MGY - Magnolia - Delivering Growth Free Cash And A Bullet Proof Balance Sheet

This is a Z4 Research post quarter update.

MGY Reported Solid 3Q19 Results; Guides In Line With Our Expectations; Giddings Wells Provide Modest Catalyst

The 3Q19 Numbers:

• Oil Differential: 105% of WTI.
• NGL realization: 22% of WTI
• Operating costs ex G&A were a better than expected $7.15 per BOE (have been trending lower and were guided to $7.75 for the quarter).
• Capex was 48% of EBITDAX (in line with prior comments about the second half moving closer to 50% vs their normal 60% of EBITDA type spend rate.
• Cash balance grew to $164.5 mm at

Read more ...