Is Magnolia Oil & Gas Corporation (MGY) halal? Halal. Based on AAOIFI screening, Magnolia Oil & Gas Corporation passes both qualitative (business activity) and quantitative (financial ratio) screens with a compliance score of 88/100 (Grade: A).
MGY — Is Magnolia Oil & Gas Corporation Halal?
HalalMagnolia Oil & Gas Corporation
$27.75
+0.14%
About Magnolia Oil & Gas Corporation
Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation. As of December 31, 2021, the company's assets consisted of a total leasehold position of 4,71,263 net acres, including 23,785 net acres in Karnes and 4,47,478 net acres in the Giddings area, as well as holds 1,292 net wells with a total production capacity of 66.0 thousand barrels of oil equivalent per day. The company was incorporated in 2017 and is headquartered in Houston, Texas.
Sector: Energy · Industry: Oil & Gas Exploration & Production
Shariah Compliance Status
Based on AAOIFI screening standards
Very Good
Strong compliance across all metrics
Business Activity Screen
PassedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
Financial Ratio Screen
PassedFinancial ratios must be below AAOIFI thresholds
Compliance History
Halal — unchanged since May 2026.
No status changes recorded since we began tracking.
Tracked since May 2026. Updates automatically on each re-screen.
Purify Your MGY Dividends
0.2% non-compliant incomeMGY has 0.2% prohibited income. Calculate exactly how much of your dividends to donate.
Financial Overview
Market Cap
5.1B
Price
$27.75
Sector
Energy
Industry
Oil & Gas Exploration & Production
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Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.