Roan Resources Announces it Has Engaged Citigroup and Jefferies to Assist with Strategic Alternatives Review
May 20 2019 - 8:00AM
Business Wire
Roan Resources, Inc. (NYSE: ROAN) (“Roan” or the “Company”)
today announced that it has engaged Citigroup Global Markets Inc.
(“Citi”) and Jefferies LLC (“Jefferies”), to assist the Company in
evaluating strategic alternatives.
As previously announced on April 29, 2019, the Company has
received multiple unsolicited indications of interest for an
outright purchase of the Company, as well as inbound inquiries from
potential consolidation partners, and has formed a transactional
working committee (the “Committee”) of its Board to evaluate
potential strategic alternatives for the Company. Since that date,
the Company has continued to receive additional inquiries for an
outright purchase of the Company. The Committee, assisted by its
legal and financial advisors, will consider all strategic
alternatives, with the primary focus on maximizing shareholder
value.
Joseph A. Mills, Roan’s Executive Chairman of the Board stated,
“The Committee is very pleased to be working with our advisors to
assist us in navigating and evaluating all potential strategic
options. We will continue to focus on a path that will bring the
most value forward for our shareholders.”
There can be no assurance that such evaluation will result in
one or more transactions or other strategic change or outcome. The
Company has not set a timetable for the conclusion of its
evaluation of strategic alternatives, and it does not intend to
comment further unless and until the Board has approved a specific
course of action or the Company has otherwise determined that
further disclosure is appropriate or required by law.
About Roan Resources
Roan is an independent oil and natural gas company headquartered
in Oklahoma City, OK focused on the development, exploration and
acquisition of unconventional oil and natural gas reserves in the
Merge, SCOOP and STACK plays of the Anadarko Basin in Oklahoma. For
more information, please visit www.RoanResources.com, where we
routinely post announcements, updates, events, investor
information, presentations and recent news releases.
Cautionary Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact,
are forward-looking statements. Forward-looking statements include
information concerning our business strategies, strategic
alternatives evaluation process, plans and objectives, future
financial performance, planned operational objectives and other
matters. These statements often include words such as “believe,”
“expect,” “anticipate,” “consider,” “explore,” “continue,”
“potential,” “intend,” “focus,” “plan,” “estimate,” “evaluate,”
“will,” “may,” “should,” “could,” “execute,” “deliver,” or similar
expressions. These forward-looking statements are based on certain
assumptions and expectations made by the Company, which reflect
management’s experience, estimates and perception of historical
trends, current conditions and anticipated future developments.
These statements are expressed in good faith and we believe these
judgements are reasonable. However, you should understand that
these statements are not guarantees of performance or results. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company,
which may cause actual results to differ materially from those
implied or anticipated in the forward-looking statements. When
considering these forward-looking statements, you should keep in
mind the risk factors and other cautionary statements found in the
Company’s filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K, and any subsequently
filed quarterly reports on Form 10-Q or current reports on Form
8-K.
We caution you that these forward-looking statements are subject
to all of the risks and uncertainties, most of which are difficult
to predict and many of which are beyond our control, or incidental
to the development, production, gathering and sale of oil, natural
gas and NGLs. These risks include, but are not limited to, the
expectations of plans, strategies, objectives and growth and
anticipated financial and operational performance, the structure
and timing of any transaction or strategic alternative and whether
any transaction or strategic alternative will be completed,
commodity price volatility, inflation, lack of availability of
drilling and production equipment and services, environmental
risks, drilling and other operating risks, regulatory changes, the
uncertainty inherent in estimating reserves and in projecting
future rates of production, cash flow and access to capital, the
timing of development expenditures and the other risks.
Should one or more of the risks or uncertainties described
occur, or should underlying assumptions prove incorrect, our actual
results and plans could differ materially from those expressed in
any forward-looking statements.
All forward-looking statements, expressed or implied, included
in this release are expressly qualified in their entirety by this
cautionary statement. This cautionary statement should also be
considered in connection with any subsequent written or oral
forward-looking statements that we or persons acting on our behalf
may issue.
Except as otherwise required by applicable law, we disclaim any
duty to update any forward-looking statements, all of which are
expressly qualified by the statements in this section, to reflect
events or circumstances after the date of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190520005344/en/
Alyson GilbertInvestor Relations
Manager405-896-3767IR@RoanResources.com
Roan Resources (NYSE:ROAN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Roan Resources (NYSE:ROAN)
Historical Stock Chart
From Apr 2023 to Apr 2024