Magnolia Oil & Gas to Acquire WildFire Energy in $4.1 Billion Eagle Ford Shale Deal
Magnolia Oil & Gas has agreed to acquire WildFire Energy, a private oil and gas producer in East Texas' Eagle Ford Shale, in a transaction valued at approximately $4.06 billion including debt. The deal will more than double Magnolia's acreage in the Giddings field, adding about 810,000 net acres across the Eagle Ford and Austin Chalk plays, bringing total pro forma acreage to over 1.25 million net acres. WildFire's assets are expected to contribute around 53,000 barrels of oil equivalent per day (70% oil), increasing Magnolia's oil mix to roughly 50%. The purchase consideration includes 32.2 million Magnolia Class A common shares and assumption of $600 million in WildFire notes. Magnolia expects annual run-rate synergies exceeding $100 million by end of 2027. The transaction, unanimously approved by Magnolia's board, is expected to close in late Q3 2026. JP Morgan, Moelis & Company, and Citigroup advised Magnolia; Jefferies and BofA Securities advised WildFire.
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