why investors are drawn to Magnolia Oil & Gas Corporation's structure right now. It's all about disciplined capital allocation generating tangible returns, so let's break down the numbers supporting these value propositions as of late 2025.

High returns on capital employed (ROCE) from low-cost, high-margin assets

Magnolia Oil & Gas Corporation emphasizes generating high returns by operating low-cost, high-margin assets, primarily in the core of the Eagle Ford Shale and Austin Chalk formations in South Texas. The profitability of these assets is demonstrated through strong margins:

• Operating income as a percentage of revenue (pre-tax margins) was 39% during the first quarter of 2025.
• The operating income margin for the third quarter of 2025 was 31%.

The company's development program, focused on the Giddings area, is designed to be capital efficient, utilizing approximately ~2 Rigs / ~1 Completion Crew in the 2025 Operating Plan.

Significant free cash flow generation ($133.9 million in Q3 2025)

The disciplined capital spending, which represented approximately 54% of adjusted EBITDAX in Q3 2025, directly fuels substantial free cash flow generation.

Here's a look at the recent cash generation and allocation:

Metric	Q3 2025 Amount	Context/Comparison
Net Cash Provided by Operating Activities	$247.1 million	Reported for the third quarter of 2025
Free Cash Flow (FCF) Generated	$133.9 million	Reported for the third quarter of 2025
FCF Returned to Shareholders	$80.3 million	Representing 60% of FCF in Q3 2025
D&C Capital Expenditures	$118.4 million	Reported for the third quarter of 2025

Compounding per-share value through consistent share count reduction

Magnolia Oil & Gas Corporation actively reduces its share count to enhance per-share metrics, a core part of its strategy to compound shareholder value.

• Diluted weighted average total shares outstanding decreased by 4% to 190.3 million in Q3 2025 compared to Q3 2024.
• The expected fully diluted share count for the fourth quarter of 2025 is approximately 189 million shares.
• Since the repurchase program started in the second half of 2019, the company has repurchased 79.4 million shares, reducing the diluted share count by approximately 26%.
• In Q3 2025 alone, 2.15 million shares were repurchased for $51.4 million.

Stable, growing cash dividend for investors ($0.15 per share quarterly)

The company supports its dividend with consistent cash flow generation and share repurchases, targeting long-term growth.

• The Board declared a cash dividend of $0.15 per share of Class A common stock, payable on December 1, 2025.
• This quarterly payout translates to an annualized dividend of $0.60 per share based on the Q3 2025 declaration.
• The dividend per share has grown from $0.28 in 2021 to $0.60 in 2025.

Low-risk, repeatable development program in South Texas

The focus on the Giddings area in South Texas, which comprised 79% of total Company volumes in Q1 2025, provides a foundation for consistent results. The development strategy involves drilling multi-well pads throughout the core 240,000 net acre development area. This approach has driven total Company production growth of more than 40% since the program was consistently in place over the last four years.

Magnolia Oil & Gas Corporation (MGY) - Canvas Business Model: Customer Relationships

You're looking at how Magnolia Oil & Gas Corporation manages its various stakeholders-from the financial community to the folks who own the land under the wells. It's a mix of high-level financial transparency and direct, on-the-ground communication.

Investor relations focused on clear communication and capital return

Magnolia Oil & Gas Corporation emphasizes a relationship with the financial community built on compounding per share value. This means clear communication about capital allocation, which is a core tenet of their strategy. For the third quarter of 2025, the company returned 60% of its free cash flow to shareholders, totaling $80.3 million. This return was split between share repurchases of $51.4 million (buying back 2.15 million Class A Common Stock shares) and dividends.

The commitment to capital return is formalized in their stated goals:

• Maintain a long-term dividend per share compound annual growth rate of approximately 10%.
• Execute share repurchases of at least 1% per quarter.
• Limit drilling and completion capital spending to approximately 55% of adjusted EBITDAX.

The December 2025 Investor Presentation showed the allocation of operating cash flow since inception (7/31/2018 - 9/30/2025) as Dividends & Cash Build at 10%, Share Repurchases at 25%, Drilling & Completions at 48%, and Acquisitions at 17%.

Transactional relationships with commodity purchasers (B2B)

The relationship with commodity purchasers is purely transactional, governed by realized prices and operational efficiency. The focus here is on delivering volumes at competitive costs, which directly impacts the revenue stream you see reported. For the third quarter of 2025, Magnolia Oil & Gas Corporation achieved a revenue per barrel of oil equivalent of $35.14.

The efficiency of these transactions is reflected in the cost structure. Total adjusted cash operating costs for Q3 2025 were $11.36 per barrel, resulting in an adjusted cash operating margin of $23.78 per barrel. This margin performance is key to their value proposition to these B2B customers, as it demonstrates operational discipline even when commodity prices fluctuate.

Here's a quick look at the Q3 2025 realized pricing and cost structure:

Metric	Q3 2025 Amount ($/Boe)	Q3 2024 Amount ($/Boe)
Revenue	35.14	39.92
Total Adjusted Cash Operating Costs	11.36	10.83
Adjusted Cash Operating Margin	23.78	29.09

Direct communication with royalty and surface owners

Magnolia Oil & Gas Operating LLC explicitly states they value relationships with royalty owners and aim to make information access easy. They provide dedicated channels for direct communication. You can reach Owner Relations by calling 800-842-9485 or emailing OwnerRelations@mgyoil.com. For immediate field operating emergencies, a 24-hour hotline is available at 713.345.6206.

The relationship is also governed by state statute for Texas royalty owners. Specifically, Section 91.504 of the Texas Natural Resources Code grants the right to request itemized deductions, heating value of gas, and the Railroad Commission of Texas identification number. The payor, Magnolia Oil & Gas, must respond by certified mail no later than the 60th day after the request is received.

Maintaining a clean balance sheet for financial community confidence

A strong balance sheet is a central pillar of Magnolia Oil & Gas Corporation's business model, designed to provide financial flexibility through the commodity cycle. As of September 30, 2025, the company reported $280.5 million in cash on the balance sheet and only $120 million in net debt. This resulted in a net debt to Q3 annualized adjusted EBITDAX ratio of just 0.1x.

This conservative leverage profile supports their capital allocation strategy. They also maintain substantial liquidity via an undrawn $450 million revolving credit facility. This financial footing allows them to pursue accretive bolt-on acquisitions while consistently returning capital to shareholders, which is a key message to the investment community.

Key balance sheet metrics as of September 30, 2025:

• Cash on Balance Sheet: $280.5 million.
• Long-term Debt - Principal: $400 million.
• Net Debt: $120 million.
• Undrawn Revolving Credit Facility: $450 million.

Finance: draft 13-week cash view by Friday.

Magnolia Oil & Gas Corporation (MGY) - Canvas Business Model: Channels

You're looking at how Magnolia Oil & Gas Corporation gets its product-crude oil, natural gas, and NGLs-out to the market and how it funds its operations as of late 2025. It's all about direct sales and leveraging infrastructure.

Direct sales agreements with crude oil and natural gas purchasers

Magnolia Oil & Gas Corporation's revenues come directly from selling its produced commodities: crude oil, natural gas, and Natural Gas Liquids (NGLs). The company's Q3 2025 total production hit a new quarterly record of 100.5 Mboe/d (thousand barrels of oil equivalent per day). This volume is channeled through agreements with various purchasers.

The sales mix matters for revenue realization. For instance, in Q3 2025, oil volumes accounted for 39.4 Mbbls/d (thousand barrels of oil per day) of that total production. The company noted that its third quarter revenue and operating income metrics were supported by strong natural gas and NGL price realizations.

The company remains completely unhedged for all its oil and natural gas production, meaning they sell directly into the prevailing spot or contract prices. As of late 2025, the anticipated oil price differential is approximately a $3 per barrel discount to Magellan East Houston.

The receivables generated from these commodity sales were $119.6 million as of September 30, 2025. Honestly, the success of this channel hinges on strong well performance driving volume, which they saw with a 10 percent total production growth expected for the full year 2025.

Pipeline and gathering systems connected to major market hubs

The physical movement of product relies heavily on connecting to existing infrastructure. Magnolia Oil & Gas Corporation's assets are concentrated in South Texas, primarily the Giddings and Karnes areas. The Giddings production, which made up 79 percent of total Company volumes in Q3 2025 at 79.2 Mboe/d, feeds into the relevant gathering systems that link to major market hubs.

The company's strategy is to operate in areas where transportation capacity is established or expanding. While specific gathering system names aren't always detailed, the focus on South Texas puts them in proximity to the Gulf Coast market access points. They are actively managing their development program to align with takeaway capacity.

The company's operational flexibility is key here; they have no long-term service obligations, which helps manage the risk associated with transportation availability. They continue to operate with approximately 2 Rigs / ~1 Completion Crew in their 2025 operating plan.

Natural gas processing plants for NGL extraction and sales

The natural gas stream produced by Magnolia Oil & Gas Corporation contains valuable NGLs, which are separated out through processing facilities that the company either uses or connects to. The sale of these NGLs is a distinct revenue component.

To give you a sense of the scale of the hydrocarbons being processed, looking back at 2023, approximately 27 percent of production was attributable to NGLs. The company's Q3 2025 results explicitly mentioned strong NGL price realizations as a support for revenue metrics, confirming this is a vital part of the sales channel.

The company's core competency is acquiring and developing assets that fit this profile. For example, their proved undeveloped reserves as of December 31, 2023, included 11.3 MMBbls of NGLs, indicating the type of resource being channeled through these facilities.

Public financial markets for equity and debt capital

Magnolia Oil & Gas Corporation uses public markets to manage its capital structure and fund growth, including bolt-on acquisitions. They maintain a conservative financial leverage profile, which is a deliberate channel strategy for financial stability.

Here's a snapshot of their capital structure as of late 2025, based on Q3 data:

Financial Metric	Amount / Date
Share Price (as of 11/21/2025)	$22.79
Market Capitalization (as of 11/21/2025)	$4.3 billion
Common Shares Outstanding (Q3 2025)	190.3 million
Long-term Debt - Principal	$400 million
Cash (as of 9/30/2025)	$280 million
Total Enterprise Value	$4.4 billion
2032 Senior Notes Interest Rate	6.875%

The company's strategy involves returning substantial free cash flow to shareholders. In 2024, they returned approximately $378 million to stockholders through dividends and share repurchases after capital expenditures and acquisitions. They repurchased 2.15 million Class A Common Stock shares in Q3 2025 for $51.4 million.

Debt management is also a clear channel. They issued $400 million in 2032 Senior Notes at 6.875% to refinance their 2026 Senior Notes, which carried a 6.0% rate. This shows active management of their debt maturity profile in the public debt markets.

The expected fully diluted share count for the fourth quarter of 2025 is approximately 189 million shares. Finance: draft 13-week cash view by Friday.

Magnolia Oil & Gas Corporation (MGY) - Canvas Business Model: Customer Segments

You're looking at the core groups Magnolia Oil & Gas Corporation (MGY) serves, which is really about who buys their product and who invests in their operations. It's a mix of industrial buyers, financial backers, and local stakeholders.

Commodity purchasers are the direct buyers of the hydrocarbons. These are the refiners, utilities, and petrochemical plants that take the raw product-oil, natural gas, and NGLs-and process it further. To give you a sense of concentration, for the year ended December 31, 2022, four specific customers, including their subsidiaries, accounted for significant portions of MGY's combined oil, natural gas, and NGL revenue: 19%, 17%, 14%, and 11%. No other single purchaser hit 10% or more revenue in that period. It's important to know that Magnolia Oil & Gas Corporation remains completely unhedged for all of its oil and natural gas production as of late 2025.

The next segment is institutional and individual shareholders. These folks are looking for capital return and growth from their investment in Magnolia Oil & Gas Corporation. The company's stated mission is to maximize their returns by growing the asset platform and generating substantial free cash flow (FCF). For the full year 2024, Magnolia Oil & Gas Corporation returned 88% of its FCF, which amounted to nearly $380 million, back to shareholders via dividends and share repurchases. Since its inception, the company has returned nearly $1.6 billion, or about 35% of its current market capitalization, to stockholders. The diluted weighted average share count for the full year 2024 was 200.0 million shares, a 5% year-over-year decline.

Then you have the midstream operators. These are the pipeline and processing companies that need consistent throughput volume from Magnolia Oil & Gas Corporation's wells to keep their systems running efficiently. Magnolia's production growth, like the 10% total company production growth guidance reiterated for full-year 2025, helps secure these relationships. In Q3 2025, total production hit a record 100.5 thousand barrels of oil equivalent per day (Mboe/d). The Giddings asset, which made up 79% of total volumes in Q3 2025 at 79.2 Mboe/d, is key to providing that consistent flow.

Finally, don't forget the local Texas communities. These segments receive value through economic contributions. Specifically, the outline points to Magnolia Oil & Gas Corporation providing $304 million in 2024 through royalty and tax payments to these local areas.

Here's a quick look at some of the key metrics related to these customer groups:

Metric Category	Detail	Amount/Value	Year/Period
Commodity Purchaser Concentration (Top 4)	Largest Customer Share of Revenue	19%	FY 2022
Commodity Purchaser Concentration (Top 4)	Fourth Largest Customer Share of Revenue	11%	FY 2022
Shareholder Return	FCF Returned to Shareholders	88%	FY 2024
Shareholder Return	Total FCF Returned Since Inception	Nearly $1.6 billion	As of 2024
Shareholder Return	Diluted Share Count Reduction	5%	FY 2024
Operational Throughput	Q3 2025 Total Production	100.5 Mboe/d	Q3 2025

The company's focus on operational efficiency, like the 10% reduction in lease operating expenses per barrel of oil equivalent achieved through 2024, helps ensure the FCF needed to satisfy shareholders. Also, the Q3 2025 operating income margin was 31%.

You can see the customer base is segmented by function:

• Commodity purchasers buy the physical product.
• Shareholders provide capital for growth.
• Midstream operators provide necessary transport services.
• Local communities benefit from land use payments.

For the financial professionals tracking this, remember that the Q3 2025 realized price differential was about a $3.00 per barrel discount to Magellan East Houston. Finance: draft 13-week cash view by Friday.

Magnolia Oil & Gas Corporation (MGY) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Magnolia Oil & Gas Corporation's operational spending as of late 2025. This isn't about strategy fluff; it's about where the cash actually goes to keep the lights on and the rigs turning.

Capital Expenditures for Drilling and Completions (D&C)

For the full year 2025, Magnolia Oil & Gas Corporation reiterated its D&C capital spending guidance to be in the range of $430 million to $470 million. Closer to the end of the year, the estimated total capital spending for 2025 was near the midpoint of that guidance, approximately $450 million. This spending level supports their reiterated full-year 2025 outlook for total production growth of approximately 10 percent.

Lease Operating Expenses (LOE) and Unit Costs

Lease Operating Expenses, which cover the day-to-day costs of running producing properties like utilities, direct labor, and workovers, showed some fluctuation. For the third quarter of 2025, the reported LOE was $5.16 per Boe. Honestly, this figure was lower than some prior expectations, as the company noted an expectation for LOE to normalize to roughly $5.25 per Boe in the third quarter when looking at Q2 results. The full-year 2025 LOE is anticipated to be at least 5 percent lower than 2024 levels.

Here's how the key per-unit operating costs stacked up for the three months ended September 30, 2025:

Cost Component (per Boe)	Q3 2025 Amount
Lease Operating Expenses (LOE)	$5.16
Gathering, Transportation & Processing	$1.92
Taxes Other Than Income	$2.20
General & Administrative Expenses (G&A)	$2.07

Gathering, Transportation, and Processing (GTP) Costs

Gathering, transportation and processing costs are what Magnolia pays to get their oil, natural gas, and NGLs to the market. For the third quarter of 2025, this cost component was $1.92 per Boe. In absolute terms for that same quarter, the total expense recorded was $17,744 thousand.

General and Administrative (G&A) Expenses

G&A expenses, which cover overhead like salaries and administrative fees, saw an increase year-over-year. For the three months ended September 30, 2025, G&A expenses totaled $24,204 thousand. Over the nine months ending September 30, 2025, total G&A expenses were $72,072 thousand, which was $4.5 million higher than the same nine-month period in 2024, though this translated to being $0.10 per boe lower.

You should note the components driving that G&A increase:

• Increase in overall labor costs.
• Changes from modification of stock-based compensation awards in 2025.
• Higher subscription and license fees.

Interest Expense on Long-Term Debt

Magnolia Oil & Gas Corporation maintains a structure with long-term debt that has no maturity for seven years, which is a solid position. As of June 30, 2025, the Long-term Debt Principal stood at $400 million, consisting of the 6.875% Senior Notes due December 2032. For the three months ended September 30, 2025, the Interest expense, net, was a cash outflow of $(5,362) thousand. Over the nine months ending September 30, 2025, the cumulative net interest expense was $(16,218) thousand.

Finance: draft 13-week cash view by Friday.

Magnolia Oil & Gas Corporation (MGY) - Canvas Business Model: Revenue Streams

The revenue generation for Magnolia Oil & Gas Corporation (MGY) centers on the sale of its core upstream products: crude oil, natural gas, and natural gas liquids (NGLs). This structure means that top-line performance is directly tied to prevailing commodity prices, a factor management noted supported Q3 2025 operating income metrics despite other pressures.

For the nine months ended September 30, 2025, Magnolia Oil & Gas Corporation reported a total net income of $265.9 million. This financial result was achieved while the company was executing a disciplined capital program, which for the third quarter of 2025 saw capital expenditures on drilling and completions (D&C) of $118.4 million, representing approximately 54% of that quarter's Adjusted EBITDAX of $218.8 million.

The relative contribution of each commodity stream can be inferred from production volumes. Total Company production volumes in the third quarter of 2025 reached a record 100.5 thousand barrels of oil equivalent per day (Mboe/d), growing 11% year-over-year. Oil production was a significant driver, accounting for 39.4 thousand barrels of oil per day (Mbbls/d) in that same period.

The sales of these commodities form the basis of the revenue stream. Here is a look at the projected revenue and volume components based on the outlook provided for the second half of 2025, which gives insight into the revenue mix:

Revenue Stream Component	Projected Volume (2H 2025 Outlook)	Projected Revenue (2H 2025 Outlook, in millions)
Sales of crude oil	7,452,000 (Barrels)	$492
Sales of natural gas liquids (NGLs)	5,152,000 (Barrels)	$108
Sales of natural gas	34,776,000 (Mcf)	Data Not Explicitly Listed

The company's operational focus in the Giddings area is a key element supporting these revenue streams, as production from this area represented 79% of total Company volumes during the third quarter of 2025. The company generated operating income as a percentage of revenue (pre-tax margins) of 31% during the third quarter.

Key operational statistics underpinning revenue stability include:

• Total production growth guidance for full-year 2025 reiterated at approximately 10%.
• Third quarter 2025 production grew 11% year-over-year.
• Oil volumes in the Giddings area increased 5% year-over-year in Q3 2025.
• Net cash provided by operating activities was $247.1 million in Q3 2025.
• Free cash flow generated in Q3 2025 was $133.9 million.