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E&P firm Roan Resources hires advisers to evaluate merger, takeover offers

Oklahoma-based oil and gas company Roan Resources Inc. disclosed May 20 that it has engaged Citigroup Global Markets Inc. and Jefferies LLC to assist in evaluating strategic alternatives following indications of interest for a potential acquisition of the company.

The company said it has formed a transactional working committee, which will be assisted by legal and financial advisers, that will consider all strategic alternatives with a focus on maximizing shareholder value.

Roan has not set a timetable for the completion of evaluations and said in the news release that it will not comment further until the board of directors has approved a course of action or until it is appropriate or required by law to disclose.

Roan Resources' exploration and production operations are focused in the Merge, SCOOP and STACK plays of the Anadarko Basin in Oklahoma.