Magnolia Oil & Gas Corp

Magnolia Oil & Gas Corp announced the completion of its WildFire Acquisition for $3.46 billion, significantly expanding its South Texas operations. The company reported a substantial increase in total assets to $7.38 billion as of September 30, 2026, up from $2.90 billion at the end of 2025. Revenues for the nine months ended September 30, 2026, surged to $1.35 billion, a 36% increase year-over-year, with net income attributable to Class A common stock reaching $362 million. The acquisition was financed through a combination of cash, stock, and the assumption of $600 million in WildFire Senior Notes, leading to a significant increase in long-term debt.

Magnolia Oil & Gas reported strong second-quarter 2026 results with total revenues increasing to $478.8 million and net income attributable to Class A Common Stock rising to $181.8 million, or $0.97 per basic share. For the six months ended June 30, 2026, the company generated $581.6 million in net cash from operating activities and completed $156.2 million in bolt-on property acquisitions. The company also eliminated its noncontrolling interest by acquiring the remaining Magnolia LLC Units and continued its share repurchase program.

Magnolia Oil & Gas Corp successfully completed an equity offering, raising approximately $1.26 billion through the sale of 53,263,158 shares of its Class A common stock at $23.75 per share. The offering, which included the full exercise of the underwriters' option, closed on July 22, 2026. The company intends to use the net proceeds primarily to fund the cash consideration for its pending acquisition of WildFire Intermediate Holdings, LLC, with alternative uses including general corporate purposes and debt repayment if the acquisition does not proceed.

Magnolia Oil & Gas Operating LLC and Magnolia Oil & Gas Finance Corp. announced the pricing of a private offering of $500 million in 6.625% senior unsecured notes due 2034. The closing of the offering is anticipated on August 5, 2026. The net proceeds from this offering, combined with other funding sources, are intended to finance the cash consideration for the company's pending acquisition of WildFire Intermediate Holdings, LLC.

Magnolia Oil & Gas Operating LLC and Magnolia Oil & Gas Finance Corp. announced their intent to offer $500 million in aggregate principal amount of senior unsecured notes due 2034 in a private offering. The proceeds from this notes offering, combined with funds from a recently priced equity offering and other sources, will be used to finance the cash consideration for the acquisition of WildFire Intermediate Holdings, LLC. The equity offering, which included an underwriters' option exercise for additional shares, is expected to close on July 22, 2026.

Magnolia Oil & Gas provided updated disclosures and financial information related to its previously announced acquisition of WildFire Intermediate Holdings, LLC. The acquisition is valued at approximately $4.1 billion, comprising 32.2 million Magnolia shares, $2.7 billion in cash, and the assumption of $600 million of WildFire's debt. The filing includes WildFire's financial statements, pro forma combined financials, and reserve reports. Magnolia also released preliminary Q2 2026 estimates, including production and capital expenditures for both companies.

Magnolia Oil & Gas Corporation announced a definitive agreement to acquire WildFire Energy for approximately $4.06 billion, inclusive of WildFire's debt. The acquisition, funded by a mix of cash, equity, and assumed debt, is expected to more than double Magnolia's Giddings acreage, establishing a dominant position in the Eagle Ford/Austin Chalk. The company anticipates the transaction to be immediately accretive to key per-share financial metrics and generate over $100 million in annual synergies. Concurrently, Magnolia increased its quarterly dividend by 9% to $0.18 per share and raised its standalone 2026 production growth guidance to 6%.

Magnolia Oil & Gas reported Q1 2026 total revenues of $358.5 million, an increase from $350.3 million in Q1 2025. Net income attributable to Class A Common Stock was $99.8 million, down from $102.9 million in the prior year, with basic and diluted EPS remaining flat at $0.54. The company increased its quarterly dividend to $0.165 per share and completed $155.0 million in bolt-on property acquisitions. Additionally, Magnolia eliminated its noncontrolling interest and Class B Common Stock through redemptions and cancellations.

Magnolia Oil & Gas reported first quarter 2026 net income of $100.8 million, a 5% decrease year-over-year, with diluted EPS remaining flat at $0.54. Total production volumes increased by 6% to 102.6 Mboe/d, while adjusted EBITDAX grew 2% to $252.9 million. The company also completed $155 million in bolt-on acquisitions, adding 6,200 net acres and approximately 500 boe/d, and returned $83.3 million to shareholders through dividends and share repurchases.