Magnolia Oil & Gas Corporation Announces Production Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 14, 2024 at 04:01 pm EST
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Magnolia Oil & Gas Corporation announced production results for the fourth quarter and full year ended December 31, 2023. For the quarter, the company reported average daily production of Oil was 35,466 Bbls/d against 32,307 Bbls/d a year ago. Average daily production of Natural gas was 154,848 Mcf/d against 135,380 Mcf/d a year ago. Average daily production of Natural gas liquids was 24,140 Bbls/d against 18,914 Bbls/d a year ago. Average total production was 85,414 Boe/d against 73,785 Boe/d a year ago.
For the year, the company reported average daily production of Oil was 34,541 Bbls/d against 33,394 Bbls/d a year ago. Average daily production of Natural gas was 150,918
Mcf/d against 138,796 Mcf/d a year ago. Average daily production of Natural gas liquids was 22,645 Bbls/d against 18,833 Bbls/d a year ago. Average total production was 82,340 Boe/d against 75,360 Boe/d a year ago.
Magnolia Oil & Gas Corporation is an independent oil and natural gas company, which acquires, develops, explores and produces oil, natural gas and natural gas liquid (NGL) reserves. The Companyâs oil and natural gas properties are located primarily in the Karnes and Giddings areas in South Texas, where the Company targets the Eagle Ford Shale and Austin Chalk formations. The Companyâs assets consist of a total leasehold position of 789,719 gross (576,504 net) acres, including 72,503 gross (50,681 net) acres in the Karnes area and 717,216 gross (525,823 net) acres in the Giddings area. The Karnes area consists of oil and natural gas assets primarily located in Karnes, Dimmit, Gonzales, and Zavala Counties, Texas, in the core of the Eagle Ford Shale. The acreage comprising the Karnes area also includes the Austin Chalk formation overlying the Eagle Ford Shale. The Giddings Assets are located in Brazos, Burleson, Fayette, Grimes, Lee, Milam, Robertson and Washington Counties, Texas.
MAGNOLIA OIL & GAS CORPORATION 
