Capital Markets | Capital Expenditure | Capital Expenditure - 2022
Magnolia Oil & Gas Details 2022 D&C Spending; Two-Rig Program
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Magnolia Oil & Gas reported its 2022 capital plan and guidance.
2022 Plan
- Capex: $350 million - up 52% vs. 2021 D&C capital
- D&C: $350 million
- Rigs Running: 2 rigs
- Production: Not Disclosed
- Giddings Asset: 40,000 BOEPD
Well plans were not provided.
1Q22 Guidance
For the first quarter of 2022, we expect our D&C capital to be in the range of $85 to $90 million and total production to be approximately 70 to 72 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 2022 is expected to be approximately 228 million shares which is 9 percent lower than first quarter 2021 levels.
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