Magnolia Oil & Gas Corporation Mourns the Passing of Former Chairman, President and Chief Executive Officer Stephen Chazen

Rhea-AI Summary

Magnolia Oil & Gas Corporation (NYSE: MGY) expresses deep sorrow over the passing of former Chairman, President, and CEO Stephen Chazen. His leadership significantly influenced the oil and gas sector, focusing on creating lasting shareholder value. Chazen was known for establishing industry trends rather than following them, and he maintained a close relationship with investors. His contributions extended beyond business to humanitarian efforts in education, healthcare, and environmental causes, leaving a significant legacy within the Houston community.

Positive

• Chazen's leadership contributed to establishing lasting shareholder value.
• He was recognized for his significant influence on the oil and gas industry.

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• None.

HOUSTON--(BUSINESS WIRE)-- It is with great sadness that Magnolia Oil & Gas Corporation (“Magnolia” or the “Company”) (NYSE: MGY) mourns the passing of former Chairman, President and Chief Executive Officer, Stephen Chazen.

On behalf of the entire Magnolia team, Chris Stavros, President and Chief Executive Officer, said, “We are greatly saddened by Steve’s passing, and extend our thoughts and sympathies to his family. As Magnolia’s founder, Steve has left an indelible mark on the Company, the oil and gas industry and the greater Houston community. Professionally, Steve had a profound impact on how E&P companies are managed with an objective of creating long-lasting shareholder value. He was the type of businessman who didn’t follow trends, but rather established trends. Steve always had a great affinity for investors and enjoyed interacting with them.

Steve’s significant professional accomplishments are exceeded only by his humanitarianism and philanthropic generosity that has touched the lives of countless individuals. He spent much of his non-business-related time focusing on areas he cared deeply for including education, health care and the environment. As much as Steve was a wonderful leader, he was an even greater person.”

Mr. Chazen served on the University of Houston System Board of Regents, as a director of the Houston Methodist Institute for Academic Medicine, on the Advisory Board at Rice University’s Baker Institute for Public Policy and the U.S. National Park Foundation. He is a former Chairman of the Board of the American Petroleum Institute and the Catalina Island Conservancy. Most recently, he served as Chairman of the Board of Occidental Petroleum Corporation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220923005298/en/

Investors

Brian Corales

(713) 842-9036

bcorales@mgyoil.com

Media

Art Pike

(713) 842-9057

apike@mgyoil.com

Source: Magnolia Oil & Gas Corporation

FAQ

What impact did Stephen Chazen have on Magnolia Oil & Gas Corporation?

Stephen Chazen's leadership greatly influenced Magnolia by focusing on long-lasting shareholder value and establishing industry trends.

What is the stock symbol for Magnolia Oil & Gas Corporation?

The stock symbol for Magnolia Oil & Gas Corporation is MGY.

When did Stephen Chazen pass away?

The press release does not specify the exact date of Stephen Chazen's passing.

Who is the current CEO of Magnolia Oil & Gas Corporation?

The current CEO of Magnolia Oil & Gas Corporation is Chris Stavros.

What philanthropic efforts was Stephen Chazen involved in?

Stephen Chazen focused on humanitarian efforts in education, healthcare, and environmental causes.