14 Aug 2018quarterly activities report● Neutral
Magnolia Oil & Gas Corp reported quarterly revenue of $200.0 million and net income of $86.4 million for the period ended 2018-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Aug 2018securities registration● Neutral
Magnolia Oil & Gas Corp registered a securities offering with the SEC using its shelf eligibility.
10 Aug 2018director interest notice● Neutral
John B Walker became a Magnolia Oil & Gas Corp director and company insider (initial ownership filing).
10 Aug 2018director interest notice● Neutral
Enervest, LTD. became a Magnolia Oil & Gas Corp 10%+ owner and company insider (initial ownership filing).
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 2018director interest notice● Neutral
Magnolia Oil & Gas Corp VP - CAO & Controller Valerie Chase received 11,000 shares and a 11,000-share option grant as part of the equity award.
2 Aug 2018listing compliance notice● NeutralMajor
Magnolia Oil & Gas Corp's exchange filed to remove a class of its securities from listing.
2 Aug 2018director interest notice● Neutral
Magnolia Oil & Gas Corp Executive VP, CFO & Secretary Christopher G Stavros received 112,500 shares and a 112,500-share option grant as part of the equity award.
1 Aug 2018director interest notice● Neutral
Magnolia Oil & Gas Corp Chairman, President & CEO Stephen I Chazen received 1,500,000 shares as part of the equity award.
17 July 2018agm notice● Neutral
Magnolia Oil & Gas Corp shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
17 July 2018debt financing● NeutralMajor
Priced that $400 million senior notes offering shortly before the shareholder vote to close the EnerVest acquisition.
10 July 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
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.
10 July 2018substantial holder notice● Neutral
Integrated Assets II LLC, Integrated Assets, Ltd, Millennium International Management LP, Millennium Management LLC, Millennium Group Management LLC, Israel A. Englander disclosed a new substantial Magnolia Oil & Gas Corp shareholding (5.20% of votes).
9 July 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
3 July 2018agm notice● Neutral
Magnolia Oil & Gas Corp shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
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.
2 July 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
18 June 2018substantial holder notice● Neutral
Encompass Capital Advisors LLC, Encompass Capital Partners LLC, Todd J. Kantor disclosed a new substantial Magnolia Oil & Gas Corp shareholding (6.20% of votes).
30 May 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
16 May 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
15 May 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
14 May 2018quarterly activities report● Neutral
Magnolia Oil & Gas Corp reported quarterly revenue of $172.3 million and net income of $85.4 million for the period ended 2018-03-31.
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 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
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.
20 Mar 2018agm notice● Neutral
Magnolia Oil & Gas Corp announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
13 Feb 2018substantial holder notice● Neutral
David Bonderman, James G. Coulter disclosed a new substantial Magnolia Oil & Gas Corp shareholding (28.60% of votes).
12 Feb 2018substantial holder notice● Neutral
Davidson Kempner Partners, Davidson Kempner Institutional Partners, L.P, Davidson Kempner International, Ltd, Davidson Kempner Capital Management LP, Thomas L. Kempner, Jr, Anthony A. Yoseloff reported a Magnolia Oil & Gas Corp shareholding of 3,796,600 shares (5.84% of votes) in a periodic institutional filing.