Magnolia Oil & Gas: Outstanding Performance In Q3 2022

Nov. 09, 2022 8:30 PM ETMagnolia Oil & Gas Corporation (MGY)4 Comments

Summary

  • Magnolia's total production in Q3 2022 was 7% above the high-end of its guidance.
  • It also managed to exceed the high-end of its production guidance in Q2 2022.
  • This sets Magnolia up for 15% to 16% production growth in 2022 along with 10% production growth in 2023.
  • Magnolia appears capable of generating over $600 million in positive cash flow in 2023 at current strip while growing production.
  • Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More »

Purple magnolia flower, Magnolia felix isolated on white background, with clipping path

Dewin ' Indew/iStock via Getty Images

Magnolia Oil & Gas (NYSE:MGY) continued its streak of impressive results in Q3 2022. It reported production above the high-end of its guidance range for Q2 2022 and then followed it

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