Four years ago Wildfire Energy was formed by the former CEO and executives of Wildhorse Resources following Wildhorse being sold to Chesapeake for $4 Billion. As discussed in the article below, Chesapeake just agreed to sell what has been referred to as the Brazos Valley portion of Wildhorse’s operations to Wildfire Energy for $1.425 Billion.
The sale covers the wells and acreage Wildhorse formerly held in Washington, Burleson and five adjoining counties that supposedly made up 90% of what Chesapeake had acquired.
Chesapeake’s acquisition, right before crude peaked and COVID started, couldn’t have been worse, and since then they have added few, if any, new wells in those seven counties.
The news releases don’t give much detail but until something says otherwise I’m considering this very positive for the prospects of more activity in Washington County.