Risk Factors Update Summary
- A sustained period of low oil, natural gas, and NGL prices could adversely affect financials.
- Inflation increased significantly, impacting operations and costs, with a peak of 9.1% in June 2022.
- Magnolia's assets contained 34 MMboe of proved undeveloped reserves in 2023, up from 31 MMboe in 2022.
- Three purchasers accounted for 61% of Magnolia's sales in 2023, down from four in 2022.
- Increased inflation led to a 3.4% rate by December 2023, affecting operating results and costs.
- Long-term declines in commodity prices may result in a proved property impairment of Magnolia.
- Magnolia's assets are located in areas prone to severe weather events due to climate change.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1698990&owner=exclude
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