Magnolia Oil & Gas Closes $4 Billion WildFire Acquisition

Magnolia Oil & Gas Corp. closed a $4 billion acquisition of WildFire, targeting significant operational overlap within the Eagle Ford basin. The company funded the transaction using a combination of stock and debt, while keeping its debt ratio below 1.0.

Magnolia Oil & Gas expects the deal to be accretive and to generate substantial administrative and cost synergies because of the high degree of acreage overlap between the two companies. Following the closure of the acquisition, the company plans to implement a dividend increase.