NYSE:MGYOil and Gas
Magnolia Oil & Gas (MGY) Buys WildFire Energy In $4.06 Billion South Texas Deal
Magnolia Oil & Gas (NYSE:MGY) agreed to acquire WildFire Energy in an all-in transaction valued at about $4.06b.
The deal significantly expands Magnolia's South Texas footprint, more than doubling its acreage in the Giddings field.
The company expects the transaction to be immediately accretive to cash flow, free cash flow, and earnings per share, and to support higher dividends and cost synergies.
Magnolia Oil & Gas, trading around $25.6, has delivered a return of 13.9% year to date and...