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Ranger Oil Corporation

Company Summary

Description

Penn Virginia and Lonestar Resources US have closed on their planned merger, and they are now rebranded as Ranger Oil Corporation.  Ranger now operates 40 Mboe/d in production on 140,000 net acres in the Eagle Ford Shale with 750 future drilling locations.

Operational Regions

  • Eagle Ford

Financial Data:

NYSE:PVA from Google Finance

Tickers:

  • PVA - New York Stock Exchange

Related Entities

Recent news

  • 4/13/2023 - Baytex Energy Offering... (subscriber access)
  • 3/1/2023 - Baytex Reportedly... (subscriber access)
  • 9/28/2022 - Ranger Oil Corp. Lifts... (subscriber access)
  • 4/14/2022 - Ranger Oil Announces... (subscriber access)
  • 1/6/2022 - Ranger Oil Corp.... (subscriber access)

Investor Presentations

  • Lonestar Resources Acquisition
  • 3Q19 Investor Presentation (subscriber access)
  • Denbury & Penn Virginia Combination (subscriber access)
  • 1Q18 Earnings Presentation (subscriber access)
  • Investor Update - Hunt Acquisition (subscriber access)
  • 2Q17 Earnings Presentation (subscriber access)

Company Transactions

Date: 9/30/2021
Type: Merger

BUYERS:
  • Ranger Oil Corporation
    • SELLERS:
  • Lonestar Resources US, Inc.
    • DETAILS:

    COST: 370 $MM

    VOLUMES: 13 MBOE/d

    ACRES: 53000 Acres

    NOTES:
    Penn Virginia and Lonestar Resources US have signed a $370 million merger agreement whereby Penn Virginia will acquire Lonestar via an all-stock deal. Lonestar shareholders will receive 0.51 shares of common stock in Penn for each share held, with closing planned in the back half of 2021.
    REGIONS:
  • Eagle Ford

    • Date: 3/31/2021
    Type: Acquisition

    BUYERS:
  • Juniper Capital
    • SELLERS:
  • Ranger Oil Corporation
    • DETAILS:

    COST: 188.4 $MM

    NOTES:
    Juniper Capital Advisors is making a strategic investment into E&P firm Penn Virginia which totals $188.4 million. The deal includes $150 million in cash at $8.75/share, marking a 13% premium to the firms current share price. They are also contributing complimentary oil & gas interests in exchange for a 4.96 million equity interest in a Penn Virginia subsidiary (in an up-C structure) at closing, valued at $38.4 million. Upon closing in 1Q21, Juniper will hold a 59% stake in Penn Virginia and has a six-month restriction on selling any equity securities in the firm.
    REGIONS:
  • Eagle Ford

    • Date: 8/1/2018
    Type: Acquisition

    SELLERS:
  • Ranger Oil Corporation
    • DETAILS:

    COST: 6 $MM

    VOLUMES: 755 BOE/d

    ACRES: 7150 Acres

    NOTES:
    The deal included 755 boe/d in production from 97 gross wells on 7,150 net acres of land. Penn Virginia is now a pure-play Eagle Ford shale company.
    REGIONS:
  • Midcontinent

    • Date: 3/1/2018
    Type: Acquisition

    BUYERS:
  • Ranger Oil Corporation
    • SELLERS:
  • Hunt Oil Company
    • DETAILS:

    COST: 86 $MM

    VOLUMES: 1870 BOE/d

    ACRES: 9700 Acres

    REGIONS:
  • Eagle Ford

    • Date: 10/2/2017
    Type: Acquisition

    BUYERS:
  • Ranger Oil Corporation
    • SELLERS:
  • Devon Energy Corporation
    • DETAILS:

    COST: 205 $MM

    VOLUMES: 4 MBOE/d

    ACRES: 19600 Acres

    NOTES:
    Production from the Lavaca sale includes 4 Mboe/d (60% oil) with field level annual cash flows of $30 million. Proved reserves on the property are less than 10 Mmboe as of December 31, 2016.
    REGIONS:
  • Eagle Ford