Magnolia completes WildFire acquisition update
- Magnolia Oil & Gas (NYSE:MGY) provided an operational update after completing its acquisition of WildFire Energy.
- The company ended Q3 2026 with approximately $1.9 billion in net debt and below 1x net debt to 2027E EBITDA at current strip prices.
- Magnolia expects the combined business to generate 4%–5% annual growth in oil volumes and total production, according to company projections.
Magnolia Oil & Gas (NYSE:MGY) provided an interim financial and operational update following the completion of its acquisition of WildFire Energy, highlighting integration progress, debt reduction and production plans.
The company reported approximately $1.9 billion in net debt at the end of the third quarter of 2026 and stated that leverage was below 1.0x net debt to 2027E EBITDA at current strip prices.
"The acquisition is an important new chapter for Magnolia in creating the premier Eagle Ford and Austin Chalk operator while enhancing our concentration of scale, adding high-quality durable resource opportunity, and providing operational efficiencies across a large, contiguous South Texas asset base," said Magnolia Oil & Gas Chairman, President and CEO Chris Stavros.
Magnolia sold non-core assets for $47.5 million and received 616 net acres in Gonzales County, while the company expects to realize at least one-third of estimated annual run-rate synergies above $100 million by year-end 2026.
Magnolia reported that third-quarter 2026 production is expected at 116–118 thousand barrels of oil equivalent per day (Mboe/d), with fourth-quarter production estimated at 159–161 Mboe/d after the acquisition.
The company stated that it expects 2027 oil volumes and total production to grow 4%–5% from its second-quarter 2026 pro forma production base, with estimated 2027 drilling and completion capital spending of $900 million–$950 million.
