Magnolia to buy WildFire for $4.06 billion

• Magnolia Oil & Gas agreed to acquire WildFire Energy for approximately $4.06 billion, including assumed debt.
• Magnolia increased its quarterly dividend by 9% to $0.18 per share after announcing the transaction.
• The company said the deal expands its South Texas acreage position and is expected to add more than $100 million in annual synergies.

Magnolia Oil & Gas (NYSE:MGY) agreed to acquire WildFire Energy for approximately $4.06 billion, including WildFire’s debt, expanding its South Texas oil and gas position.

The transaction adds about 810,000 net acres in Giddings, increasing Magnolia’s combined position to more than 1.25 million net acres across the Austin Chalk, Eagle Ford and Woodbine formations.

The deal includes WildFire’s $600 million of outstanding notes due in 2029, approximately 53,000 Boe/d of production and a 9% increase in Magnolia’s quarterly dividend to $0.18 per share.

Magnolia said the combined assets include more than 500 miles of gas gathering pipelines and a sand mine supplying about 80% of Magnolia’s annual sand consumption.

The company said it expects the acquisition to generate more than $100 million in annual synergies, while the transaction is expected to close late in the third quarter of 2026.