ROCC - Ranger Oil to acquire some Eagle Ford assets for ~$64M in accretive transactions

Ranger Oil Corporation (NASDAQ:ROCC) to acquire three "bolt-on" oil producing properties in the Eagle Ford shale contiguous to Ranger's existing assets for a total purchase price of approximately $64M in cash. The acquisitions are expected to be accretive to key financial metrics and will generate significant near-term operational synergies. The transactions are expected to close early in the third quarter. Q1 results will be out on May 5, 2022. Darrin Henke, Ranger's President and CEO, said, "These strategic and accretive acquisitions of adjacent oil-weighted assets further demonstrate the strength of our business and our strategy of delivering shareholder value through a variety of avenues. We recently announced our achievement of leverage below 1.0x and our plans to begin a fixed dividend and a share repurchase program. 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

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Ranger Oil to acquire some Eagle Ford assets for ~$64M in accretive transactions