Overview
Magnolia Oil & Gas Corp. is an independent exploration and production company in the upstream oil and gas sector. It explores for and produces crude oil, natural gas, and natural gas liquids, with operations concentrated in South Texas, particularly the Karnes and Giddings areas. Its disclosed operating footprint is in Texas.[1][2][3]
For the year ended December 31, 2025, Magnolia reported approximately $1.312 billion in revenue.[4] At year-end, it had 262 employees, based in Houston and at field offices in Giddings and Gillett, Texas.[5] [1][2][3][4][5][3]
Products & services
Magnolia Oil & Gas produces three principal commodities: crude oil, natural gas and natural gas liquids (NGLs). Its production targets include the Eagle Ford Shale and Austin Chalk formations in South Texas. The company’s filings describe no branded products, detailed product grades or standalone customer service offerings.[6][7]
For the six months ended June 30, 2026, production mix was 40% oil, 31% natural gas and 29% NGLs; revenue mix was 75%, 11% and 14%, respectively. Magnolia sells its produced gas and NGLs to third-party processors, while its Karnes oil is gathered and delivered to refining markets under a crude-oil gathering agreement.[8][9] [6][7][8][9]
Geographic presence
Magnolia Oil & Gas’s operations are concentrated in South Texas, principally the Karnes and Giddings areas, where it targets the Eagle Ford Shale and Austin Chalk. Its Giddings-area assets are primarily in Brazos, Burleson, Fayette, Grimes, Lee, Milam, Robertson, and Washington Counties; its Karnes-area assets are primarily in DeWitt, Dimmit, Gonzales, Karnes, and Zavala Counties.[6][2][7]
At year-end 2025, before its WildFire acquisition, Magnolia reported 818,230 gross (613,360 net) leasehold acres: 738,880 gross (557,990 net) in Giddings and 79,350 gross (55,370 net) in Karnes. The company completed the WildFire acquisition on September 10, 2026; its transaction materials described about 810,000 net acres concentrated in Giddings, expanding the company’s position across the Austin Chalk, Eagle Ford, and Woodbine.[1][10][11]
At December 31, 2025, Magnolia reported 262 employees: 145 at its Houston headquarters and 117 in field offices in Giddings and Gillett, Texas. Its reports describe operations as predominantly in one U.S. geographic area and one reportable operating segment; they do not provide a geographic revenue split.[5][12][13] [6][2][7][1][10][11][5][12][13][10][11]
Business segments
Magnolia Oil & Gas reports one operating and reportable segment: the acquisition, development, exploration, and production of oil and natural gas properties. Accordingly, this segment represents approximately 100% of reported company revenue; the company does not report Karnes and Giddings as separate segments.[14][13][15]
Its operations are concentrated in South Texas, principally in the Karnes and Giddings areas, targeting the Eagle Ford Shale and Austin Chalk formations. These are operational areas, not separately reported segments.[7][2] [14][13][15][7][2]
Company history
Magnolia’s corporate predecessor, TPG Pace Energy Holdings Corp., was formed in 2017 by TPG Pace Group and Steve Chazen as an energy-focused acquisition company. In March 2018, it agreed to combine with EnerVest affiliates’ South Texas oil-and-gas business, with Chazen slated to lead the resulting company. The transaction closed on July 31, 2018; the company took the Magnolia Oil & Gas name, and its shares began trading on the NYSE the following day.[16][17][18]
In October 2020, Magnolia sold its 35% interest in Ironwood Eagle Ford Midstream. In September 2022, Christopher Stavros succeeded Chazen as president and CEO after Chazen became unable to serve for health reasons; Chazen died two days later.[18][19][20]
Magnolia expanded its Giddings position through acquisitions in 2023, including a deal announced in September for approximately 48,000 net acres, and a further purchase of approximately 27,000 net acres that closed in April 2024.[21][22][23] [18][22][16][17][19][20][21][23]
Sources
- Magnolia Oil & Gas Corp — Full financial report (2025 Y)
- www.magnoliaoilgas.com[3]
- Magnolia Oil & Gas Corp — Full financial report (2026 Q 2)
- www.magnoliaoilgas.com[10]
- www.magnoliaoilgas.com[11]
- www.sec.gov[16]
- www.magnoliaoilgas.com[17]
- Magnolia Oil & Gas Corp — Full financial report (2022 Y)[18]
- www.magnoliaoilgas.com[19]
- www.magnoliaoilgas.com[20]
- www.magnoliaoilgas.com[21]
- Magnolia Oil & Gas Corp — Full financial report (2023 Y)[22]
- www.magnoliaoilgas.com[23]
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