After securing more than $1 billion in financing two years ago to acquire and exploit underdeveloped oil and gas assets, Houston-based newcomer Wildfire Energy has landed its first smokin’ hot deal—this one in the Eagle Ford. Reese Energy Consulting today is following the latest news from Wildfire which will purchase Denver-based Hawkwood Energy in agreements valued at $650 million. Hawkwood shareholders will retain a 50% equity interest in Wildfire with the other 50% held by Wildfire’s management team and capital backer Kayne Anderson. Hawkwood operates 170,000 contiguous net acres in the Eagle Ford, including more than 375 wells, 19 MBOED in production, and 750+ future net locations. Founded in 2012, the company shifted focus two years later to East Texas, accumulating Eagle Ford assets in 30 transactions that also included the 2017 acquisition of Halćon Resources’ EF subsidiaries. That deal gifted Hardwood 81,000 net acres, 170 wells, and 9+ MBOED.
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WildFire Energy is an independent energy company focused on the acquisition, exploitation, and production of oil and natural gas properties in the United States through the application of modern technology and production optimization. The company is led by Chief Executive Officer Anthony Bahr, the former President of WildHorse Resource Development, and President & Chief Operating Officer, Steve Habachy, former Chief Operating Officer of WildHorse Resource Development. WildFire Energy is funded by management, Warburg Pincus, and the Kayne Private Energy Income Funds platform.