Ranger Oil Racks Up Six ‘Bolt-on’ Acquisitions Worth $110 Million

Ranger Oil added three “bolt-on” acquisitions in the Eagle Ford Shale, bringing the total of all-cash transactions signed in the second quarter to six worth a combined $110 million.

Hart Energy Staff
Ranger Oil Racks Up Six ‘Bolt-on’ Acquisitions Worth $110 Million

The bolt-on acquisitions announced June 30 are largely composed of additional working interests in existing Ranger Oil-operated wells along with contiguous producing assets and undeveloped acreage in the Eagle Ford Shale. (Source: Hart Energy, Shutterstock.com)

Ranger Oil Corp. announced additional “bolt-on” acquisitions in the Eagle Ford Shale on June 30, bringing the total purchase price of transactions signed in the second quarter to approximately $110 million.

The combined all-cash transactions are part of a strategy to “relentlessly build” long-term value for the company’s shareholders through accretive transactions that are adding premium scale and increasing overall efficiencies, according to Darrin Henke, president and CEO of Ranger Oil.

“In the second quarter alone, we executed six ‘bolt-ons’ in the Eagle Ford,” Henke said in a June 30 release, “demonstrating our ability to identify attractively-priced, strategic transactions where we can leverage our operational expertise to create significant synergies and optimize cash-on-cash returns.”

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