Latham Advises on US$500 Million Senior Notes Offering by Magnolia Oil & Gas

Magnolia Oil & Gas Operating LLC and Magnolia Oil & Gas Finance Corp., subsidiaries of Magnolia Oil & Gas Corporation (Magnolia), have announced the pricing of their previously announced private offering of US$500 million aggregate principal amount of 6.625% senior unsecured notes due 2034. Magnolia intends to use the net proceeds from the offering, together with the net proceeds from Magnolia’s offering of Class A common stock, borrowings under Magnolia’s revolving credit facility, and cash on hand, to fund its previously announced acquisition of WildFire Intermediate Holdings, LLC.

Latham & Watkins LLP advised Magnolia on the transaction with a corporate deal team led by Austin/Houston partner David Miller, Houston partner Ryan Maierson, Austin partner Sam Rettew, and Chicago counsel Manasi Bhattacharyya, with associates Chelsea Carlson, Caroline Hughes, and Marvin Thiele. Advice was also provided on tax matters by Houston partner Bryant Lee, with associate Nathan Sauers; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associates Jacqueline Zhang and Kim Kooker; and on finance matters by Houston partner Trevor Wommack, with associates Govin Kaggal and Joanna Zhao.