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10-Q Filing

MAGNOLIA OIL & GAS CORP CIK: 1698990 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001698990-20-000020
Period End Date 20200331
Filing Date 20200511
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance q110-q2020_htm.xml
Filing Contents
Balance Sheet 58 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $146.49M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $182.63M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $105.78M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $77.74M USD Point-in-time
Drilling advances DrillingAdvances $863.00K USD Point-in-time
Drilling advances DrillingAdvances $299.00K USD Point-in-time
Other current assets OtherAssetsCurrent $4.51M USD Point-in-time
Other current assets OtherAssetsCurrent $4.15M USD Point-in-time
Total current assets AssetsCurrent $229.25M USD Point-in-time
Total current assets AssetsCurrent $293.22M USD Point-in-time
Oil and natural gas properties OilAndGasPropertySuccessfulEffortMethodGross $3.82B USD Point-in-time
Oil and natural gas properties OilAndGasPropertySuccessfulEffortMethodGross $2.05B USD Point-in-time
Other OtherOilAndGasPropertySuccessfulEffortMethod $3.09M USD Point-in-time
Other OtherOilAndGasPropertySuccessfulEffortMethod $3.39M USD Point-in-time
Accumulated depreciation, depletion and amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization $701.55M USD Point-in-time
Accumulated depreciation, depletion and amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization $844.25M USD Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 1.00M shares Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 2.00M shares Point-in-time
Total property, plant and equipment, net OilAndGasPropertySuccessfulEffortMethodNet $3.12B USD Point-in-time
Total property, plant and equipment, net OilAndGasPropertySuccessfulEffortMethodNet $1.21B USD Point-in-time
Deferred financing costs, net DebtIssuanceCostsLineOfCreditArrangementsNet $8.39M USD Point-in-time
Deferred financing costs, net DebtIssuanceCostsLineOfCreditArrangementsNet $7.81M USD Point-in-time
Equity method investment EquityMethodInvestments $19.73M USD Point-in-time
Equity method investment EquityMethodInvestments $20.17M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $20.23M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $23.85M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $4.46M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $3.78M USD Point-in-time
TOTAL ASSETS Assets $1.49B USD Point-in-time
TOTAL ASSETS Assets $3.47B USD Point-in-time
Accounts payable AccountsPayableCurrent $79.43M USD Point-in-time
Accounts payable AccountsPayableCurrent $86.15M USD Point-in-time
Other current liabilities (Note 7) OtherLiabilitiesCurrent $95.78M USD Point-in-time
Other current liabilities (Note 7) OtherLiabilitiesCurrent $84.55M USD Point-in-time
Total current liabilities LiabilitiesCurrent $170.70M USD Point-in-time
Total current liabilities LiabilitiesCurrent $175.21M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $389.83M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $390.15M USD Point-in-time
Asset retirement obligations, net of current AssetRetirementObligationsNoncurrent $97.01M USD Point-in-time
Asset retirement obligations, net of current AssetRetirementObligationsNoncurrent $93.52M USD Point-in-time
Deferred taxes, net DeferredIncomeTaxLiabilitiesNet $3.18M USD Point-in-time
Deferred taxes, net DeferredIncomeTaxLiabilitiesNet $77.83M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.48M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $903.00K USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $562.67M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $491.24M USD Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 9) CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 9) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.70B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.70B USD Point-in-time
Treasury Stock, at cost, 2,000 shares and 1,000 shares in 2020 and 2019, respectively TreasuryStockCommonValue $16.76M USD Point-in-time
Treasury Stock, at cost, 2,000 shares and 1,000 shares in 2020 and 2019, respectively TreasuryStockCommonValue $10.28M USD Point-in-time
Retained earnings (Accumulated deficit) RetainedEarningsAccumulatedDeficit $82.94M USD Point-in-time
Retained earnings (Accumulated deficit) RetainedEarningsAccumulatedDeficit $-1.14B USD Point-in-time
Noncontrolling interest MinorityInterest $285.70M USD Point-in-time
Noncontrolling interest MinorityInterest $952.48M USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY LiabilitiesAndStockholdersEquity $3.47B USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY LiabilitiesAndStockholdersEquity $1.49B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Total revenues Revenues $218.67M USD 1 Quarter
Total revenues Revenues $181.37M USD 1 Quarter
Lease operating expenses OperatingLeaseExpense $24.16M USD 1 Quarter
Lease operating expenses OperatingLeaseExpense $21.52M USD 1 Quarter
Gathering, transportation, and processing GasGatheringTransportationMarketingandProcessingCosts1 $8.02M USD 1 Quarter
Gathering, transportation, and processing GasGatheringTransportationMarketingandProcessingCosts1 $9.31M USD 1 Quarter
Taxes other than income TaxesExcludingIncomeAndExciseTaxes $14.40M USD 1 Quarter
Taxes other than income TaxesExcludingIncomeAndExciseTaxes $10.02M USD 1 Quarter
Exploration expense ExplorationExpense $556.43M USD 1 Quarter
Exploration expense ExplorationExpense $2.48M USD 1 Quarter
Impairment of oil and natural gas properties ImpairmentOfProvedOilAndGasProperties - USD 1 Quarter
Impairment of oil and natural gas properties ImpairmentOfProvedOilAndGasProperties $1.38B USD 1 Quarter
Asset retirement obligation accretion AssetRetirementObligationAccretionExpense $1.33M USD 1 Quarter
Asset retirement obligation accretion AssetRetirementObligationAccretionExpense $1.44M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $142.67M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $115.95M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $3.63M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $3.63M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $18.08M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $16.20M USD 1 Quarter
Transaction related costs BusinessCombinationAcquisitionRelatedCosts - USD 1 Quarter
Transaction related costs BusinessCombinationAcquisitionRelatedCosts $353.00K USD 1 Quarter
Total operating costs and expenses OperatingCostsAndExpenses $2.15B USD 1 Quarter
Total operating costs and expenses OperatingCostsAndExpenses $185.16M USD 1 Quarter
OPERATING INCOME (LOSS) OperatingIncomeLoss $33.52M USD 1 Quarter
OPERATING INCOME (LOSS) OperatingIncomeLoss $-1.96B USD 1 Quarter
Income from equity method investee IncomeLossFromEquityMethodInvestments $388.00K USD 1 Quarter
Income from equity method investee IncomeLossFromEquityMethodInvestments $440.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-7.42M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-6.76M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-472.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $1.00K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-7.03M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-6.79M USD 1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-1.97B USD 1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $26.49M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $3.77M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-75.83M USD 1 Quarter
NET INCOME (LOSS) ProfitLoss $-1.90B USD 1 Quarter
NET INCOME (LOSS) ProfitLoss $22.71M USD 1 Quarter
LESS: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-668.29M USD 1 Quarter
LESS: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $9.69M USD 1 Quarter
NET INCOME (LOSS) ATTRIBUTABLE TO CLASS A COMMON STOCK NetIncomeLoss $13.03M USD 1 Quarter
NET INCOME (LOSS) ATTRIBUTABLE TO CLASS A COMMON STOCK NetIncomeLoss $-1.23B USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 167.15M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 156.32M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 158.14M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 167.15M shares 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-1.90B USD 1 Quarter
Net income (loss) ProfitLoss $22.71M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $142.67M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $115.95M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $3.63M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $3.63M USD 1 Quarter
Exploration expense, non-cash NoncashExplorationExpense $555.19M USD 1 Quarter
Exploration expense, non-cash NoncashExplorationExpense $483.00K USD 1 Quarter
Impairment of oil and natural gas properties ImpairmentOfProvedOilAndGasProperties - USD 1 Quarter
Impairment of oil and natural gas properties ImpairmentOfProvedOilAndGasProperties $1.38B USD 1 Quarter
Asset retirement obligations accretion expense AssetRetirementObligationAccretionExpense $1.33M USD 1 Quarter
Asset retirement obligations accretion expense AssetRetirementObligationAccretionExpense $1.44M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $896.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $871.00K USD 1 Quarter
Deferred tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-74.65M USD 1 Quarter
Deferred tax expense (benefit) DeferredIncomeTaxExpenseBenefit $3.42M USD 1 Quarter
Stock based compensation ShareBasedCompensation $2.43M USD 1 Quarter
Stock based compensation ShareBasedCompensation $2.88M USD 1 Quarter
Other OtherNoncashIncomeExpense $447.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $393.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-5.01M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-28.03M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-16.55M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-29.95M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-6.73M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $6.73M USD 1 Quarter
Drilling advances IncreaseDecreaseinDrillingAdvances $563.00K USD 1 Quarter
Drilling advances IncreaseDecreaseinDrillingAdvances $599.00K USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $1.59M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $326.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $134.88M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $116.56M USD 1 Quarter
Acquisition of EnerVest properties PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisition of EnerVest properties PaymentsToAcquireBusinessesNetOfCashAcquired $-4.25M USD 1 Quarter
Acquisitions, other PaymentsToAcquireBusinessTwoNetOfCashAcquired $53.33M USD 1 Quarter
Acquisitions, other PaymentsToAcquireBusinessTwoNetOfCashAcquired $69.39M USD 1 Quarter
Additions to oil and natural gas properties PaymentsToAcquireOilAndGasPropertyAndEquipment $134.44M USD 1 Quarter
Additions to oil and natural gas properties PaymentsToAcquireOilAndGasPropertyAndEquipment $94.21M USD 1 Quarter
Other investing PaymentsForProceedsFromOtherInvestingActivities $-197.00K USD 1 Quarter
Other investing PaymentsForProceedsFromOtherInvestingActivities $200.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-163.80M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-183.31M USD 1 Quarter
Contributions from noncontrolling interest owners ProceedsFromMinorityShareholders $7.30M USD 1 Quarter
Contributions from noncontrolling interest owners ProceedsFromMinorityShareholders - USD 1 Quarter
Distributions to noncontrolling interest owners PaymentsToMinorityShareholders - USD 1 Quarter
Distributions to noncontrolling interest owners PaymentsToMinorityShareholders $284.00K USD 1 Quarter
Class A Common Stock repurchase PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Class A Common Stock repurchase PaymentsForRepurchaseOfCommonStock $6.48M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-452.00K USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-7.22M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $7.30M USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-36.14M USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-59.45M USD 1 Quarter
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $182.63M USD Point-in-time
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $135.76M USD Point-in-time
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $76.31M USD Point-in-time
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $146.49M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $182.63M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $135.76M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $76.31M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $146.49M USD Point-in-time
Cash paid for interest InterestPaidNet $12.57M USD 1 Quarter
Cash paid for interest InterestPaidNet $12.54M USD 1 Quarter
Accruals or liabilities for capital expenditures IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid $47.90M USD 1 Quarter
Accruals or liabilities for capital expenditures IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid $61.78M USD 1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability - USD 1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $2.52M USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $828.89M USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.71B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.72B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.73B USD Point-in-time
Stock based compensation expense, net of forfeitures AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.43M USD 1 Quarter
Stock based compensation expense, net of forfeitures AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.88M USD 1 Quarter
Changes in ownership interest adjustment and in deferred tax liability MinorityInterestPeriodIncreaseDecrease - USD 1 Quarter
Changes in ownership interest adjustment and in deferred tax liability MinorityInterestPeriodIncreaseDecrease $-87.00K USD 1 Quarter
Final settlement adjustment related to Business Combination SharesRedeemedDuringPeriodBusinessAcquisitionValue $25.25M USD 1 Quarter
Common stock issued related to stock based compensation, net AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $452.00K USD 1 Quarter
Class A Common Stock repurchase TreasuryStockValueAcquiredCostMethod $6.48M USD 1 Quarter
Contributions from noncontrolling interest owner NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $8.81M USD 1 Quarter
Distributions to noncontrolling interest owners MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $284.00K USD 1 Quarter
Net income (loss) ProfitLoss $-1.90B USD 1 Quarter
Net income (loss) ProfitLoss $22.71M USD 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $828.89M USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.71B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.72B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.73B USD Point-in-time

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

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