Warburg Pincus and Kayne Anderson to Sell WildFire Energy to Magnolia Oil & Gas for $4.06 Billion
Founded in partnership with Kayne Anderson and Warburg Pincus in 2019, WildFire Energy has become a leading private, large-scale oil-weighted platform
NEW YORK and HOUSTON, July 21, 2026 /PRNewswire/ -- Kayne Anderson and Warburg Pincus announced an agreement to sell WildFire Energy ("WildFire" or the "Company") to Magnolia Oil & Gas Corporation ("Magnolia") (NYSE:MGY) for approximately $4.06 billion. The acquisition has been unanimously approved by Magnolia's board of directors.
WildFire is an independent energy company focused on the acquisition, development and optimization of oil and gas assets in the Austin Chalk, Eagle Ford, and Woodbine formations of South Texas. Warburg Pincus, Kayne Anderson, and the WildFire management team partnered together in 2019 to form the Company, and since then, have grown the business into one of the largest privately owned oil & gas producers in the United States.
Over the course of the partnership, WildFire expanded its position through a series of strategic acquisitions, starting with the acquisition of Hawkwood Energy in 2021, as well as a highly effective organic growth strategy. Today, the Company produces 53 Mboe/d (~70% oil) across ~810,000 net acres and has built a leading platform characterized by top-tier well performance, inventory depth, capital efficiency, and strong free cash flow generation.
"Our team has worked hard to build a differentiated business with high-quality assets, disciplined operations and a strong culture of execution. We are excited for the opportunities ahead for Magnolia and believe this transaction positions the asset for continued success," said Anthony Bahr, Chief Executive Officer of WildFire. "We appreciate the support and partnership of Kayne Anderson and Warburg Pincus, which have been instrumental in helping WildFire grow into the platform it is today," added Steve Habachy, President and Chief Operating Officer of WildFire.
"WildFire represents a rare combination of high-quality underdeveloped assets, market opportunity and a strong management team with the unique capabilities to acquire, optimize and scale oil and gas assets," said Ryan Dalton, Managing Director at Warburg Pincus. "Anthony, Steve, Drew, and the broader WildFire team have executed that strategy with discipline and focus, building a differentiated platform with significant scale, strong performance and durable growth potential. We are proud to have supported WildFire's development and believe Magnolia is an excellent steward for the Company's next chapter," added Jeff Luse, Managing Director at Warburg Pincus.
"WildFire built one of the premier privately-owned upstream businesses in North America through thoughtful acquisitions, operational excellence and a relentless focus on long-term value creation. This extraordinary outcome reflects the vision, hard work and dedication of WildFire's management team and we are proud to have partnered with them at Kayne Anderson," said Danny Weingeist, Managing Partner at Kayne Anderson. "It has been a privilege to partner with Anthony, Steve, Drew and the entire WildFire team to build a truly differentiated company, and we are incredibly proud of what we accomplished together. We congratulate the entire WildFire organization on this outstanding achievement and wish Magnolia continued success with these exceptional assets," added Mark Teshoian, Managing Partner at Kayne Anderson.
The proposed transaction is subject to customary closing conditions and regulatory approvals, with anticipated closing in late-Q3 2026.
In connection with the sale, WildFire has retained Jefferies LLC and BofA Securities, Inc. as financial advisors. Troutman Pepper Locke served as WildFire's legal advisor.
About WildFire Energy
WildFire Energy is an independent energy company headquartered in Houston, Texas, focused on the acquisition, development and optimization of oil and gas assets in the Austin Chalk, Eagle Ford and Woodbine formations. The Company was formed in 2019 with funding from Warburg Pincus, Kayne Anderson and management.
About Warburg Pincus
Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $105 billion in assets under management, and more than 225 companies in its active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,100 companies across its private equity, real estate, and capital solutions strategies.
The firm is headquartered in New York with more than 15 offices globally. For more information, please visit www.warburgpincus.com or follow us on LinkedIn and YouTube.
About Kayne Anderson
Kayne Anderson, founded in 1984, is a leading alternative investment management firm focused on real estate, credit, infrastructure, and energy. With a team defined by an entrepreneurial and resilient culture, Kayne Anderson's investment philosophy is to pursue cash flow-oriented niche strategies where knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. Kayne manages $41 billion in assets (as of 3/31/2026) for institutional investors, family offices, high net worth and retail clients and employs 350 professionals. For more information, please visit www.kaynecapital.com.
About Magnolia Oil & Gas
Magnolia (MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders by delivering steady, moderate annual production growth resulting from its disciplined and efficient philosophy toward capital spending. The Company strives to generate high pre‐tax margins and consistent free cash flow allowing for strong cash returns to our shareholders. For more information, visit www.magnoliaoilgas.com.
Media Contacts
Warburg Pincus
Sarah Bloom, Director, Communications
sarah.bloom@warburgpincus.com
Kayne Anderson
Gracie Hanson, Managing Director, Marketing
publicrelations@kayneanderson.com
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SOURCE Warburg Pincus LLC