Magnolia Oil & Gas plans $500M notes offering for acquisition

Magnolia Oil & Gas Operating LLC and its subsidiary Magnolia Oil & Gas Finance Corp. announced a proposed private placement of $500 million in senior unsecured notes due 2034, according to a press release.

The notes offering is intended to help fund the acquisition of 100% of the limited liability company interests of WildFire Intermediate Holdings, LLC from WildFire Energy I LLC. Additional funding for the acquisition is expected to come from a concurrent Class A common stock offering by Magnolia Oil & Gas Corporation (NYSE: MGY), borrowings under a revolving credit facility, and cash on hand.

The stock offering is expected to close on July 22, 2026, subject to customary closing conditions.

The notes will not be registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The offering is subject to market conditions and other factors.

Magnolia Oil & Gas is an oil and gas exploration and production company with operations primarily in South Texas in the Eagle Ford Shale and Austin Chalk formations.

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