Magnolia Oil & Gas to acquire WildFire Energy for $4 billion

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3▲1 ▼0Impact / 5
Summary · why it matters

Magnolia Oil & Gas Corporation announced a definitive agreement to acquire private equity-backed WildFire Energy for approximately $4 billion. The transaction, unanimously approved by Magnolia's board, is expected to expand its South Texas position and more than double its footprint in the Giddings field. WildFire, founded in 2019 with backing from Warburg Pincus and Kayne Anderson, produces about 53,000 barrels of oil equivalent per day across roughly 810,000 net acres, with approximately 70% of production weighted toward oil. The deal is expected to close in the third quarter.

Impact on assets 1

Energy▲
Magnolia Oil & Gas Corp
MGY
▲ PositiveCapitalrelevance

Magnolia acquires WildFire Energy for $4B, expanding its South Texas position and doubling Giddings field footprint.

Off-coverage companies 3

WildFire Energyi
Private± MixedCapitalrelevance

WildFire Energy is being acquired; impact on the private company itself is not specified.

Kayne Andersoni
Private▲ PositiveCapitalrelevance

Kayne Anderson, as a backer of WildFire, likely receives proceeds from the acquisition.

Warburg Pincusi
Private▲ PositiveCapitalrelevance

Warburg Pincus, as a backer of WildFire, likely receives proceeds from the acquisition.