Magnolia Oil & Gas(US:MGY)2024-02-15 20:56Financial Performance & Capital Management - Magnolia's focus on cost reductions and share repurchases in 2023 has positively impacted corporate returns[2] - Magnolia has one of the best balance sheets in the industry, with a Net Debt / EBITDA of -0.1[3] - Magnolia has reduced its diluted share count by approximately 20% since 2019[10] - Magnolia's current liquidity stands at $851 million, including a fully undrawn credit facility[23] - Magnolia returned $78 million to shareholders in Q4, including $54 million in share repurchases (2.5 million shares) and $24 million in dividends[94] Production & Operations - Magnolia's full year production showed high-single digit year-over-year growth[6] - Total production for 2023 was 82.3 Mboe/d, a 9% year-over-year increase[32, 65] - Q4 2023 total production was 85.4 Mboe/d, a 16% year-over-year increase[32, 50] - The company's 2024 operating plan includes a capital budget of $450 - $480 million[5] Sustainability - Magnolia achieved its lowest annual flaring rate at 0.11% in 2022, a reduction of almost 90% since 2019[40]