Magnolia Oil & Gas to buy WildFire Energy for $4.06 billion
MGY•Synergies and dividend increase
Magnolia targets more than $100 million in annual synergies.
The company also said its quarterly dividend will rise 9% to $0.18 per share in Q3 2026.
Deal expands Giddings position and adds production
The transaction adds about 810,000 net acres. Magnolia said its pro forma Giddings position will exceed 1.25 million net acres across the Austin Chalk, Eagle Ford and Woodbine.
WildFire assets contribute about 53,000 Boe/d of output, roughly 70% oil, and the base oil decline rate is estimated at 29%.
Magnolia to acquire WildFire Energy in $4.06 billion deal
Magnolia Oil & Gas said it will acquire WildFire Energy for about $4.06 billion, including WildFire’s debt, in a deal that more than doubles its Giddings acreage.
Consideration includes 32 million Magnolia Class A shares. Magnolia will also assume WildFire’s $600 million notes due 2029.
