Roan Resources Inc. has entered into a definitive merger agreement to be acquired by Citizen Energy Operating LLC, an affiliate of Warburg Pincus LLC, in an all-cash transaction valued at approximately $1 billion, including Roan’s funded net debt of approximately $780 million at press time.

The transaction is expected to be completed during the fourth quarter of 2019 or the first quarter of 2020, subject to Roan stockholder approval, regulatory approvals and the satisfaction of other customary closing conditions.

Under the terms of the merger agreement, which has been unanimously approved by Roan’s board of directors, Roan stockholders will receive $1.52 in cash for each share of Roan common stock they own.

“We are pleased to reach this agreement with Citizen Energy,” said Joseph A. Mills, Roan’s executive chairman of the board. “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.”

For more information, visit www.roanresources.com or https://citizenenergyok.com.