Magnolia Oil & Gas Sustainability Profile
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 10 is lower than 64% 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 2024, Magnolia Oil & Gas reported significant carbon emissions, with Scope 1 emissions totalling approximately 622,491,000,000 kg CO2e, which includes about 513,000,000,000 kg CO2e from process emissions and approximately 43,899,000,000 kg CO2e from fugitive emissions. Additionally, their Scope 2 emissions were reported at about 19,001,000,000 kg CO2e. Comparatively, in 2023, the company recorded Scope 1 emissions of approximately 626,933,000,000 kg CO2e and Scope 2 emissions of about 18,638,000,000 kg CO2e. This indicates a slight reduction in Scope 1 emissions year-on-year. Magnolia Oil & Gas has not disclosed any Scope 3 emissions data, nor have they set specific reduction targets through initiatives such as the Science Based Targets initiative (SBTi). Their climate commitments and reduction initiatives remain unspecified, indicating a potential area for future development in their sustainability strategy. Overall, while Magnolia Oil & Gas has made strides in tracking and reporting their emissions, the absence of formal reduction targets suggests that further action may be necessary to align with industry standards for climate commitments.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 371,090,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000,000,000 | 000,000,000,000,000 |
| Scope 2 | - | - | - | 0,000,000 | 00,000,000,000,000 | 00,000,000,000,000 |
| Scope 3 | - | - | - | - | - | - |
How Carbon Intensive is Magnolia Oil & Gas's Industry?
How Carbon Intensive is Magnolia Oil & Gas's Location?
Magnolia Oil & Gas's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Magnolia Oil & Gas has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
