Magnolia Oil & Gas reports record Q2 2026 production

Magnolia Oil & Gas reported record quarterly production for the second quarter of 2026. Total company production increased 8% year-over-year to 106,100 barrels of oil equivalent per day, with oil output rising 5% to 41,900 barrels per day.

The company reported adjusted net income of approximately $184 million, or $0.99 per diluted share, and adjusted EBITDAX of $370 million. Magnolia generated $235 million of free cash flow and returned $80 million to shareholders through dividends and share repurchases.

Due to these results, Magnolia raised its full-year 2026 standalone production-growth guidance to approximately 6%, up from the previous 5% estimate. The Giddings area remains the primary growth engine, accounting for roughly 81% of total production volumes.