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Ranger Oil Corporation First Quarter 2023 Results

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   |    Tuesday,May 09,2023

Ranger Oil Corporation announced first quarter 2023 results.

Highlights

  • Total sales volumes of 48.7 thousand barrels of oil equivalent per day ("Mboe/d") and crude oil sales volumes of 35.5 thousand barrels of oil per day ("Mbbl/d") for the first quarter of 2023
  • Net income of $113.8 million and adjusted net income (1) of $84.6 million
  • Adjusted EBITDAX (1) of $187.9 million
  • Net cash provided by operating activities of $160.2 million
  • Drilling and completion capital expenditures of $146.5 million
  • On May 5, 2023, the Board declared a cash dividend for the first quarter of $0.075 per share of Class A common stock payable May 30, 2023 to Class A common stockholders of record as of the close of business on May 22, 2023.
Ranger Oil Corp. announced financial and operational results for the first quarter of 2023.

First Quarter 2023 Financial Results

Total operating expenses for the first quarter were $154.2 million, or $35.16 per boe. Lease operating expenses ("LOE") for the first quarter were $30.0 million. Adjusted direct operating expenses (1) were $64.2 million, or $14.63 per boe, which consist of LOE, gathering, processing, and transportation ("GPT") expenses, production and ad valorem taxes, and cash general and administrative ("G&A") expenses, excluding DD&A and significant special charges. A breakdown of operating expenses can be found in additional tables included in this release.

1 Adjusted net income, Adjusted EBITDAX and Adjusted direct operating expenses are non-GAAP supplemental financial measures. See the definitions and reconciliation to their most comparable GAAP measures within this release.





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