Feb. 18 at 9:15 PM
$MGY Magnolia Oil & Gas sees FY25 D&C capital spending
$460M-
$490M
Magnolia expects its total 2025 D&C capital spending to be in the range of
$460 to
$490 million. As the majority of our OFS and materials costs are under contract through at least mid-2025, we expect our D&C capital to be roughly flat compared to last year's levels. This also includes an estimate of non-operated capital that is similar to 2024 levels. We currently expect this year's capital spending program and activity to deliver full-year total production growth in the range of 5 to 7 percent for 2025.
First quarter 2025 D&C capital spending is estimated to be approximately
$135 million and we expect this to be the highest quarterly rate of spending for the year. Total production for the first quarter is estimated to be approximately 94 Mboe/d. Oil price differentials are anticipated to be approximately a
$3 per barrel discount to Magellan East Houston and Magnolia remains completely unhedged for all its oil and natural gas production. The fully diluted share count for the first quarter of 2025 is expected to be approximately 195 million shares, which is 5 percent lower than first quarter 2024 levels.
