Magnolia Oil & Gas Corporation (NYSE:MGY) Q1 2024 Earnings Conference Call May 8, 2024 11:00 AM ET

Company Participants

Tom Fitter - IR
Chris Stavros - President and CEO
Brian Corales - SVP and CFO

Conference Call Participants

Neal Dingmann - Truist
Leo Mariani - ROTH MKM
Charles Meade - Johnson Rice
Oliver Huang - Tudor Pickering Holton Company
Zach Parham - JPMorgan
Noah Hungness - Bank of America
Ati Modak - Goldman Sachs
Hanwen Chang - Wells Fargo
Sean Mitchell - Daniel Energy Partners
Paul Diamond - Citi

Operator

Good morning, everyone, and thank you for participating in Magnolia Oil & Gas Corporation's First Quarter 2024 Earnings Conference Call. My name is Megan, and I will be your moderator for today's call. At this time, all participants will be placed in a listen-only mode as our call is being recorded.

I will now turn the call over to Magnolia's management for their prepared remarks, which will be followed by a brief question-and-answer session.

Tom Fitter

Thank you, Megan, and good morning, everyone. Welcome to Magnolia Oil & Gas' first quarter earnings conference call. Participating on the call today are Chris Stavros, Magnolia's President and Chief Executive Officer; and Brian Corales, Senior Vice President and Chief Financial Officer.

As a reminder, today's conference call contains certain projections and other forward-looking statements within the meaning of the federal securities laws. These statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in these statements. Additional information on risk factors that could cause results to differ is available in the Company's annual report on Form 10-K filed with the SEC. A full safe harbor can be found on Slide 2 of the conference call slide presentation with the supplemental data on our website.

You can download Magnolia's first-quarter 2024 earnings press release as well as the conference call slides from the Investors section of the company's website at www.magnoliaoilgas.com.

I will now turn the call over to Mr. Chris Stavros.

Chris Stavros

Thank you, Tom, and good morning, everyone. We appreciate you joining us today for a discussion of our first quarter 2024 financial and operating results.

I will provide some comments on our first quarter, noting the progress of our development plan so far this year, discuss an important bolt-on acquisition that we recently completed and highlight some actions we're taking at the field level to reduce our cash operating costs. Brian will then review our first quarter financial results in greater detail and provide some additional guidance before we take your questions.