Investor Presentation July 2018 TPG PACE ENERGY HOLDINGS has executed a definitive agreement to purchase EnerVest s South Texas division and will be renamed Magnolia Oil & Gas Corporation at closing. TPGE filed a definitive merger…
Introduction to Magnolia Oil & Gas Corporation 1 650 million IPO in May 2017 2 2.7 billion Asset Identified IPO at 10/unit; NYSE ticker of TPGE Steve Chazen and TPG partnered to form a On March 20, 2018, TPGE entered into publicly…
Focused on Traditional Value Creation Metrics A differentiated Independent E&P Company with the objective to generate stock market value over the long term, through: 1 Consistent organic production growth 2 High EBIT operating…
Developments Since Announcement TPGE will become MGY on July 31st following upcoming shareholder vote Magnolia is completing its transition from a SPAC to a standalone, independent oil & gas company Cumulative trading volume since…
Top Tier Eagle Ford & Austin Chalk Asset Position Entry into South Texas at an Attractive Price with 359,000 Net Acres Position Targeting Two of the Top Significant Running Room Oil Plays in the U.S. High-quality, low-risk pure-play…
Located in an Attractive Neighborhood Core position in Karnes County Oil Window adjacent to EOG and Marathon with 28 to 32/barrel breakevens(1) and less than 1-year new well paybacks (1) Source: RSEG. TPG PACE ENERGY HOLDINGS 7
Great Fit with Managements Value Creation Strategy Value Creation Strategy Magnolia Oil & Gas Build a large scale Core Karnes County acreage with some of the best economics focused business in the U.S(1) Generate cash flow well…
Focus on Maintaining High Full-Cycle Operating & EBIT Margins Benchmark Prices WTI (/bbl) 45.00 58.00 65.00 Henry Hub (/mcf) 2.75 2.75 2.75 Differentials Base case of 58 WTI oil Oil (/bbl) at time of announcement (1.33) (1.33)…
Summary Investment Highlights Why Own Magnolia Oil & Gas Premier Platform Positioned for Success Coveted position in core of Karnes County with industry leading breakevens between 28 - 32 per barrel(1) Emerging position in the…
Sources, Uses and Pro Forma Valuation Sources & Uses (Estimated) Post Transaction Ownership (Estimated)(1, 2) Sources Ann. Adj. Close (3) % At Announcement Adj. At Close (3) Ownership MM Equity to Seller 1,341 (131) 1,210 45% Public…
Attractive Compared to In-Basin and Business Model Comps Magnolia will be in a class of its own from a cash flow generation perspective... Legend 2018E Free Cash Flow Yield(1) 13.5% 10.2% 4.4% 5.0% 1.6% 1.2% 0.3% 0.1% Magnolia (6.0%)…
Better Than Expected 1Q18 Results Magnolia Q1 2018 Results(1) 2018E Projections 2018E Q1 2018 Karnes Giddings Total (3) (4) Base Case Sensitivity Cases Actual(1) Average Daily Production Index Oil Price ( / Bbl) 58.00 45.00 65.00…
Appendix Operational Information TPG PACE ENERGY HOLDINGS
Karnes County Core Eagle Ford and World Class Austin Chalk Key Asset Highlights Premier Position in the Core of the Eagle Ford World-class acreage footprint located in the core of the Eagle Ford, substantially de-risked 14,070 net…
Karnes County has some of the Top Economics in North America Results in Karnes County are some the best in North America Karnes Eagle Ford and Austin Chalk type curves produce 216,000 and 332,000 barrels of oil, respectively, in their…
Giddings Field Austin Chalk Redeveloping as an Emerging Play Giddings Asset Overview Lease Map Emerging, high-growth asset with extensive inventory potential and significant development flexibility 345,027 net acres, 99%+ HBP and 87%…
Giddings Early Results Indicate Large Development Potential Recent Giddings Results Magnolia Giddings Footprint 90 75 Cum. Oil Production (Mbo) 60 45 30 BROUSSARD - LIEBSCHER COOP 1 LILI MARLENE 2 15 MCMAHAN 2 NEVA 2…
Magnolia Asset Summary Free Cash Flow Positive Assets High quality assets allow for two self sustaining Karnes 2018E Asset Cash Flow Profile(1) operating areas ( in millions) 492 (221) Base case of 58 Karnes County WTI oil at time…
Magnolia to Partner with EnerVest to Operate Assets Karnes County Eagle Ford 30-Day IP(1) (Bopd) of Wells: 35 29 154 54 43 76 340 103 48 1,165 employees 1,400 Total 5 operating divisions Max Monthly IP 30 (Bopd) 1,200…
Production with Free Cash Flow Generation in 2018+ Conservative Rig Program Significant Production Online (Rigs) (Mboe/d) Magnolia Recent Acq.(1) 4.0 49.4 45.6 2.1 3.6 2.7 13% Organic Base Growth 47.3 41.9 2018E 2019E…
Karnes County Core Eagle Ford and Austin Chalk Karnes Overview Eagle Ford Play Heat Map 14,070 net acres (28,886 gross acres) 65% operated (87% WI in operated sections); 90% HBP 100% of the acreage is prospective for both Eagle…
Illustrative Fully Diluted Share Count Illustrative Share Price Share Counts in Millions 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00 TPGE - Public IPO Shares 65.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0 TPGE - Public PIPE…
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