5 Aug 2026debt financing▲ GoodMajor
Closed a $500 million offering of 6.625% senior notes due 2034, helping fund the pending WildFire Energy acquisition.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 July 2026business combination▲ GoodMajor
Agreed to acquire WildFire Energy's Karnes County, Eagle Ford operator WildFire Intermediate Holdings for $2.65 billion cash plus 32,203,000 Magnolia shares and assumption of $600 million of WildFire's 7.5% notes due 2029 -- by far Magnolia's largest acquisition since its 2018 founding merger, subject to antitrust clearance.
26 Nov 2024debt financing▲ GoodMajor
Closed the previously announced $400 million offering of 6.875% senior notes due 2032.
13 Nov 2024material agreement▲ GoodMajor
Amended and restated its reserve-based revolving credit facility: maximum commitments up to $1.5 billion (initial borrowing base $800 million), maturing November 2029.
3 Aug 2020material agreement termination▲ GoodMajor
Gave notice terminating its Services Agreement with EnerVest Operating (an affiliate of EnerVest, which holds about 47.8% of Magnolia's stock), which had been paid $20-23.6 million a year plus per-well overhead to run day-to-day field and back-office operations -- Magnolia internalizing operations rather than continuing to pay its largest shareholder's affiliate for them.
25 July 2019listing compliance notice● NeutralMajor
Magnolia Oil & Gas Corp's exchange filed to remove a class of its securities from listing.
24 June 2019security holder rights change● Neutral
The amendment added the tax analysis, backed by an opinion filed as an exhibit, and it covers holders who do nothing as well as those who tender: if the warrant amendment passes, warrants left outstanding are treated as deemed exchanged for the amended ones, which can be a taxable event for a holder who never took the offer.
7 June 2019security holder rights change● Neutral
Magnolia offered warrant holders 0.29 Class A shares for each warrant tendered, and paired it with a consent solicitation: approve an amendment to the warrant agreement and the company can force every remaining warrant into shares at 0.261 - deliberately a tenth less - leaving no warrants outstanding. Holders who sit out have no appraisal rights and face a warrant that may lose its NYSE listing once most of the class is gone.
7 June 2019security holder rights change● NeutralMajor
Launched a tender offer and consent solicitation asking public/private warrant holders to exchange each warrant for 0.29 shares of Class A stock (or 0.261 shares if holders instead approve an amendment letting the company force conversion) -- a warrant cleanup left over from the 2017 SPAC IPO.
7 May 2019asset acquisition disposition▲ GoodMajor
Agreed to acquire additional Eagle Ford Shale and Austin Chalk oil and gas assets for cash plus 3,054,662 newly issued shares -- Magnolia's first bolt-on acquisition since its 2018 SPAC merger.
21 Aug 2018asset acquisition disposition▲ GoodMajor
Agreed to acquire substantially all of Harvest Oil & Gas Corp's South Texas assets for approximately million in cash plus 4.2 million newly issued Class A shares.
6 Aug 2018business combination▲ GoodMajor
TPG Pace Energy closed its purchase of EnerVest's Karnes County, Giddings and Ironwood Eagle Ford assets on 31 July 2018 for roughly $1.22 billion in cash plus stock, stopped being a shell and renamed itself Magnolia Oil & Gas. The sellers walked away with 49.9% of the company (31.8m Class A and 83.9m exchangeable Class B shares), so control effectively passed to them at closing; the cash came from a $355m private placement, a new Citibank-led revolver and $400m of senior notes.
2 Aug 2018listing compliance notice● NeutralMajor
Magnolia Oil & Gas Corp's exchange filed to remove a class of its securities from listing.
17 July 2018debt financing● NeutralMajor
Priced that $400 million senior notes offering shortly before the shareholder vote to close the EnerVest acquisition.
10 July 2018debt financing● NeutralMajor
Ahead of closing the EnerVest acquisition, launched a $400 million private offering of senior notes to help fund the deal.
2 July 2018business combination● NeutralMajor
The final version of the proxy was filed, setting the shareholder vote on the EnerVest deal for 2018-07-17 at 9:00 a.m. Eastern in New York. The deal terms match the May draft: about $308M cash for Giddings, about $2.09B for Karnes County and $25M cash for Ironwood. Public holders can redeem their shares for cash from the IPO trust account at closing. If the deal closes, the name changes to Magnolia Oil & Gas and the shares are intended to trade as MGY. This is a step toward closing, not the vote result.
10 May 2018business combination● NeutralMajor
TPG Pace Energy filed a draft (preliminary) proxy asking shareholders to vote on the EnerVest asset purchase agreed on 2018-03-20. Giddings would cost about $308M cash plus up to $47M of earnout to end-2021. Karnes County would cost about $2.09B, at least $610M of it cash and the rest stock, with up to 13,000,000 earnout shares over five years. Ironwood would cost $25M cash. The draft also proposes a new Class B stock, authorized Class A shares raised from 200M to 1.3B, a 35.5M-share private placement to help pay the cash, and a rename to Magnolia Oil & Gas Corporation. The meeting date is blank in this draft.
20 Mar 2018material agreement● Neutral
Amended the prior Current Report to add the required historical and pro forma financial statements for the pending EnerVest asset acquisition; no change to deal terms.
20 Mar 2018business combination▲ GoodMajor
TPG Pace Energy Holdings Corp agreed to acquire EnerVest affiliates' Karnes County and Giddings Field assets in the Eagle Ford, taking the combined company public as Magnolia Oil & Gas -- the deal that gave the SPAC its operating business.
10 May 2017capital raising announcement▲ GoodMajor
TPG Pace Energy Holdings Corp, the SPAC that would go on to become Magnolia Oil & Gas, completed its IPO of 65,000,000 units (including a partial over-allotment exercise) at $10 each.
4 May 2017listing compliance notice▲ GoodMajor
the New York Stock Exchange certified Magnolia Oil & Gas Corp's securities for listing, clearing them to begin trading.