Magnolia Oil & Gas
Magnolia Oil & Gas Corporation, commonly referred to as Magnolia Oil & Gas, is a prominent player in the US oil and gas industry, headquartered in Houston, Texas. Founded in 2017, the company has quickly established itself in key operational regions, particularly in the Eagle Ford Shale and the Austin Chalk formations. Specialising in the exploration and production of oil and natural gas, Magnolia Oil & Gas focuses on leveraging advanced technologies and efficient operational practices to optimise resource extraction. The company is recognised for its commitment to sustainability and operational excellence, which sets it apart in a competitive market. With a strong portfolio of assets and a strategic approach to growth, Magnolia Oil & Gas has achieved significant milestones, positioning itself as a reliable and innovative entity in the energy sector.
DitchCarbon Score
How does Magnolia Oil & Gas's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Crude Oil Extraction industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Magnolia Oil & Gas's score of 5 is higher than 78% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Magnolia Oil & Gas's reported carbon emissions
In 2023, Magnolia Oil & Gas reported global carbon emissions of approximately 479,393,000 kg CO2e for Scope 1 and 12,072,000 kg CO2e for Scope 2. This marks a notable increase in Scope 1 emissions compared to previous years, with 2022 emissions recorded at 445,322,000 kg CO2e for Scope 1 and 7,678,000 kg CO2e for Scope 2. The company has not disclosed any Scope 3 emissions data. In 2022, Magnolia's Scope 1 emissions were about 445,322,000 kg CO2e, while Scope 2 emissions were approximately 7,678,000 kg CO2e. The trend shows a gradual increase in emissions over the years, with 2021 emissions at 322,006,000 kg CO2e for Scope 1 and no reported Scope 2 emissions. Despite these figures, Magnolia Oil & Gas has not set specific reduction targets or initiatives as part of their climate commitments. The absence of documented reduction targets suggests a need for further action in addressing their carbon footprint. The company continues to operate within the oil and gas sector, which is under increasing scrutiny for its environmental impact, highlighting the importance of establishing clear climate strategies moving forward.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 371,090,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | - | - | - | 0,000,000 | 00,000,000 |
| Scope 3 | - | - | - | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Magnolia Oil & Gas is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
