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10-Q Filing

MAGNOLIA OIL & GAS CORP CIK: 1698990 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001698990-22-000024
Period End Date 20220331
Filing Date 20220510
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance mgy-20220331_htm.xml
Filing Contents
Balance Sheet 58 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $346.40M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $366.98M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $179.65M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $149.77M USD Point-in-time
Drilling advances DrillingAdvances $615.00K USD Point-in-time
Drilling advances DrillingAdvances $2.52M USD Point-in-time
Other current assets OtherAssetsCurrent $1.69M USD Point-in-time
Other current assets OtherAssetsCurrent $552.00K USD Point-in-time
Total current assets AssetsCurrent $517.92M USD Point-in-time
Total current assets AssetsCurrent $530.25M USD Point-in-time
Oil and natural gas properties OilAndGasPropertySuccessfulEffortMethodGross $2.38B USD Point-in-time
Oil and natural gas properties OilAndGasPropertySuccessfulEffortMethodGross $2.47B USD Point-in-time
Other OtherOilAndGasPropertySuccessfulEffortMethod $7.04M USD Point-in-time
Other OtherOilAndGasPropertySuccessfulEffortMethod $7.17M USD Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 16.22M shares Point-in-time
Accumulated depreciation, depletion and amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization $1.23B USD Point-in-time
Accumulated depreciation, depletion and amortization OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization $1.17B USD Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 14.17M shares Point-in-time
Total property, plant and equipment, net OilAndGasPropertySuccessfulEffortMethodNet $1.25B USD Point-in-time
Total property, plant and equipment, net OilAndGasPropertySuccessfulEffortMethodNet $1.22B USD Point-in-time
Deferred financing costs, net DebtIssuanceCostsLineOfCreditArrangementsNet $7.02M USD Point-in-time
Deferred financing costs, net DebtIssuanceCostsLineOfCreditArrangementsNet $3.70M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $9.04M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $8.85M USD Point-in-time
Total other assets AssetsNoncurrentExcludingOilAndGasPropertySuccessfulEffortMethodNet $15.87M USD Point-in-time
Total other assets AssetsNoncurrentExcludingOilAndGasPropertySuccessfulEffortMethodNet $12.74M USD Point-in-time
TOTAL ASSETS Assets $1.79B USD Point-in-time
TOTAL ASSETS Assets $1.75B USD Point-in-time
Accounts payable AccountsPayableCurrent $127.91M USD Point-in-time
Accounts payable AccountsPayableCurrent $134.65M USD Point-in-time
Other current liabilities (Note 7) OtherLiabilitiesCurrent $104.08M USD Point-in-time
Other current liabilities (Note 7) OtherLiabilitiesCurrent $90.64M USD Point-in-time
Total current liabilities LiabilitiesCurrent $238.73M USD Point-in-time
Total current liabilities LiabilitiesCurrent $218.54M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $388.65M USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $388.09M USD Point-in-time
Asset retirement obligations, net of current AssetRetirementObligationsNoncurrent $89.72M USD Point-in-time
Asset retirement obligations, net of current AssetRetirementObligationsNoncurrent $90.52M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $4.34M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $5.15M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $483.51M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $482.95M 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 $1.65B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.69B USD Point-in-time
Treasury Stock, at cost, 16,218 shares and 14,168 shares in 2022 and 2021, respectively TreasuryStockCommonValue $209.42M USD Point-in-time
Treasury Stock, at cost, 16,218 shares and 14,168 shares in 2022 and 2021, respectively TreasuryStockCommonValue $164.60M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-708.17M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-542.13M USD Point-in-time
Noncontrolling interest MinorityInterest $174.78M USD Point-in-time
Noncontrolling interest MinorityInterest $228.49M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $839.42M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.07B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $844.01M USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY LiabilitiesAndStockholdersEquity $1.79B USD Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY LiabilitiesAndStockholdersEquity $1.75B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Total revenues Revenues $377.84M USD 1 Quarter
Total revenues Revenues $209.11M USD 1 Quarter
Lease operating expenses OperatingLeaseExpense $28.74M USD 1 Quarter
Lease operating expenses OperatingLeaseExpense $19.39M USD 1 Quarter
Gathering, transportation and processing GasGatheringTransportationMarketingandProcessingCosts1 $10.24M USD 1 Quarter
Gathering, transportation and processing GasGatheringTransportationMarketingandProcessingCosts1 $15.84M USD 1 Quarter
Taxes other than income TaxesExcludingIncomeAndExciseTaxes $20.88M USD 1 Quarter
Taxes other than income TaxesExcludingIncomeAndExciseTaxes $10.76M USD 1 Quarter
Exploration expenses ExplorationExpense $5.54M USD 1 Quarter
Exploration expenses ExplorationExpense $2.06M USD 1 Quarter
Asset retirement obligations accretion AssetRetirementObligationAccretionExpense $789.00K USD 1 Quarter
Asset retirement obligations accretion AssetRetirementObligationAccretionExpense $1.33M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $53.11M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $42.94M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $2.11M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets - USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $17.07M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $20.36M USD 1 Quarter
Total operating expenses OperatingCostsAndExpenses $109.21M USD 1 Quarter
Total operating expenses OperatingCostsAndExpenses $141.97M USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $99.90M USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $235.87M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-9.36M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-7.29M USD 1 Quarter
Loss on derivatives, net DerivativeGainLossOnDerivativeNet $-482.00K USD 1 Quarter
Loss on derivatives, net DerivativeGainLossOnDerivativeNet - USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-229.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $207.00K USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-8.01M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-9.15M USD 1 Quarter
INCOME BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $226.72M USD 1 Quarter
INCOME BEFORE INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $91.89M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $18.10M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $399.00K USD 1 Quarter
NET INCOME ProfitLoss $91.49M USD 1 Quarter
NET INCOME ProfitLoss $208.62M USD 1 Quarter
LESS: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $28.25M USD 1 Quarter
LESS: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $42.58M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK NetIncomeLoss $166.04M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK NetIncomeLoss $63.24M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 182.58M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 166.95M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 169.64M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 183.16M shares 1 Quarter
Cash Flow Statement 71 line items
Line Item Tag Value Unit Period
Common stock, dividends, declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.20 USD Point-in-time
Common stock, dividends, declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.08 USD Point-in-time
Common stock, dividends, declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.20 USD 1 Quarter
NET INCOME ProfitLoss $91.49M USD 1 Quarter
NET INCOME ProfitLoss $208.62M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $53.11M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $42.94M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $2.11M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets - USD 1 Quarter
Asset retirement obligations accretion AssetRetirementObligationAccretionExpense $789.00K USD 1 Quarter
Asset retirement obligations accretion AssetRetirementObligationAccretionExpense $1.33M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $910.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $2.81M USD 1 Quarter
Unrealized loss on derivatives, net UnrealizedGainLossOnDerivatives $-482.00K USD 1 Quarter
Unrealized loss on derivatives, net UnrealizedGainLossOnDerivatives - USD 1 Quarter
Stock based compensation ShareBasedCompensation $2.88M USD 1 Quarter
Stock based compensation ShareBasedCompensation $2.71M USD 1 Quarter
Other OtherNoncashIncomeExpense - USD 1 Quarter
Other OtherNoncashIncomeExpense $84.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $25.67M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $29.88M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $6.74M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $11.50M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-13.00M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-2.45M USD 1 Quarter
Drilling advances IncreaseDecreaseinDrillingAdvances $1.90M USD 1 Quarter
Drilling advances IncreaseDecreaseinDrillingAdvances $-2.82M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $-605.00K USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $1.85M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $238.87M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $118.15M USD 1 Quarter
Acquisitions PaymentsToAcquireBusinessTwoNetOfCashAcquired $1.05M USD 1 Quarter
Acquisitions PaymentsToAcquireBusinessTwoNetOfCashAcquired $558.00K USD 1 Quarter
Additions to oil and natural gas properties PaymentsToAcquireOilAndGasPropertyAndEquipment $84.23M USD 1 Quarter
Additions to oil and natural gas properties PaymentsToAcquireOilAndGasPropertyAndEquipment $40.17M USD 1 Quarter
Changes in working capital associated with additions to oil and natural gas properties PaymentsToAcquireOilAndGasPropertyAndEquipmentChangesInWorkingCapital $-13.95M USD 1 Quarter
Changes in working capital associated with additions to oil and natural gas properties PaymentsToAcquireOilAndGasPropertyAndEquipmentChangesInWorkingCapital $1.74M USD 1 Quarter
Other investing PaymentsForProceedsFromOtherInvestingActivities $-131.00K USD 1 Quarter
Other investing PaymentsForProceedsFromOtherInvestingActivities $416.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-71.21M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-42.88M USD 1 Quarter
Non-compete settlement PaymentsForComplianceOfNonCompeteAgreement - USD 1 Quarter
Non-compete settlement PaymentsForComplianceOfNonCompeteAgreement $17.15M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock - USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $37.17M USD 1 Quarter
Cash paid for debt modification PaymentsOfDebtRestructuringCosts $5.27M USD 1 Quarter
Cash paid for debt modification PaymentsOfDebtRestructuringCosts - USD 1 Quarter
Distributions to noncontrolling interest owners PaymentsToMinorityShareholders $11.64M USD 1 Quarter
Distributions to noncontrolling interest owners PaymentsToMinorityShareholders $155.00K USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-1.27M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-5.95M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-89.64M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-188.25M USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-20.59M USD 1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-14.37M USD 1 Quarter
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $178.19M USD Point-in-time
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $366.98M USD Point-in-time
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $192.56M USD Point-in-time
Cash and cash equivalents Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $346.40M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $178.19M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $366.98M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $192.56M USD Point-in-time
Cash and cash equivalents End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $346.40M USD Point-in-time
Cash paid for income taxes IncomeTaxesPaidNet - USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $13.00M USD 1 Quarter
Cash paid for interest InterestPaidNet $12.44M USD 1 Quarter
Cash paid for interest InterestPaidNet $12.22M USD 1 Quarter
Accruals or liabilities for capital expenditures CapitalExpendituresIncurredButNotYetPaid $14.62M USD 1 Quarter
Accruals or liabilities for capital expenditures CapitalExpendituresIncurredButNotYetPaid $43.88M USD 1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $53.00K USD 1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $404.00K USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $839.42M USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.07B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $844.01M USD Point-in-time
Stock based compensation expense, net of forfeitures AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.88M USD 1 Quarter
Stock based compensation expense, net of forfeitures AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.71M USD 1 Quarter
Changes in ownership interest adjustment MinorityInterestPeriodIncreaseDecrease - USD 1 Quarter
Changes in ownership interest adjustment MinorityInterestPeriodIncreaseDecrease - USD 1 Quarter
Common stock issued related to stock based compensation and other, net AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $5.91M USD 1 Quarter
Common stock issued related to stock based compensation and other, net AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.24M USD 1 Quarter
Non-compete settlement AdjustmentsToAdditionalPaidInCapitalNoncompeteSettlement $-17.15M USD 1 Quarter
Conversion of Class B Common Stock to Class A Common Stock StockRedeemedOrCalledDuringPeriodValue - USD 1 Quarter
Conversion of Class B Common Stock to Class A Common Stock StockRedeemedOrCalledDuringPeriodValue - USD 1 Quarter
Distributions to noncontrolling interest owners MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $155.00K USD 1 Quarter
Distributions to noncontrolling interest owners MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $11.64M USD 1 Quarter
Dividends declared ($0.20 per share) DividendsCommonStock $37.28M USD 1 Quarter
Net income ProfitLoss $91.49M USD 1 Quarter
Net income ProfitLoss $208.62M USD 1 Quarter
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $839.42M USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.07B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $844.01M USD Point-in-time

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

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