Magnolia Oil & Gas Corp - Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed on August 14, 2018, by Magnolia Oil & Gas Corporation. The filing discloses financial and operating results for the second quarter of 2018 (ended June 30, 2018) specifically for the Karnes County and Giddings Assets. These assets were acquired from affiliates of EnerVest, Ltd. on July 31, 2018.
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references the following exhibits containing the detailed data:
- Exhibit 99.1: Press release dated August 14, 2018, announcing the results.
- Exhibit 99.2: Unaudited condensed combined financial statements for the Karnes County Business as of June 30, 2018, and December 31, 2017, and for the three and six months ended June 30, 2018 and 2017.
- Exhibit 99.3: Unaudited statements of revenues and direct operating expenses for the Giddings Assets for the three and six months ended June 30, 2018 and 2017.
Material Changes
The primary material event reported is the acquisition of the Karnes County and Giddings Assets on July 31, 2018. The filing provides comparative financial data for these specific assets for the periods ended June 30, 2018, and June 30, 2017, to illustrate performance prior to the acquisition.
Guidance, Outlook, and Risks
The filing text does not contain specific management commentary, forward-looking guidance, or a detailed discussion of risks and contingencies. It explicitly states that the information furnished pursuant to Item 2.02 (including the press release) is not deemed "filed" for purposes of Section 18 of the Exchange Act and will not be incorporated by reference into other filings.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, production, and expense figures for Q2 2018.
- Analyze Exhibit 99.2 for the detailed balance sheet and income statement of the Karnes County Business.
- Examine Exhibit 99.3 for revenue and direct operating expense details of the Giddings Assets.
- Verify the impact of the July 31, 2018 acquisition on the Company's consolidated financial position in subsequent filings.