Mergers & Acquisitions ·
Magnolia Oil & Gas Corporation entered into a definitive agreement to acquire WildFire Energy for approximately $4.06…
MGYMagnolia Oil & Gas Corp
Magnolia Oil & Gas Corporation entered into a definitive agreement to acquire WildFire Energy for approximately $4.06 billion. The consideration includes $2.65 billion in cash, 32,203,000 shares of Magnolia Class A common stock, and the assumption of $600 million in WildFire's 7.500% Senior Notes due 2029. The acquisition adds approximately 810,000 net acres in the Giddings field, including the Eagle Ford and Austin Chalk formations. To support the transaction, Magnolia amended its senior secured reserve-based revolving credit facility to a $2.25 billion maximum commitment and entered into a $1.50 billion senior unsecured bridge facility. The company also announced an immediate 9% increase in its quarterly dividend to $0.18 per share, payable in the third quarter of 2026. Magnolia Oil & Gas is an oil and gas exploration and production company.