Penn Virginia Rebrands as Ranger Oil Following Close of Lonestar Acquisition

The rebrand to Ranger Oil reflects a focus on “safe and efficient oil and natural gas operations in Texas,” where Penn Virginia—which has a corporate lineage dating back to the late 1800s—eventually narrowed its focus in the Eagle Ford Shale.

Penn Virginia Rebrands as Ranger Oil Following Close of Lonestar Acquisition

The combined asset bases of Penn Virginia, Rocky Creek Resources and Lonestar created a consolidated asset position with over 140,000 net acres strategically positioned in the core of the Eagle Ford play in South Texas. (Source: Penn Virginia Corp. / Oil and Gas Investor April 2021 issue)

Penn Virginia Corp. closed the all-stock acquisition of Lonestar Resources US Inc. with an announcement on Oct. 6 of plans to rename the combined company Ranger Oil Corp.

With a corporate lineage dating back to the late 1800s, Penn Virginia was formed as an Appalachian coal company. It later evolved into a natural gas producer and then oil with assets in various shale basins.

The rebrand to Ranger Oil, according to a release, reflects the company’s focus on “safe and efficient oil and natural gas operations in Texas,” where it eventually narrowed its focus solely to the Eagle Ford bolstered with the recent acquisitions of Lonestar and Rocky Creek Resources, both of which closed within the past year.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.