Does grignard reagent react with oxygen? Does this reaction actually take place -

$$\ce{C2H5MgCl + O2 -&gt;[H2O] C2H5OH}$$

I never saw this kind of a reaction. I thought that grignard reagent might take a proton from water and just form ethane.
This paper says it does and notes that while the yield of alcohols from aliphatic Grignards is 60-90%, formation of phenols is much less satisfactory. Other methods exist for the formation of phenols from aryl organometallics with much better yields.