Ranger Oil Corporation
NASDAQ Global SelectCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Darrin J. Henke
- Full Time Employees
- 136
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 16285 Park Ten Place Houston TX United States of America 77084
- IPO Date
- Nov 16, 2016
- CIK
- 0000077159
- Website
- rangeroil.com
- Similar Companies
- Business
- Ranger Oil Corporation (NASDAQ: ROCC), formerly Penn Virginia Corporation, is an independent oil and gas company engaged in the onshore exploration, development, and production of crude oil, natural gas liquids (NGLs), and natural gas, with primary operations focused on drilling unconventional horizontal development wells and operating producing wells in the Eagle Ford Shale of South Texas. The company holds a contiguous lease position of approximately 187,700 gross acres (163,800 net acres) in the core liquids-rich area of the Eagle Ford across Gonzales, Lavaca, and Fayette Counties, targeting high-output assets through advanced drilling techniques, longer laterals, and choke management for optimized production efficiency; its production mix consists primarily of crude oil (around 72%), NGLs (15%), and natural gas (13%), sold via short-term floating price physical and spot market contracts, supported by long-term gathering, transportation, processing, and gas lift agreements extending through 2039. Ranger Oil maintains field offices near its South Texas assets and sells its products with crude oil comprising the majority of revenues. Founded in 1882 and headquartered in Houston, Texas, the company renamed itself from Penn Virginia Corporation in October 2021 following a strategic reorientation toward its Eagle Ford operations. It primarily serves domestic markets in the United States, with a workforce of approximately 136 employees dedicated to resource management and operational excellence in the oil and gas exploration and production sector. In a transformative development, Ranger Oil completed its merger with Baytex Energy Corp. in June 2023, approved by over 99% of shareholders, in a cash-and-stock transaction valued at approximately $2.5 billion (including net debt), positioning it as a wholly-owned subsidiary of Baytex while enhancing scale, financial strength, and free cash flow through combined Eagle Ford expertise. Post-merger, Baytex has integrated Ranger's assets, with ongoing divestiture plans announced in November 2025 for certain U.S. Eagle Ford holdings to focus on higher-return Canadian operations, alongside record production achievements in related Pembina Duvernay activities. Prior to the merger, Ranger reported robust 2022 results, including record net income of $464.5 million, production exceeding 50,000 boe/d, and $70 million returned to shareholders, alongside a 60% borrowing base increase to $950 million.
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