WildFire Energy Announces Eagle Ford Acquisition of MD America Energy
Mar 07, 2022, 09:00 ET
HOUSTON, March 7, 2022 /PRNewswire/ -- WildFire Energy ("WildFire"), today announced the acquisition of approximately 45,000 net acres and 200 operated wells in the East Texas Eagle Ford from MD America Energy ("MDAE"). WildFire funded the acquisition of MDAE with equity contributions from sponsors, Warburg Pincus and Kayne Anderson, and the company's upsized revolving credit facility.
With the acquisition, WildFire will operate 556 gross wells on 210,000 net acres in the eastern Eagle Ford encompassing Burleson, Brazos, Robertson, Madison, Lee, and Grimes counties of Texas. With the addition of MDAE's December 2021 production of approximately 3,200 boe/d (85% liquids), the combined entity expects to produce ~16,000 net boe/d (91% liquids) in 2022.
The MDAE acquisition follows WildFire's successful acquisition of Hawkwood Energy LLC ("Hawkwood"), an independent exploration and production company in August 2021.
WildFire Energy is an independent energy platform company formed to acquire and optimize production-weighted oil and gas assets and is led by CEO, Anthony Bahr, President/COO, Steve Habachy, and CFO, Drew Cozby.
"As the second major acquisition closed in less than six months, WildFire is fulfilling its vision as a lead consolidator in the eastern Eagle Ford. The drive and energy of our team has been relentless in boosting production, identifying efficiencies, and growing the contiguous acreage position. With an oil-weighted asset and a core position in this part of the basin, we are well-positioned to acquire more value-accretive assets in our area," said Steve Habachy, President and COO of WildFire Energy.
"With the closing of this strategic acquisition, WildFire Energy will bring more barrels to market from a previously dormant program at a crucial time for the world economy. In addition, with this adjacent acquisition, WildFire will be able further leverage economies of scale optimizing production in an efficient and sustainable manner," added WildFire Energy CEO, Anthony Bahr.
Locke Lord LLP served as the legal advisors for WildFire Energy.
About WildFire Energy
WildFire Energy is an independent energy platform company pursuing production-weighted oil and gas assets in onshore US basins, seeking to efficiently optimize and develop reserves using modern technologies and its extensive operating experience. WildFire Energy was formed in 2019 with funding from Warburg Pincus, Kayne Anderson, and management.
CFO, WildFire Energy
SOURCE WildFire Energy
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