Eagle Ford Shale Producer Ranger Oil Increases Oil Sales Guidance

Ranger Oil Corp. on Dec. 6 announced an increase in the company’s oil sales guidance for the fourth quarter and an update to its current hedge position while also leaving capex guidance unchanged.

According to a statement by President and CEO Darrin Henke, Ranger Oil is positively revising as well as narrowing its guidance of anticipated sales volumes for the fourth quarter from a range of 25,700 - 27,700 bbl/d of oil to a range of 26,700 - 28,000 bbl/d.

“I am very pleased to announce that, due to the observed outperformance of existing wells, faster cycle times and less anticipated downtime, we now expect our fourth-quarter sales volumes to be considerably higher than initially anticipated,” Henke commented.