Magnolia Oil & Gas Says Certain Affiliates Of EnerVest Agreed To Sell 12M Shares Of Company's Class A Common Stock In Secondary Block Trade

Following the closing of the Block Trade and Class B Common Stock Purchase, the Selling Stockholders will own 4.16 million Class A and 10.957 million Class B shares of the Company, or approximately 7.6% of the total outstanding shares of the Company.

The Company has agreed to purchase from the Selling Stockholders 3 million shares of the Company's Class B common stock at a price per share equal to the price per share that the Selling Stockholders receive in the Block Trade.