Warburg Pincus-backed Citizen Energy to acquire Roan Resources for $1bn.

Warburg Pincus-backed Citizen Energy agreed to acquire Roan Resources, an independent oil and natural gas company headquartered in Oklahoma City, for $1bn. “This transaction is the culmination of our Board’s extensive review of strategic alternatives to maximize value for our stockholders, including a comprehensive process during which we engaged with a considerable number of counterparties. Ultimately, the Board unanimously determined that an all-cash transaction with Citizen Energy is in the best interests of our stockholders and the Company and will deliver value to our stockholders at a premium to our recent share price.” Joseph A. Mills, Roan’s Executive Chairman of the Board.