Magnolia Oil & Gas Corp

Magnolia Oil & Gas Corporation is an independent oil and natural gas company that acquires, develops, explores for, and produces oil, natural gas, and natural gas liquid (NGL) reserves. The company's oil and natural gas properties are primarily located in the Karnes and Giddings areas of South Texas, where it targets the Eagle Ford Shale and Austin Chalk formations. Magnolia aims to create shareholder value through consistent, moderate annual production growth, achieved by a disciplined and efficient approach to capital spending. The company seeks to generate high pre-tax margins and consistent free cash flow, enabling strong returns of capital to shareholders through dividends and share repurchases. Magnolia's main asset is a controlling equity interest in Magnolia LLC. As the managing member, Magnolia operates and controls all business and affairs of Magnolia LLC and conducts business through Magnolia LLC and its subsidiaries. Magnolia consolidates the financial results of Magnolia LLC and its subsidiaries, recording non-controlling interests for the economic interest in Magnolia LLC held by its Unit Holders. As of December 31, 2025, Magnolia owned a 97.0% interest in Magnolia LLC, with the non-controlling interest at 3.0%. Magnolia is incorporated in Delaware and has its principal executive offices in Houston, Texas.