$MGY
Magnolia Oil & Gas Corp

2017 Q4 Form 10-K Financial Statement

#000156459018002110 Filed on February 14, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3
Revenue $125.0M $0.00
YoY Change
Cost Of Revenue $12.60M $10.20M
YoY Change
Gross Profit $112.4M $76.40M
YoY Change
Gross Profit Margin 89.92%
Selling, General & Admin $7.500M $10.80M
YoY Change
% of Gross Profit 6.67% 14.14%
Research & Development $300.0K $100.0K
YoY Change
% of Gross Profit 0.27% 0.13%
Depreciation & Amortization $40.90M $88.80M
YoY Change
% of Gross Profit 36.39% 116.23%
Operating Expenses $48.80M $38.00M
YoY Change
Operating Profit $63.60M -$327.6K
YoY Change
Interest Expense -$9.300M -$1.700M
YoY Change
% of Operating Profit -14.62%
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income $54.30M $1.030M
YoY Change
Income Tax $567.9K $360.3K
% Of Pretax Income 1.05% 35.0%
Net Earnings $614.2K $669.2K
YoY Change
Net Earnings / Revenue 0.49%
Basic Earnings Per Share
Diluted Earnings Per Share $330.0K $229.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $1.000M
YoY Change
Cash & Equivalents $851.5K $956.0K
Short-Term Investments
Other Short-Term Assets $300.0K $200.0K
YoY Change
Inventory
Prepaid Expenses $142.3K $182.0K
Receivables $100.5M
Other Receivables $13.70M
Total Short-Term Assets $993.7K $1.138M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.566B
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $8.900M $651.6M
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $652.9M $651.6M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $993.7K $1.138M
Total Long-Term Assets $652.9M $651.6M
Total Assets $653.9M $652.7M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.50M $400.0K
YoY Change
Accrued Expenses $846.1K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.805M $1.229M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.100M $22.80M
YoY Change
Total Long-Term Liabilities $7.100M $22.80M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.805M $1.229M
Total Long-Term Liabilities $7.100M $22.80M
Total Liabilities $24.55M $23.98M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $1.532M $918.0K
YoY Change
Common Stock $3.466M $4.080M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.000M $5.000M
YoY Change
Total Liabilities & Shareholders Equity $653.9M $652.7M
YoY Change

Cashflow Statement

Concept 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $614.2K $669.2K
YoY Change
Depreciation, Depletion And Amortization $40.90M $88.80M
YoY Change
Cash From Operating Activities $64.30M $193.2M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$59.20M -$188.2M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $400.0K $582.6M
YoY Change
Cash From Investing Activities -$58.80M $394.4M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.500M -589.3M
YoY Change
NET CHANGE
Cash From Operating Activities 64.30M 193.2M
Cash From Investing Activities -58.80M 394.4M
Cash From Financing Activities -5.500M -589.3M
Net Change In Cash 0.000 -1.700M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $64.30M $193.2M
Capital Expenditures -$59.20M -$188.2M
Free Cash Flow $123.5M $381.4M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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PrepaidExpenseCurrent
142276
CY2017Q4 us-gaap Assets Current
AssetsCurrent
993742
CY2017Q4 us-gaap Cash
Cash
851466
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Trading Symbol
TradingSymbol
TPGE
CY2017Q2 dei Entity Public Float
EntityPublicFloat
632126000
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Registrant Name
EntityRegistrantName
TPG Pace Energy Holdings Corp.
dei Entity Central Index Key
EntityCentralIndexKey
0001698990
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2017Q4 us-gaap Assets
Assets
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CY2017Q4 us-gaap Accrued Liabilities And Other Liabilities
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CY2017Q4 us-gaap Taxes Payable Current
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CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2017Q4 us-gaap Registration Payment Arrangement Maximum Potential Consideration
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CY2017Q4 us-gaap Liabilities
Liabilities
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CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2017Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q4 us-gaap Liabilities And Stockholders Equity
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653937462
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2017Q4 us-gaap Preferred Stock Shares Authorized
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CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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us-gaap Revenues
Revenues
0
tpge Professional Fees And Other Expenses
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us-gaap Travel And Entertainment Expense
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us-gaap Taxes And Licenses
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us-gaap Operating Income Loss
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us-gaap Interest Income Expense Net
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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StockholdersEquity
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us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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tpge Adjustments To Additional Paid In Capital Stock Deferred Offering Costs
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1424561
tpge Deferred Underwriting Compensation
DeferredUnderwritingCompensation
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tpge Stock Issued During Period Capitalization Value Forfeited To Additional Paid In Capital
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tpge Stockholders Equity Reclassification To From Temporary Equity Value
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-624382630
us-gaap Net Income Loss Available To Common Stockholders Basic
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1532195
us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
359823
us-gaap Investment Income Interest
InvestmentIncomeInterest
3646151
tpge Proceeds From Restricted Investments Interest Received
ProceedsFromRestrictedInvestmentsInterestReceived
807000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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236317
us-gaap Increase Decrease In Restricted Cash And Investments
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
650000000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
15000000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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us-gaap Proceeds From Payments For Other Financing Activities
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-1409851
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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tpge Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
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CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
851466
us-gaap Income Taxes Paid
IncomeTaxesPaid
807000
tpge Accrued Offering Cost
AccruedOfferingCost
14710
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Concentration of Credit Risk </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. </p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Use of Estimates </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S.&#160;GAAP requires the Company&#8217;s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p></div>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-02-14
tpge Public Offering Closing Date
PublicOfferingClosingDate
2017-05-10
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CY2017Q2 us-gaap Proceeds From Issuance Of Private Placement
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tpge Trust Account Interest Withdrawal Annual Limit To Fund Working Capital And Tax Payment
TrustAccountInterestWithdrawalAnnualLimitToFundWorkingCapitalAndTaxPayment
750000
tpge Trust Account Threshold For Release Of Funds
TrustAccountThresholdForReleaseOfFunds
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tpge Remaining Proceeds Held Outside Trust Account For Debt Repayment And Fees Expenses
RemainingProceedsHeldOutsideTrustAccountForDebtRepaymentAndFeesExpenses
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CY2017Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2017Q4 us-gaap Minimum Net Worth Required For Compliance
MinimumNetWorthRequiredForCompliance
5000001
tpge Term For Completion Of Business Acquisition
TermForCompletionOfBusinessAcquisition
The Company has 24 months from the Close Date to complete its Business Combination. If the Company does not complete a Business Combination within this period, it shall (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds in the Trust Account and not previously released to the Company to fund its working capital requirements, subject to an annual limit of $750,000, and/or to pay its taxes (less up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining stockholders and the board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. The Company’s Sponsor and four independent directors (collectively, “Initial Stockholders”) and the Company’s officers and directors have entered into a letter agreement with the Company, pursuant to which they have waived their rights to liquidating distributions from the Trust Account with respect to their Founder Shares (as defined in Note 4) if the Company fails to complete the Business Combination within 24 months from the Close Date.
CY2017Q4 tpge Working Capital
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35750000
CY2017Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Income Tax Examination Penalties And Interest Expense
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Assets
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2017Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
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us-gaap Underwriting Commitments
UnderwritingCommitments
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CY2017Q1 tpge Professional Fees And Other Expenses
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CY2017Q2 us-gaap Interest Income Expense Net
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IncomeTaxExpenseBenefit
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CY2017Q4 us-gaap Income Tax Expense Benefit
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CY2017Q2 us-gaap Net Income Loss
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CY2017Q3 us-gaap Net Income Loss
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CY2017Q4 us-gaap Net Income Loss
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CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
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CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
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CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2017Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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