Warburg Pincus, Kayne Anderson, and the WildFire management team partnered together in 2019 to form the company, with Anthony Bahr serving as CEO of WildFire Energy. The Houston-based energy company is focused on the acquisition, development, and optimization of oil and gas assets in the Austin Chalk, Eagle Ford, and Woodbine formations of South Texas.

Kayne Anderson and Warburg Pincus have agreed to sell WildFire Energy to Magnolia Oil & Gas Corporation for about $4.06 billion. The transaction is expected to close late in the third quarter of this year, representing a significant exit for the private equity sponsors and management team.

The deal underscores continued consolidation in the South Texas energy sector, with strategic buyers targeting quality acreage in proven formations. WildFire's portfolio in the Austin Chalk, Eagle Ford, and Woodbine has attracted premium valuation amid favorable commodity pricing and operational momentum.