Magnolia Oil & Gas Corporation (NYSE: MGY) announced today that its Board of Directors raised the Company’s share repurchase authorization by an additional 10 million shares of Class A common stock. Including this additional authority, Magnolia currently has approximately 15.8 million shares available for repurchase under the authorization which pertains only to open market purchases for shares of Class A common stock. Any purchases by Magnolia of Class B units from EnerVest are approved separately by Magnolia’s board with these units cancelled upon execution.
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