Magnolia Oil & Gas Emerges as Frontrunner to Acquire WildFire Energy for Over $4 Billion
Magnolia Oil & Gas Corp. has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion, according to people familiar with the matter. The Houston-based shale producer is poised to win the auction for the driller backed by private equity firms Warburg Pincus and Kayne Anderson, the sources said. The transaction would rank as Magnolia’s largest acquisition to date.
A deal announcement is expected within weeks, though specific details have not been made public. Magnolia’s potential acquisition of WildFire would allow the energy company to expand its production portfolio and asset base. The pending purchase highlights ongoing consolidation activity among independent shale producers seeking to scale operations and secure reserves.
From the sources (2 posts)
@staunovoMagnolia Oil & Gas Corp. has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion in what would rank as its largest-ever acquisition, according to people familiar with the matter. The Houston-based s
@businessMagnolia Oil & Gas has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion in what would rank as its largest-ever acquisition, according to people familiar with the matter