Stephen Chazen, the former chief executive of Magnolia Oil & Gas Corp., has passed away, the independent exploration and production company (E&P) said Friday.

Chazen, who led the company since its inception four years ago, stepped down from his position only two days prior to his death, citing serious health reasons.

“We are greatly saddened by Steve’s passing, and extend our thoughts and sympathies to his family,” said recently appointed CEO Chris Stavros. “As Magnolia’s founder, Steve has left an indelible mark on the company, the oil and gas industry and the greater Houston community.”

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