Magnolia to Acquire WildFire Energy in $4.06B Deal


   
   HOUSTON, TX (DTN)-- Magnolia Oil & Gas Corporation has announced a 
definitive purchase agreement to acquire WildFire Energy for nearly $4.06 
billion, inclusive of WildFire's debt and subject to customary purchase price 
adjustments.

   The acquired assets produce approximately 53,000 barrels of oil equivalent 
per day, with a roughly 70% oil weighting and a 29% base oil decline rate. 
Magnolia anticipates more than $100 million in annual synergies with an 
estimated net present value of roughly $700 million, according to a company 
statement released Monday (7/20).

   The deal adds roughly 810,000 net acres in the Giddings area, bringing 
Magnolia's pro forma position there to more than 1.25 million net acres and 
establishing what the company calls a premier position in South Texas spanning 
the Austin Chalk, Eagle Ford and Woodbine formations.

   The deal includes a sand mine supplying roughly 80% of Magnolia's annual 
sand needs and over 500 miles of gas gathering pipelines. Alongside the 
announcement, Magnolia raised its full-year 2026 standalone production growth 
guidance to 6%.




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