Magnolia Oil & Gas Corporation’s $203.6 Million Common Stock Offering

Kirkland & Ellis advised Magnolia Oil & Gas Corp. on the offering, while Baker Botts represented Morgan Stanley.

Magnolia Oil & Gas Corp. (NYSE: MGY) announced the closing of the previously announced underwritten block trade of 7.5 million shares of the Company’s Class A common stock by certain affiliates of EnerVest, Ltd., resulting in total gross proceeds of $203.6 million.

Magnolia (MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. 

Morgan Stanley acted as the sole book-running manager for the Offering.

The Kirkland team was led by capital markets partners Matt Pacey (Picture) and Michael Rigdon and associates Billy Vranish, Kristin Kluding and Robbie Dillard; and tax partner David Wheat and associate Courtney Loyack.

The Baker Botts team included Doug Getten (Partner, Houston), Clint Rancher (Partner, Houston), Garrett Hughey (Senior Associate, Houston), Parker Hinman (Associate, Houston), Chandler Block (Associate, Houston), Jon Lobb (Partner, Houston), Jason Loden (Partner, Dallas), Luke Burns (Special Counsel, Houston), and Scott Janoe (Partner, Houston).

Involved fees earner: Chandler Block – Baker Botts LLP; Luke Burns – Baker Botts LLP; Doug Getten – Baker Botts LLP; Parker Hinman – Baker Botts LLP; Garrett Hughey – Baker Botts LLP; Scott Janoe – Baker Botts LLP; Jon Lobb – Baker Botts LLP; Jason Loden – Baker Botts LLP; Clint Rancher – Baker Botts LLP; Robbie Dillard – Kirkland & Ellis; Kristin Kluding – Kirkland & Ellis; Courtney Loyack – Kirkland & Ellis; Matthew Pacey – Kirkland & Ellis; Michael Rigdon – Kirkland & Ellis; Billy Vranish – Kirkland & Ellis; David Wheat – Kirkland & Ellis;

Law Firms: Baker Botts LLP; Kirkland & Ellis;

Clients: Magnolia Oil & Gas Corp; Morgan Stanley;