Deal expands Magnolia’s Eagle Ford acreage by 810,000 net acres and boosts daily production to 159,000 barrels of oil equivalent.
Magnolia Oil & Gas will purchase WildFire Energy for $4.06 billion, significantly expanding its position in the Eagle Ford and Austin Chalk regions of South Texas. The acquisition adds 810,000 net acres and increases pro forma production to approximately 159,000 barrels of oil equivalent per day.
The deal more than doubles Magnolia’s Giddings field acreage and is expected to materially lift proved developed reserves. The company anticipates at least $100 million in annual synergies by 2027 and plans to maintain shareholder returns, including a 9% dividend increase and ongoing share repurchases.
Management described the transaction as a strategic bolt-on, emphasizing operational overlap and financial attractiveness. The acquisition aligns with Magnolia’s long-standing criteria for resource upside and debt reduction over time.