Magnolia Oil & Gas Announces Acquisition Of Wildfire Energy
MGY•Magnolia Oil & Gas announces Wildfire Energy acquisition
July 20 (Reuters) - Magnolia Oil & Gas Corp MGY.N:
- Magnolia Oil & Gas announces acquisition of Wildfire Energy.
- Magnolia Oil & Gas Corp - to buy Wildfire Energy for $4.06 billion including debt.
- Magnolia Oil & Gas Corp - Wildfire owners to receive 32.2 million Magnolia shares; Magnolia assumes $600 million Wildfire notes.
- Magnolia Oil & Gas Corp - increases secured credit facility to $2 billion borrowing base, $1.75 billion commitments.
- Magnolia Oil & Gas Corp - expects over $100 million in annual synergies and cost savings from acquisition.
- Magnolia Oil & Gas Corp - increases quarterly dividend 9% to $0.18 per share payable in Q3 2026.
- Magnolia Oil & Gas Corp - raises FY2026 annual production growth guidance to 6% from 5%.
- Magnolia Oil & Gas says it expects the deal to be immediately, highly accretive to key per-share financial metrics including cash flow, free cash flow and earnings.
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