We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Ranger Oil Corporation (“Ranger Oil” or the “Company”) (NASDAQ: ROCC) in connection with its merger with Baytex Energy Corp. (“Baytex”).  Under the merger agreement, the Company’s shareholders will receive $13.31 in cash and 7.49 shares of Baytex common stock for each Company share, representing implied per-share consideration of $38.85 based upon Baytex’s May 19, 2023 closing price of $3.41.  Upon completion of the transaction, Baytex shareholders will own 63% of the combined company, while Ranger Oil shareholders will only own 37% of the combined company.

Weiss Law is investigating whether (i) Ranger Oil’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per share merger consideration adequately compensates Ranger Oil’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.