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Market Chatter: Citadel Considers Expansion Into US Oil Production

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Citadel is weighing a move into US oil production assets as it looks to broaden its presence in physical commodities, Reuters reported Friday, citing five people familiar with the talks.

Citadel also bid for WildFire Energy earlier this year after Warburg Pincus and Kayne Anderson put it up for sale; Magnolia Oil & Gas (MGY) won the auction with a $4.06 billion offer. The bid was among a handful of recent engagements Citadel had with private equity firms over oil-focused assets, according to the report.

A deal like that would give Citadel producing assets and an established management team to oversee them and future purchases, the report said. Citadel and WildFire did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $26.74, Change: $-0.48, Percent Change: -1.75%

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