Magnolia Oil & Gas acquires WildFire Energy for $4.06 billion, doubling its Texas acreage

Type: Acquisition · Technology: Oil Gas · Country: United States · Value: $4.06B · Announced: 2026-08-14

Magnolia Oil & Gas Corp. has agreed to acquire WildFire Energy for approximately $4.06 billion, a deal that will more than double Magnolia's acreage in the Giddings Field in south Texas. The purchase price includes WildFire's debt and is subject to customary adjustments. This acquisition adds approximately 810,000 net acres, bringing Magnolia's total position in Giddings to over 1.25 million net acres. The transaction creates a premier, concentrated position with expanded high-quality resource development opportunities across the Austin Chalk, Eagle Ford, and Woodbine formations. WildFire owners will receive 32.2 million shares of Magnolia's class A common stock, and Magnolia will assume WildFire's $600 million in outstanding notes due in 2029. Magnolia intends to fund the remaining amount through cash on hand and a mix of debt and new common equity.

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