More than 2.5% of Total Common Stock Repurchased to Date; Share Repurchase Authorization Increased by 40% Company Initiates Higher than Expected Inaugural Quarterly Cash Dividend to Shareholders Ranger Oil Corp. today announced the current status of its ongoing share repurchase program along with an expansion of its cash return framework, increasing its share repurchase program and initiating an inaugural quarterly cash [...]
Provides Current Estimated Production Update for Recent Wells Turned in Line Plans to Initiate Borrowing Base Redetermination Ranger Oil Corp. today announced additional bolt-on acquisitions of oil and gas assets in the Eagle Ford shale, bringing the total purchase price of transactions signed in the second quarter to approximately $110 million, subject to customary adjustments. The combined all cash transactions are [...]
Company Repurchases Approximately 463,000 Shares As Balance Sheet Continues To Strengthen Ranger Oil Corp. today announced that its borrowing base under its revolving credit facility was increased 20% to $875 million. Ranger's elected commitment under the facility remains at $400 million. This is the second announced increase this year for a total of approximately 45%. Darrin Henke, President and CEO said, "Ranger sits in [...]
Ranger Oil Corp. today announced that S&P Global Ratings upgraded its issuer credit rating on the Company to 'B' with a stable outlook and moved the debt rating of its senior unsecured debt to 'B+'. Darrin Henke, President and CEO said, "It's great to see our hard work to strengthen our capital structure and liquidity being recognized by our rating agencies. Our future is bright as we have a strong balance sheet, a deep [...]
Free Cash Flow sets quarterly record Achieved high end of sales volumes guidance on lower capital investments Increased mid-point of full-year 2022 sales volumes outlook and reiterated capital guidance Ranger Oil Corp. today announced financial and operational results for the first quarter of 2022. First Quarter Highlights Achieved upper end of quarterly sales guidance with oil sales of 26,980 barrels per day and total [...]
"Bolt-ons" to expand footprint by >10%, increase working interest and lateral lengths in existing development program Acquisitions funded through first quarter free cash flow Ranger Oil Corp. today announced the signing of separate agreements 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 $64 million in cash [...]
Ranger Oil Corp. plans to release its first quarter 2022 financial and operating results after market close on Wednesday, May 4, 2022. A conference call and webcast is planned for 11 am ET on Thursday, May 5, 2022. In addition to the release, supplemental slides will be available on Ranger's website at www.RangerOil.com. To participate in the conference call, please dial 707-6931 317-9248) approximately 10 minutes prior [...]
Ranger Oil Corp. today announced that the Company has reduced its leverage to its previously stated target, and its Board of Directors approved a $100 million share repurchase program. As of March 31, 2022, Ranger had a net debt balance of approximately $521.6 million, down approximately $64.9 million from its net debt balance as of December 31, 2021. Darrin Henke, President and Chief Executive Officer of Ranger [...]
Ranger Oil Corp. today announced financial and operational results for the fourth quarter and full-year 2021, its near-term plans for shareholder return initiatives through share repurchases and quarterly dividends, and the Company's 2022 outlook. Significant Highlights Fourth Quarter Sold 27,516 barrels of oil per day for the fourth quarter of 2021, exceeding the mid-point of upward revised oil sales guidance. Total [...]
Ranger Oil Corp. announced today the promotion of Julia Gwaltney to the role of Senior Vice President and Chief Operating Officer effective immediately. Ms. Gwaltney joined the Company in January 2021 as Senior Vice President of Development. Darrin Henke, President and Chief Executive Officer commented, "I have had the pleasure of working with Julia for over 20 years, and her experience and technical expertise are [...]
Ranger Oil Corp. announced today its total proved reserves for year end 2021, the expected achievement of its 1.0x leverage target, and the Company's fourth quarter 2021 earnings release date. Highlights Announced 90% growth in total proved and 82% growth in proved developed reserves volumes from year end 2020; Standardized measure of future discounted cash flows for total proved and PD reserves of $3,057 million and [...]
Ranger Oil today announced a 20 percent increase to the Company's borrowing base under its revolving credit facility from $600 million to $725 million. Ranger's elected commitment under the facility remains at $400 million. "We greatly appreciate the recognition by our banking syndicate of the material value created in our PDP base through the drill bit since this summer," said Darrin Henke, President and Chief Executive [...]
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