Magnolia Oil & Gas Corporation ("Magnolia") announced today that it has commenced an underwritten public offering (the "Offering") of $1,000,000,000 of shares of its Class A common stock ("Common Stock"). Additionally, Magnolia intends to grant the underwriters a 30-day option to purchase up to an additional $150,000,000 of shares of its Common Stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

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