WildFire Energy Buys Apache Assets as U.S. Shale Deals Continue

WildFire Energy I LLC will become the biggest holder of consolidated acreage in the Eagle Ford shale play in East Texas after buying net acreage and wells from Apache Corporation, amid the ongoing mergers and acquisitions M&A wave in the U.S. oil and gas industry. WildFire Energy announced this week that it had entered into a definitive agreement to buy around 237,000 net acres and interests in 465 wells in the East Texas Eagle Ford from Apache Corporation and subsidiaries.

The assets that WildFire Energy is buying from Apache, for an undisclosed sum, had an average net daily production of around 11,000 barrels of oil equivalent boe in the first quarter of 2024. A total of 67% of the production was liquids. WildFire estimates that unaudited, net proved reserves were approximately 40 million barrels of oil equivalent as of December 31, 2023.

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