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Roan Resources Announces it Has Engaged Citigroup and Jefferies to Assist with Strategic Alternatives Review


OKLAHOMA CITY–(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.



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