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TPG Pace Energy Holdings Corp. Announces Closing of Business Combination with EnerVest's South Texas Division, Combined Company to be Named Magnolia Oil & Gas Corporation

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Magnolia to be Headquartered in Houston, Texas and Trade on the NYSE
Under the Ticker "MGY" Effective August 1, 2018

TPG Pace Energy Holdings Corp. (NYSE:TPGE, TPGE.U, TPGE WS)) ("TPGE,"
"Magnolia" or the "Company") announced today the completion of its
previously announced business combination with EnerVest, Ltd.'s South
Texas Division (the "business combination"). In connection with the
closing, TPGE has changed its name to Magnolia Oil & Gas Corporation and
expects its Class A Common Stock and Warrants to trade on the NYSE under
the ticker symbols "MGY" and "MGY WS," respectively, starting August 1,
2018. Magnolia will have its headquarters in Houston, Texas.

"We are happy to have completed our acquisition of EnerVest Ltd.'s South
Texas Division," said Steve Chazen, President, Chief Executive Officer
and Chairman of Magnolia. "We look forward to delivering on our
objective of maximizing shareholder returns by generating steady
production growth, strong pre-tax margins and significant free cash
flow."

Additionally, in connection with the closing, Chazen's long-time
colleague Christopher Stavros was appointed as the Company's Chief
Financial Officer. Most recently, Stavros served as Chief Financial
Officer of Occidental Petroleum Corporation. Chazen and Stavros share
the philosophy of generating attractive full-cycle returns while
maintaining a strong balance sheet with low leverage.

On or about August 14, 2018, Magnolia expects to file its quarterly
report on Form 10-Q for the quarter ended June 30, 2018 and to release
certain financial and operating results for the second quarter and first
half of 2018 of the assets Magnolia acquired in the business combination.

Forward-Looking Statements

The information in this press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All statements, other than statements of present or
historical fact included in this press release, regarding Magnolia's
strategy, future operations, financial position, estimated revenues, and
losses, projected costs, prospects, plans and objectives of management
are forward looking statements. When used in this press release, the
words "could," "should," "will," "may," "believe," "anticipate,"
"intend," "estimate," "expect," "project," the negative of such terms
and other similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain such
identifying words. These forward-looking statements are based on
management's current expectations and assumptions about future events
and are based on currently available information as to the outcome and
timing of future events. Except as otherwise required by applicable law,
Magnolia disclaims any duty to update any forward-looking statements,
all of which are expressly qualified by the statements in this section,
to reflect events or circumstances after the date of this press release.
Magnolia cautions you that these forward-looking statements are subject
to all of the risks and uncertainties, most of which are difficult to
predict and many of which are beyond the control of Magnolia, incident
to the development, production, gathering and sale of oil, natural gas
and natural gas liquids. In addition, Magnolia cautions you that the
forward-looking statements contained in this press release are subject
to the following factors: (i) the outcome of any legal proceedings that
may be instituted against Magnolia; (ii) Magnolia's ability to realize
the anticipated benefits of its business combination, which may be
affected by, among other things, competition and the ability of Magnolia
to grow and manage growth profitably; (iii) changes in applicable laws
or regulations; and (iv) the possibility that Magnolia may be adversely
affected by other economic, business, and/or competitive factors. Should
one or more of the risks or uncertainties described in this press
release occur, or should underlying assumptions prove incorrect, actual
results and plans could different materially from those expressed in any
forward-looking statements. Additional information concerning these and
other factors that may impact the operations and projections discussed
herein can be found in Magnolia's periodic filings with the SEC,
including its Annual Report on Form 10-K for the fiscal year ended
December 31, 2017 and the definitive proxy statement filed on July 2,
2018 by Magnolia in connection with the business combination. Magnolia's
SEC filings are available publicly on the SEC's website at www.sec.gov.

About Magnolia

Magnolia (MGY) is a publicly traded oil and gas exploration and
production company with South Texas operations in the core of the Eagle
Ford. Magnolia will focus on generating value for shareholders through
steady production growth and free cash flow. For more information, visit www.magnoliaoilgas.com.

About TPG Pace Group

TPG Pace Group is the TPG's dedicated permanent capital platform. TPG
Pace Group has a long-term, patient, and highly flexible investor base,
allowing it to seek compelling opportunities that will thrive in the
public markets. TPG Pace Group has sponsored three special purpose
acquisition companies ("SPACs") and has raised approximately $2 billion
since 2015. The first of these vehicles, Pace Holdings Corp., was used
to sponsor the public listing of Playa Hotels and Resorts in March of
2017 (NASDAQ:PLYA). The second of these vehicles, TPG Pace Energy
Holdings Corp., was used to sponsor the public listing of Magnolia in
July of 2018 (NYSE:MGY). The third of these vehicles, TPG Pace Holdings
Corp., raised $450 million in its June 2017 IPO and is currently seeking
targets for a business combination (NYSE:TPGH). For more information,
visit www.tpg.com/tpg-pace-holdings.

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