ROCC - Ranger Oil reports Q3 prelim total sales above its guidance range
- Ranger Oil ( NASDAQ: ROCC ) +3.5% says preliminary Q3 total sales volumes ~42.6k Mboe/d, Oil sales volumes ~30.7k Mbbl/d. Total sales volumes were above high-end of guidance.
- Realized oil prices in Q3 were ~$93.03/barrel.
- Q3 Drilling and Completion capital expenditures were ~$151.9M.
- Utilized a third rig for a portion of the second and third quarters of 2022.
- Company may elect to continue with a 3-rig development program in 2023 based on the rig's performance, market conditions, and capital allocation plans for next year.
- ~$70M returned to shareholders over last five months through share repurchase and dividend program.
- As of Sept. 30, 2022, had $400M of senior unsecured notes and ~$195M drawn, net of cash, on its revolving credit facility.
- Source: Press Release
For further details see:
Ranger Oil reports Q3 prelim total sales above its guidance range