Magnolia Oil and Gas Corp. may be at the beginning of a year-long surge in production growth after a strong showing in the first three months of the year in the Eagle Ford Shale and Austin Chalk formation.


The Houston-based independent previously launched development programs for parts of its South Texas assets, including the Giddings field and in Karnes County. Management in reporting the 1Q2022 results show those efforts are at the tipping point of a significant pay-off.

CEO Steve Chazen said much of the first quarter’s success was from the Giddings, which has quickly grown from about one-third of total production to nearly 60%. More progress is expected, he said, as the company continues to develop the field.

“With Giddings still in relatively early stages of development,...