Magnolia Oil & Gas to Acquire WildFire Energy for $4.06 Billion

The acquisition, which received unanimous approval from Magnolia’s board of directors, marks the exit of Warburg Pincus and Kayne Anderson from the platform they helped establish in 2019. Since its inception, WildFire Energy has expanded into one of the largest private oil and gas producers in the United States, currently generating 53,000 barrels of oil equivalent per day. Its portfolio spans roughly 810,000 net acres, distinguished by high capital efficiency and strong free cash flow generation.

WildFire CEO Anthony Bahr attributed the company's growth to disciplined operations and a series of strategic maneuvers, most notably the 2021 acquisition of Hawkwood Energy. For Magnolia, the deal secures a substantial inventory of underdeveloped assets that align with its existing South Texas footprint. The companies expect the transaction to close in late Q3 2026, pending standard regulatory reviews. Jefferies LLC and BofA Securities served as financial advisors for the sale, with legal counsel provided by Troutman Pepper Locke.