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TPGE Announces $2.66B Business Combination With EnerVest’s South Texas Division

Vinson & Elkins advised TPG Pace Energy Holdings Corp. (“TPGE”) in its definitive agreements with certain funds managed by EnerVest, Ltd (“EnerVest”) to acquire the oil and gas assets within EnerVest’s South Texas Division for approximately $2.66 billion in cash and stock. As part of the transaction, TPGE and EnerVest are partnering to create Magnolia Oil & Gas Corporation.

The formation of Magnolia creates a large-scale, pure-play South Texas operator with top-tier Eagle Ford and Austin Chalk asset positions with more than 40,000 boe per day of production.

The V&E team was led by partners Keith Fullenweider and John Grand with assistance from partners Doug McWilliams, David Wicklund and Mark Brazzil and associates Danielle Patterson, Benji Barron and Robert Hughes.

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