Magnolia Oil & Gas raises FY25 production growth view to 7%-9% from 5%-7%

The company said, “The better than expected first quarter production supported by continued strong well performance leads us to increase our guidance for year-over-year production growth in the range of 7 to 9 percent, compared to our prior forecast of 5 to 7 percent. Magnolia is also reducing its total 2025 D&C capital spending by slightly more than 5 percent within the range of $430 to $470 million, from $460 to $490 million previously. This includes an estimate of non-operated capital that is similar to 2024 levels. Second quarter 2025 D&C capital spending is estimated to be approximately $110 million and total production for the second quarter is estimated to be roughly flat on a sequential quarterly basis, or approximately 97 Mboe/d. Oil price differentials are anticipated to be approximately a $3 per barrel discount to Magellan East Houston and Magnolia remains completely unhedged for all its oil and natural gas production. The fully diluted share count for the second quarter of 2025 is expected to be approximately 193 million shares, which is 4 percent lower than second quarter 2024 levels.”