10-K Filing

MAGNOLIA OIL & GAS CORP CIK: 1698990 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001698990-19-000006`
Period End Date	20181231
Filing Date	20190227
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	mgy-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 31 Income Statement 26 Cash Flow Statement 44 Stockholders Equity 20

Balance Sheet 31 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$23.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$135.76M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$140.28M	USD	Point-in-time
Accounts receivable - related party	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Drilling advances	`DrillingAdvances`	$12.26M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$292.36M	USD	Point-in-time
Oil and natural gas properties	`OilAndGasPropertySuccessfulEffortMethodGross`	$3.25B	USD	Point-in-time
Other	`PropertyPlantAndEquipmentOther`	$360.00K	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization`	$177.90M	USD	Point-in-time
Total property, plant and equipment, net	`OilAndGasPropertySuccessfulEffortMethodNet`	$3.07B	USD	Point-in-time
Deferred financing costs, net	`DebtIssuanceCostsLineOfCreditArrangementsNet`	$10.73M	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$18.87M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$38.36M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.43B	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$196.36M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationCurrent`	$1.00M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$197.36M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$388.63M	USD	Point-in-time
Asset retirement obligations, net of current	`AssetRetirementObligationsNoncurrent`	$84.98M	USD	Point-in-time
Long-term derivative liability	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Deferred taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$54.59M	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$528.21M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.64B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.51M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$1.03B	USD	Point-in-time
PARENTS NET INVESTMENT	`NetParentInvestment`	-	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$3.43B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$433.22M	USD	2 Qtrs
Lease operating expenses	`LeaseAndRentalExpense`	$30.75M	USD	2 Qtrs
Gathering, transportation and processing	`GasGatheringTransportationMarketingandProcessingCosts1`	$14.45M	USD	2 Qtrs
Taxes other than income	`TaxesExcludingIncomeAndExciseTaxes`	$23.17M	USD	2 Qtrs
Exploration expense	`ExplorationExpense`	$11.88M	USD	2 Qtrs
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$1.67M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionandAmortizationExcludingIntangibleAssets`	$177.89M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.04M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$28.80M	USD	2 Qtrs
Transaction related costs	`BusinessCombinationAcquisitionRelatedCosts`	$24.61M	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$319.26M	USD	2 Qtrs
OPERATING INCOME	`OperatingIncomeLoss`	$113.96M	USD	2 Qtrs
Income from equity method investee	`IncomeLossFromEquityMethodInvestments`	$773.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$12.45M	USD	2 Qtrs
Loss on derivatives, net	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-8.37M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-20.05M	USD	2 Qtrs
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$93.90M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$11.46M	USD	2 Qtrs
NET INCOME	`ProfitLoss`	$82.45M	USD	2 Qtrs
LESS: Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$43.35M	USD	2 Qtrs
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK	`NetIncomeLoss`	$39.09M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.25	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.25	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	154.53M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	158.23M	shares	2 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$82.45M	USD	2 Qtrs
Depreciation and depletion	`DepreciationDepletionAndAmortization`	$177.89M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.04M	USD	2 Qtrs
Exploration expense, non-cash	`NoncashExplorationExpense`	$567.00K	USD	2 Qtrs
Asset retirement obligations accretion expense	`AssetRetirementObligationAccretionExpense`	$1.67M	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.46M	USD	2 Qtrs
Non-cash interest expense	`PaidInKindInterest`	$10.09M	USD	2 Qtrs
(Gain) loss on derivatives, net	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Cash settlements of matured derivative contracts	`PaymentsForProceedsFromSettlementofDerivatives`	-	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$12.13M	USD	2 Qtrs
Contingent consideration change in fair value	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$6.70M	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$1.85M	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$773.00K	USD	2 Qtrs
Account receivable	`IncreaseDecreaseInAccountsReceivable`	$50.61M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.55M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$68.93M	USD	2 Qtrs
Drilling advances	`IncreaseDecreaseinDrillingAdvances`	$9.56M	USD	2 Qtrs
Other assets and liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$808.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$305.47M	USD	2 Qtrs
Proceeds withdrawn from trust account	`ProceedsfromWithdrawalFromTrustAccount`	$656.08M	USD	2 Qtrs
Additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$141.62M	USD	2 Qtrs
Purchase of and contributions to equity method investment	`PaymentsToAcquireEquityMethodInvestments`	-	USD	2 Qtrs
Payment of contingent consideration	`PaymentForContingentConsiderationLiabilityInvestingActivities`	$26.00M	USD	2 Qtrs
Other investing	`PaymentsForProceedsFromOtherInvestingActivities`	$350.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-877.64M	USD	2 Qtrs
Parents contribution, net	`ProceedsFromContributionsFromParent`	-	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$355.00M	USD	2 Qtrs
Proceeds from issuance of long term debt	`ProceedsFromIssuanceOfLongTermDebt`	$400.00M	USD	2 Qtrs
Repayments of deferred underwriting compensation	`RepaymentsofDeferredStockIssuanceCosts`	$22.75M	USD	2 Qtrs
Cash paid for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$23.34M	USD	2 Qtrs
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.01M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$707.90M	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$135.74M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$135.76M	USD	Point-in-time
CASH AND CASH EQUIVALENTS End of period	`CashAndCashEquivalentsAtCarryingValue`	$23.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS End of period	`CashAndCashEquivalentsAtCarryingValue`	$135.76M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$889.00K	USD	2 Qtrs
Accruals or liabilities for capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$50.63M	USD	2 Qtrs
Contributions of assets to purchase equity method investment	`ContributionofAssetstoPurchaseEquityMethodInvestment`	-	USD	2 Qtrs
Contingent consideration issued in Business Combination	`NoncashorPartNoncashAcquisitionContingentConsiderationIssued`	$149.70M	USD	2 Qtrs
Non-compete	`StockIssued1`	$44.40M	USD	2 Qtrs
Equity issuances in connection with business combinations	`BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable`	$1.48B	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`NetParentInvestment`	-	USD	Point-in-time
Balance at beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.71B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.54B	USD	Point-in-time
Class A Common Stock released from possible redemption	`StockIssuedDuringPeriodValueReleasedfromPossibleRedemption`	$619.48M	USD	Point-in-time
Class A Common Stock redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$9.00K	USD	Point-in-time
Conversion of Common Stock from Class F to Class A at closing of the Business Combination	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Point-in-time
Common Stock issued as part of the Business Combination	`StockIssuedDuringPeriodValueAcquisitions`	$58.21M	USD	2 Qtrs
Common Stock issued as part of the Business Combination	`StockIssuedDuringPeriodValueAcquisitions`	$1.42B	USD	Point-in-time
Class A Common Stock issuance in private placement	`StockIssuedDuringPeriodValueNewIssues`	$355.00M	USD	Point-in-time
Earnout consideration issued as part of the Business Combination	`AdjustmentstoAdditionalPaidinCapitalEarnoutConsiderationIssuedasPartofBusinessCombination`	$149.70M	USD	Point-in-time
Non-compete consideration	`AdjustmentstoAdditionalPaidinCapitalNoncompeteConsideration`	$44.40M	USD	Point-in-time
Stock based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.85M	USD	2 Qtrs
Net income	`ProfitLoss`	$82.45M	USD	2 Qtrs
Changes in ownership interest adjustment	`MinorityInterestDecreaseFromRedemptions`	-	USD	Point-in-time
Changes in ownership interest adjustment	`NoncontrollingInterestIncreaseFromBusinessCombination`	-	USD	2 Qtrs
Changes in deferred tax liability	`AdjustmentstoAdditionalPaidinCapitalChangesinDeferredTaxLiability`	$-52.79M	USD	Point-in-time
Changes in deferred tax liability	`AdjustmentstoAdditionalPaidinCapitalChangesinDeferredTaxLiability`	$21.39M	USD	2 Qtrs
Balance at end of period	`NetParentInvestment`	-	USD	Point-in-time
Balance at end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.71B	USD	Point-in-time
Balance at end of period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.54B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.