Magnolia Oil & Gas launches $1B stock offering for acquisition

Magnolia Oil & Gas Corporation (NYSE: MGY) has launched an underwritten public offering of $1 billion in Class A common stock, with an option for underwriters to purchase up to an additional $150 million in shares within 30 days.

According to a press release, the company intends to use proceeds from the offering, combined with new senior notes, borrowings under its revolving credit facility, and cash on hand, to fund its pending acquisition of 100% of the limited liability company interests of WildFire Intermediate Holdings, LLC from WildFire Energy I LLC.

J.P. Morgan and Goldman Sachs & Co. LLC are serving as joint book-running managers for the offering, alongside Citigroup, Wells Fargo Securities, BofA Securities, Capital One Securities, Fifth Third Securities, KeyBanc Capital Markets, MUFG, PNC Capital Markets LLC, Regions Securities LLC, Scotiabank, and Truist Securities.

The offering is being made under a shelf registration statement on Form S-3 that became effective upon filing with the Securities and Exchange Commission on July 20, 2026. Completion of the offering remains subject to market and other conditions.

Magnolia is an oil and gas exploration and production company with operations primarily in South Texas, focused on the Eagle Ford Shale and Austin Chalk formations.

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