Magnolia Oil & Gas Closes Transformative WildFire Energy Deal
Magnolia Oil & Gas completed its acquisition of WildFire Energy for approximately $4.06 billion, adding 810,000 net acres and 53,000 boe/d of production in the Giddings area. The deal is expected to generate over $100M in annual synergies and improve free cash flow. Magnolia plans to reduce debt to achieve net debt-to-EBITDA below 1X by year-end 2027.