Management at Magnolia Oil and Gas Corp. said sticking to the South Texas-focused independent’s game plan resulted in an exceptional second quarter.

CEO Steve Chazen said Magnolia, in its fourth year as a publicly held exploration and production (E&P) company, operates on a tried-and-true business model.

“We have consistently executed our strategy, which prioritizes disciplined capital spending, moderate and steady production growth, generating high pre-tax margins and significant free cash flow, while maintaining low levels of debt,” he said.

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