Magnolia Oil & Gas to acquire WildFire Energy for $4.06 billion

Magnolia Oil & Gas Corporation (NYSE: MGY) has agreed to acquire WildFire Energy from Warburg Pincus and Kayne Anderson for approximately $4.06 billion, according to a press release from the sellers. Magnolia's board of directors unanimously approved the transaction.

WildFire Energy is an independent oil and gas company headquartered in Houston, Texas, focused on assets in the Austin Chalk, Eagle Ford, and Woodbine formations of South Texas. The company was formed in 2019 through a partnership between Warburg Pincus, Kayne Anderson, and WildFire's management team, and later expanded through the acquisition of Hawkwood Energy in 2021. WildFire currently produces 53 thousand barrels of oil equivalent per day, approximately 70% of which is oil, across roughly 810,000 net acres.

Anthony Bahr, Chief Executive Officer of WildFire, said the transaction "positions the asset for continued success" and expressed appreciation for the support of both Warburg Pincus and Kayne Anderson.

The transaction is subject to customary closing conditions and regulatory approvals, with an anticipated closing in late third-quarter 2026.

Jefferies LLC and BofA Securities, Inc. served as financial advisors to WildFire, while Troutman Pepper Locke acted as its legal advisor.

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