Magnolia Oil & Gas Corporation reported second quarter 2026 net income of $181.8 million, or $0.97 per diluted share, a 124% increase from the prior year period driven by higher oil and NGL prices and production growth. Adjusted EBITDAX rose 66% to $370.3 million with total production averaging 106.1 thousand barrels of oil equivalent per day. The company announced a definitive agreement to acquire WildFire Energy for approximately $4.06 billion, funded by $500 million in senior notes and 53.3 million new shares issued for net proceeds of $1.23 billion. Concurrently, the Board declared a quarterly cash dividend of $0.18 per share, payable September 1, 2026 to shareholders of record as of August 10, 2026, representing a 9% increase from the previous rate. Magnolia Oil & Gas Corporation is an oil and gas exploration and production company operating primarily in South Texas.
