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Magnolia Oil & Gas CEO Chazen Steps Down; Cites Health Reasons

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   |    Wednesday,September 21,2022

Magnolia Oil & Gas Corp. announced that Christopher Stavros, the Company's current Executive Vice President and Chief Financial Officer, has been named President and Chief Executive Officer, and has been appointed to the Board of Directors, effective immediately.

Stephen Chazen, who has served as Chairman, President and Chief Executive Officer since 2018 will no longer be able to serve in his positions due to serious health reasons.

Mr. Stavros will continue to serve as the Company's Chief Financial Officer until a permanent successor is appointed.

About Stavros:

Prior to his appointment as President, Chief Executive Officer and member of the Board of Directors, Christopher Stavros served as the Company's Executive Vice President and Chief Financial Officer since Magnolia's inception. Mr. Stavros has 30 years of experience in the energy and financial industries. He most recently served as Senior Vice President and Chief Financial Officer of Occidental Petroleum Corporation. Mr. Stavros joined Occidental in 2005 and was named Chief Financial Officer in 2014 having previously served as Vice President, Investor Relations and Treasurer. Mr. Stavros retired from Occidental in May 2017. Prior to joining Occidental in 2005, Mr. Stavros was a Senior Analyst at UBS with coverage of the Oil and Gas sector.

Mr. Stavros received his BSBA from Boston University and received his MBA from the University of Rochester.