Magnolia Oil & Gas prices $500M senior notes due 2034

Magnolia Oil & Gas Operating LLC and its subsidiary Magnolia Oil & Gas Finance Corp. have priced a private offering of $500 million in aggregate principal amount of 6.625% senior unsecured notes due 2034, according to a press release.

The closing of the offering is expected to occur on August 5, 2026, subject to customary closing conditions.

The company said it intends to use the net proceeds from the notes offering, along with proceeds from a Class A common stock offering by Magnolia Oil & Gas Corporation (NYSE: MGY) that closed on July 22, 2026, borrowings under its revolving credit facility, and cash on hand, to fund the acquisition of 100% of the issued and outstanding limited liability company interests of WildFire Intermediate Holdings, LLC from WildFire Energy I LLC.

The notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without an applicable exemption from registration requirements. The notes are being offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.

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

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