Magnolia Oil & Gas Corporation (MGY) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
NINE GREENWAY PLAZA HOUSTON, TX 77046 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1311 - Crude Petroleum and Natural Gas (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 401,121 | 675,441 | 366,982 | 192,561 | 182,633 | 135,758 | |||
| Cash and cash equivalents | 401,121 | 675,441 | 366,982 | 192,561 | 182,633 | 135,758 | |||
| Receivables | 189,705 | 170,770 | 149,769 | 81,559 | 105,775 | 140,284 | |||
| Other current assets | 435 | 1,052 | 1,427 | 3,601 | 4,511 | 4,058 | |||
| Other undisclosed current assets | 12 | 3,484 | 615 | 3,805 | 299 | 12,259 | |||
| Total current assets: | 591,273 | 850,747 | 518,793 | 281,526 | 293,218 | 292,359 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 7,737 | 4,035 | ✕ | ||||||
| Oil and gas, successful efforts method, property and equipment, after accumulated depreciation, depletion, amortization, and impairment | 2,052,021 | 1,533,029 | 1,216,087 | 1,149,527 | 3,116,757 | 3,073,204 | |||
| Long-term investments and receivables | 19,730 | 18,873 | |||||||
| Long-term investments | 19,730 | 18,873 | |||||||
| Intangible assets, net (including goodwill) | (44,400) | 9,346 | 23,851 | 38,356 | |||||
| Intangible assets, net (excluding goodwill) | (44,400) | 9,346 | 23,851 | 38,356 | |||||
| Deferred income tax assets | 90,358 | 162,792 | ✕ | ||||||
| Other noncurrent assets | 18,728 | 20,381 | 8,161 | 6,979 | 4,460 | ||||
| Other undisclosed noncurrent assets | 3,836 | 5,636 | 40,364 | 6,042 | 4,355 | 10,731 | |||
| Total noncurrent assets: | 2,164,943 | 1,721,838 | 1,227,949 | 1,171,894 | 3,173,188 | 3,141,164 | |||
| TOTAL ASSETS: | 2,756,216 | 2,572,585 | 1,746,742 | 1,453,420 | 3,466,406 | 3,433,523 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 193,212 | 202,846 | 127,909 | 62,626 | 79,428 | 196,357 | |||
| Accounts payable | 193,212 | 202,846 | 127,909 | 62,626 | 79,428 | ||||
| Other undisclosed accounts payable and accrued liabilities | 196,357 | ||||||||
| Asset retirement obligation | 1,004 | ||||||||
| Other liabilities | 121,675 | 137,427 | 90,636 | 66,323 | 95,780 | ||||
| Total current liabilities: | 314,887 | 340,273 | 218,545 | 128,949 | 175,208 | 197,361 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 392,839 | 390,383 | 388,087 | 391,115 | 389,835 | 388,635 | |||
| Long-term debt, excluding current maturities | 392,839 | 390,383 | 388,087 | 391,115 | 389,835 | 388,635 | |||
| Liabilities, other than long-term debt | 165,822 | 101,738 | 94,861 | 93,934 | 172,834 | 84,979 | |||
| Asset retirement obligations | 148,467 | 95,129 | 89,715 | 88,232 | 93,524 | 84,979 | |||
| Deferred income tax liabilities | 77,834 | ✕ | |||||||
| Other liabilities | 17,355 | 6,609 | 5,146 | 5,702 | 1,476 | ||||
| Other undisclosed noncurrent liabilities | 54,593 | ||||||||
| Total noncurrent liabilities: | 558,661 | 492,121 | 482,948 | 485,049 | 562,669 | 528,207 | |||
| Total liabilities: | 873,548 | 832,394 | 701,493 | 613,998 | 737,877 | 725,568 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,691,647 | 1,576,032 | 816,733 | 548,136 | 1,776,025 | 1,676,744 | |||
| Treasury stock, value | (538,445) | (329,512) | (164,599) | (38,958) | (10,277) | ||||
| Additional paid in capital | 1,743,930 | 1,719,875 | 1,689,500 | 1,712,544 | 1,703,362 | 1,641,237 | |||
| Retained earnings (accumulated deficit) | 486,162 | 185,669 | (708,168) | (1,125,450) | 82,940 | 35,507 | |||
| Equity, attributable to noncontrolling interest | 190,998 | 164,136 | 228,492 | 291,260 | 952,478 | 1,031,186 | |||
| Other undisclosed equity | 23 | 23 | 24 | 26 | 26 | 25 | |||
| Total equity: | 1,882,668 | 1,740,191 | 1,045,249 | 839,422 | 2,728,529 | 2,707,955 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,756,216 | 2,572,585 | 1,746,742 | 1,453,420 | 3,466,406 | 3,433,523 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,226,979 | 1,694,493 | 1,078,351 | 534,506 | 936,142 | |||
| Gross profit: | 1,226,979 | 1,694,493 | 1,078,351 | 534,506 | 936,142 | |||
| Operating expenses | (692,494) | (620,707) | (475,757) | (2,460,172) | (808,640) | |||
| Operating income (loss): | 534,485 | 1,073,786 | 602,594 | (1,925,666) | 127,502 | |||
| Nonoperating income (expense) | 15,327 | (16,899) | (34,027) | (22,657) | (27,737) | |||
| Other nonoperating income (expense) | 15,360 | 6,543 | 85 | 3,363 | (238) | |||
| Interest and debt expense | (3,628) | (3,541) | ||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 549,812 | 1,056,887 | 568,567 | (1,951,951) | 96,224 | |||
| Other undisclosed income from continuing operations before income taxes | 3,628 | 3,541 | ||||||
| Income (loss) from continuing operations before income taxes: | 549,812 | 1,056,887 | 568,567 | (1,948,323) | 99,765 | |||
| Income tax expense (benefit) | (107,208) | (6,638) | (8,851) | 79,340 | (14,760) | |||
| Income (loss) from continuing operations: | 442,604 | 1,050,249 | 559,716 | (1,868,983) | 85,005 | |||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 559,716 | (1,868,983) | 85,005 | ||
| Net income (loss): | 442,604 | 1,050,249 | 559,716 | (1,868,983) | 85,005 | |||
| Net income (loss) attributable to noncontrolling interest | (54,303) | (156,412) | (142,434) | 660,593 | (34,809) | |||
| Net income (loss) attributable to parent: | 388,301 | 893,837 | 417,282 | (1,208,390) | 50,196 | |||
| Undistributed earnings (loss) allocated to participating securities, basic | (4,345) | (8,204) | (2,789) | |||||
| Other undisclosed net loss available to common stockholders, basic | (2,763) | |||||||
| Net income (loss) available to common stockholders, basic: | 383,956 | 885,633 | 414,493 | (1,208,390) | 47,433 | |||
| Other undisclosed net income available to common stockholders, diluted | 3 | 19 | 14 | |||||
| Net income (loss) available to common stockholders, diluted: | 383,959 | 885,652 | 414,507 | (1,208,390) | 47,433 | |||
Comprehensive Income ($ in thousands)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 442,604 | 1,050,249 | 559,716 | (1,868,983) | 85,005 | |||
| Comprehensive income (loss): | 442,604 | 1,050,249 | 559,716 | (1,868,983) | 85,005 | |||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (54,303) | (156,412) | (142,434) | 660,593 | (34,809) | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 388,301 | 893,837 | 417,282 | (1,208,390) | 50,196 | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.