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07/2026100%

WildFire Energy acquired by Magnolia Oil & Gas Corporation

UNITED STATES Oil & Gas / Upstream (Exploration & Production) EV $1–10bn

Context

On 20 July 2026, Magnolia Oil & Gas (NYSE: MGY) entered into a definitive agreement to acquire WildFire Energy, expanding its contiguous South Texas footprint to more than 1.25 million net acres. The transaction marks the full exit of private equity sponsors Warburg Pincus and Kayne Anderson, concluding an investment cycle that began in 2019 and included the integrations of Hawkwood Energy, MD America Energy, and legacy assets from Chesapeake and Apache. Strategically, the transaction adds a high-margin, low-decline asset base with a significant liquids weighting, targeting over $100 million in annual operational synergies and cost efficiencies. The combination increases Magnolia’s standalone 2026 production growth guidance from 5% to 6% while supporting an immediate 9% increase in its quarterly dividend. WildFire Energy was advised by Jefferies LLC and BofA Securities as financial advisers, with Troutman Pepper Locke acting as legal counsel. The transaction has been unanimously approved by Magnolia’s Board of Directors and is slated to close in late Q3 2026, subject to customary closing conditions and regulatory approvals.

WildFire Energy, which reported an EBITDA margin of [members only] in 2026, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.

Target

Headquartered in Houston, WildFire Energy is an independent upstream energy platform focused on the acquisition, development, and optimization of oil and gas assets across the Austin Chalk, Eagle Ford, and Woodbine formations in East Texas. The company holds a core operating footprint of approximately 810,000 net acres. Led by CEO Anthony Bahr and President Steve Habachy, WildFire operates a high-margin production base delivering approximately 53,000 barrels of oil equivalent per day (boepd), with an oil-weighted commodity mix of roughly 70%. To support its drilling and completions program, the producer operates integrated logistical infrastructure, including a proprietary local sand mine and over 500 miles of gas gathering pipelines. Founded in 2019, the E&P company has built an extensive, capital-efficient drilling inventory with top-tier well performance, positioning its asset base for long-life development and high estimated ultimate recoveries (EUR) across the Eastern Eagle Ford basin.

Ent. Value

$1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

5x–12x

EV / EBIT

10x–18x

Historical Financials (USD)

FREE VIEW
Year
Rev
EBITDA
EBIT
2026
900m
$450–900M
$250–500M
2025
$500M–1bn
$450–900M
$250–500M

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07/2026KKR / ENERGY CAPITAL PARTNERSDCC ENERGYIRELANDDownstream (Refining & Retail)
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REFERENCES

Valuation range: EV $1–10bn

Revenue range: $500M–1bn

EBITDA range: $450–900M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of WildFire Energy by Magnolia Oil & Gas Corporation are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: wildfire energy

FAQ

What transaction does this page cover?

This page covers Magnolia Oil & Gas Corporation’s acquisition of 100% of WildFire Energy, an American company specialised in Upstream (Exploration & Production), in 2026.

How was the acquisition of WildFire Energy by Magnolia Oil & Gas Corporation valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $1–10bn band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were WildFire Energy’s revenue and EBITDA at the time of the deal?

At the time of the transaction, WildFire Energy reported annual revenue of $900m, with EBITDA estimated in the $450–900M bracket (FY 2026). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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