Ranger Oil Corp., Houston, will add to its South Texas Eagle Ford shale position with oil and gas agreements comprised largely of additional working interests in existing Ranger-operated wells along with contiguous producing assets and undeveloped acreage, the company said in a release June 30.
Details on the seller(s), deal value, and specific working interest shares were not provided, but the company said the transactions bring the total purchase price of deals signed in this year’s second quarter to about $110 million.
The deals announced June 30 are expected to add about 1,600 boe/d of production (79% oil / 92% liquids), primarily associated with low-decline, legacy wells, the company said.
Pro-forma for the transactions, Ranger anticipates exiting the second quarter producing over 30,000 b/d and 42,000 boe/d.
The combined all cash transactions are expected to close on or before July 5.
