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Investment ​firms Warburg Pincus and Kayne ​Anderson are exploring a potential sale of WildFire Energy, ​with any deal expected to value the U.S. shale operator at more than $4 billion including debt, people familiar with the matter said. The move comes ‌at a ⁠time when ⁠crude prices have surged, with U.S. benchmark oil back above $100 per barrel ​this week, due to the conflict in the Middle East. While the disruption ​to energy markets, and the wider global economy, is substantial, the value of energy production assets has also been boosted significantly by ​these higher commodity prices, making it ⁠an attractive ‌time for owners of such companies to consider ​selling.

WildFire Energy ​is among the largest privately owned operators in South ⁠Texas’ Eagle Ford shale basin, producing around 50,000 ​net barrels of oil equivalent per day, according to ​its website.