Ranger Oil Unveils Three ‘Bolt-on’ Acquisitions Totaling $64 Million

Ranger Oil said it signed separate agreements to acquire three “bolt-on” oil producing properties in the Eagle Ford Shale contiguous to Ranger’s existing assets.

Ranger Oil Corp. agreed to add 17,000 net acres to its Eagle Ford position through three “bolt-on” acquisitions for a total purchase price of roughly $64 million in cash, the pure-play Eagle Ford Shale producer said on May 3.

“As consolidation in the Eagle Ford continues, we see additional attractive opportunities that, at the right valuation, could add both immediate and long-term value to shareholders,” Darrin Henke, Ranger’s president and CEO, commented in a company release.

Based in Houston, Ranger Oil is a pure-play independent oil and gas company engaged in the development and production of oil, NGL and natural gas, with operations in the Eagle Ford Shale in South Texas. Previously known as Penn Virginia, the company rebranded last October following an all-stock combination with Lonestar Resources US Inc.

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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.