Ranger Oil Corp.
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About
Ranger Oil was 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.
Ranger Oil was acquired by Baytex Energy Corp. for $2.2 billion in 2023.
The company was formerly known as Penn Virginia Corp., which had a corporate lineage dating back to the late 1800s as an Appalachian coal company, but rebranded, effective Oct. 18, 2021, following the completion of its acquisition of Lonestar Resources.
Editor's note: Updated April 23, 2024.
Transactions
Baytex Closes $2.2 Billion Acquisition of Eagle Ford’s Ranger Oil
Baytex Closes $2.2 Billion Acquisition of Eagle Ford’s Ranger Oil
Ranger Oil Racks Up Six ‘Bolt-on’ Acquisitions Worth $110 Million
Ranger Oil Racks Up Six ‘Bolt-on’ Acquisitions Worth $110 Million
Ranger Oil Unveils Three ‘Bolt-on’ Acquisitions Totaling $64 Million
Ranger Oil Unveils Three ‘Bolt-on’ Acquisitions Totaling $64 Million
Eagle Ford Producers Penn Virginia, Lonestar to Combine in $370 Million Deal
Eagle Ford Producers Penn Virginia, Lonestar to Combine in $370 Million Deal
Juniper Capital Advisors to Make Strategic Investment in Penn Virginia
Juniper Capital Advisors to Make Strategic Investment in Penn Virginia
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New Financings
Announced that its borrowing base under its revolving credit facility was increased 20% to $875 million.…
Announced its board of directors approved a share repurchase program, under which the company is…
Announced 20% increase to the borrowing base under its revolving credit facility to $725 million from $…
Priced offering by indirect, wholly owned subsidiary Penn Virginia Escrow LLC of 9.250% senior unsecured…
Announced the deferral of a proposed private offering of its senior unsecured notes offering due 2028…
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News
Baytex Energy Joins Eagle Ford Shale’s Refrac Rally
Canadian operator Baytex Energy joins a growing number of E&Ps touting refrac projects in the Eagle Ford Shale.
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
Baytex Closes $2.2 Billion Acquisition of Eagle Ford’s Ranger Oil
Baytex Energy closed its $2.2 billion acquisition of Ranger Oil Corp., adding scale to the Canadian operator’s position in the Eagle Ford Shale.
Baytex Shareholders Approve $2.5 Billion Ranger Oil Acquisition
Baytex reported on May 15 that shareholders had approved the $2.5 billion deal to acquire Eagle Ford operator Ranger Oil Corp.
Ranger Oil Announces Quarterly Cash Dividend
Dividend will be payable on May 30 to shareholders on record as of May 22.
Enverus: Eagle Ford Upstream Deal Activity Soars in Q1
E&Ps continue to look at the Permian Basin for undeveloped acreage, but deal activity in the Eagle Ford Shale surged in the first quarter as buyers searched for producing assets.
Baytex Raises Capital for $2.5 Billion Ranger Oil Deal
Canada’s Baytex Energy Corp. moved a step closer toward finalizing its purchase of Ranger Oil Corp. with the closing of its private offering of $800 million aggregate principal amount of senior unsecured notes.
A&D Minute: Canada's Baytex Energy Expands in Eagle Ford in a Big Way [WATCH]
Also in this week's A&D Minute: Aramco completed its acquisition of Valvoline's global products business for $2.65 billion and pipeline operator Enbridge acquired a 5-Bcf salt cavern storage facility in Texas for $335 million.
Baytex Energy Stock Takes Hit as Investors Weigh $2.5B Ranger Oil Deal
Baytex Energy’s acquisition of Ranger Oil Corp. is financially accretive and adds much-needed inventory, but analysts and investors have questions about the $2.5 billion deal.
Baytex to Acquire Eagle Ford E&P Ranger Oil for $2.5 Billion
The deal is the latest Eagle Ford transaction following months of multi-billion dollar M&A by Marathon Oil, Devon Energy and, most recently, Chesapeake Energy.
Texas Shale Producer Ranger Oil Explores Sale, Sources Say
Shares in Ranger Oil, which operates in the Eagle Ford Shale, jumped over 5% on Nov. 18 after Reuters reported the company’s sale efforts.
![A&D Minute (Sept. 21, 2022): Is Eagle Ford Consolidation Inevitable? [WATCH]](/sites/default/files/styles/image_480x320_3_2/public/image/2022/09/ad-minute-sept-21-2022-eagle-ford-consolidation-inevitable-watch.jpg?itok=sIpfl13J)
A&D Minute (Sept. 21, 2022): Is Eagle Ford Consolidation Inevitable? [WATCH]
Also in this week’s A&D Minute: SilverBow Resources’ $50 million acquisition provides a new position in this South Texas gas play and U.S. Energy Development Corp. recently acquired core Permian Basin acreage for more than $60 million.
M&A Overdrive: Ranger Oil CEO Sees Eagle Ford Consolidation as Inevitable
Scale equals relevance and Ranger Oil, doing everything its larger peers do, wants to build its way in the Eagle Ford to higher trading multiples, CEO and President Darrin Henke told Hart Energy in this exclusive interview.
Ranger Oil Racks Up Six ‘Bolt-on’ Acquisitions Worth $110 Million
Ranger Oil added three “bolt-on” acquisitions in the Eagle Ford Shale, bringing the total of all-cash transactions signed in the second quarter to six worth a combined $110 million.
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.