Ranger Oil Corp.
Announced its board of directors approved a share repurchase program, under which the company is authorized to repurchase up to $100 million of its outstanding Class A common stock. The share repurchase authorization is effective immediately and valid through March 31, 2023. This program is equivalent to approximately 6% of Ranger's current market cap. The shares may be repurchased from time to time in open market transactions, through privately negotiated transactions, or by other means in accordance with federal securities laws. The company intends to fund repurchases from available working capital and cash provided by operating activities.