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MGY - Magnolia Oil & Gas: Positive Cash Flow May Approach $1 Billion At Current Strip
Magnolia Oil & Gas Corporation Class A
Magnolia is projected to generate $957 million in positive cash flow in 2022 at current strip while growing production by high-single digits.
At last report it remained unhedged, giving it full exposure to commodity prices.
The positive cash flow from 2022 may allow it to pay a $0.40 per share semi-annual dividend plus reduce its share count to 200 million by the end of 2022.
It appears roughly fairly priced for a longer-term $75 WTI oil scenario currently.