- Magnolia may generate close to $500 million in positive cash flow in 2022 at $65 WTI oil.
- It also had $245 million in cash on hand at the end of Q3 2021.
- It spent $78.7 million on share repurchases in Q3 2021, but its current share price looks less favorable for share repurchases.
- Magnolia is able to call its unsecured notes due 2026 starting in August 2022.
- That (and dividends) would appear to be a better use of its money than share repurchases in the high-teens.
For further details see:
Magnolia Oil & Gas: Share Repurchases May Not Add Value At Current Share Price