Eagle Ford Shale Producer Ranger Oil Increases Oil Sales Guidance

Favorable initial results of Ranger Oil’s Lonestar integration efforts resulting in the application of best practices on newly producing wells have contributed to the company’s outperformance, says President and CEO Darrin Henke.

Hart Energy Staff

Mon, 12/06/2021 - 12:05 PM

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.