The company raised its 2026 standalone production growth guidance to 6% after Q2 output rose 8% year over year.
Magnolia Oil & Gas reported an 8% year-over-year increase in second-quarter production to 106,100 barrels of oil equivalent per day, prompting an upward revision of its 2026 standalone production growth guidance to approximately 6% from 5%. The company generated $235 million in free cash flow and returned $80 million to shareholders through dividends and share repurchases, while raising its quarterly dividend to $0.18 per share.
Adjusted net income for the quarter reached $184 million, or $0.99 per diluted share, with adjusted EBITDAX at $370 million. Capital expenditures for drilling and completion totaled $125 million, reflecting a 34% reinvestment rate relative to adjusted EBITDAX. The company also provided details on its pending $4.06 billion WildFire Energy acquisition, expected to close late in the third quarter.
The acquisition will add 810,000 net acres and approximately 53,000 BOE per day of production, with financing split between equity and debt. Magnolia plans to prioritize debt reduction post-transaction.