SurvivorEnergy
What Happened to Magnolia Oil & Gas?
Ticker: MGYSPAC Year: 2017Merger: 2018
Return
+209.2%
Current Price
$30.92
Peak Price
$31.21
Trust Size
$2.9B
Summary
Magnolia Oil & Gas is an independent oil and natural gas company with operations focused in the Eagle Ford Shale and Austin Chalk formations in South Texas.
What Happened
Magnolia went public in July 2018 through a SPAC (EnerVest Energy Institutional Fund XIV-A) that acquired approximately 360,000 net acres from EnerVest in the Karnes County area of the Eagle Ford Shale. The company has been one of the most successful SPAC-to-energy transitions, generating strong free cash flow, paying dividends, and buying back shares while maintaining a conservative balance sheet.
Timeline
2017-04-28
S-1 Registration Filed
2018-07-02
Merger Proxy Filed (DEFM14A)