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Magnolia Oil & Gas Operating LLC

Company Summary

Description

Following completion of the business combination, Magnolia (MGY) will be a publicly traded oil and gas exploration and production company with South Texas operations in the core of the Eagle Ford. Magnolia will focus on generating value for shareholders through steady production growth and free cash flow.

Website

https://www.tpg.com/tpg-pace-holdings

Operational Regions

  • Eagle Ford

Related Entities

Recent news

  • 7/18/2018 - Magnolia Oil & Gas... (subscriber access)
  • 7/11/2018 - Magnolia Oil & Gas... (subscriber access)

Company Transactions

Date: 8/1/2018
Type: Acquisition

BUYERS:
  • Magnolia Oil & Gas Corporation
  • Magnolia Oil & Gas Operating LLC
    • SELLERS:
  • Enervest Ltd.
    • DETAILS:

    COST: 2.66 $B

    VOLUMES: 40 MBOE/d

    ACRES: 360000 Acres

    NOTES:
    As part of the deal, EnerVest and TPG are partnering to launch Magnolia Oil & Gas Corp., which will be led by TPG CEO Steve Chazen. Magnolia will hold 40 Mboe/d in Eagle Ford and Austin Chalk production on 360,000 total net acres in South Texas. The acreage includes 14,000 net acres in Karnes County and 345,000 net acres in the high-potential Giddings Field.
    REGIONS:
  • Eagle Ford