MGY Profile
Magnolia Oil & Gas Corporation specializes in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids within the United States. The company’s operations are concentrated primarily in South Texas, specifically in Karnes County and the Giddings Field. These areas are notable for their rich deposits within the Eagle Ford Shale and the Austin Chalk formation.
As of December 31, 2021, Magnolia Oil & Gas holds a significant leasehold position, encompassing approximately 471,263 net acres. This includes 23,785 net acres in the Karnes area and 447,478 net acres in the Giddings Field. The company operates a substantial number of wells, totaling 1,292 net wells, which collectively have a production capacity of 66.0 thousand barrels of oil equivalent per day. This extensive asset base underscores the company's robust presence in key oil and gas regions.
The company's operational strategy focuses on leveraging its extensive acreage and well infrastructure to drive efficient production and maximize resource recovery. Magnolia Oil & Gas employs advanced technologies and operational practices to enhance its exploration and production activities, ensuring optimal performance and sustainability in its operations.
Incorporated in 2017 and headquartered in Houston, Texas, Magnolia Oil & Gas Corporation is positioned as a significant player in the U.S. energy sector. Its strategic focus on core areas within South Texas and its commitment to expanding its asset base highlight its ongoing efforts to strengthen its position in the oil and gas industry.
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