Magnolia Oil & Gas slides after starting $1 bln stock offering for WildFire Energy deal
20/07/2026 22:15
BUZZ-Magnolia Oil & Gas slides after starting $1 bln stock offering for WildFire Energy deal ** Shares of Magnolia Oil & Gas MGY.N down 5.4% to $24.15 post-market after M&A-related equity raise news
** MGY kicks off $1 bln stock offering to fund purchase of WildFire Energy
** Shale producer before the bell Mon said it agreed to buy WildFire for about $4 bln, including debt, to expand its position in the Giddings field in South Texas
** MGY shares finished down 6.3% at $25.53 on Mon, trimming YTD gain to ~17%
** JP Morgan and Goldman Sachs are joint bookrunners for the stock offering, among others
** Houston, Texas-based MGY has ~184.95 mln shares outstanding for $4.7 bln market cap
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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