 -- Provides Updated Plans for Combined Company -- -- Continued Focus on Efficiency, Returns and Free Cash Flow Generation -- HOUSTON, Oct. 06, 2021 GLOBE NEWSWIRE -- Penn Virginia Corporation Penn Virginia or the Company NASDAQ: PVAC today announced it closed the acquisition of Lonestar Resources US Inc. Lonestar and plans to rename the combined company Ranger Oil Corporation Ranger, Ranger Oil or the Company. The Company also announced plans for future operational activity, changes to the composition of its Board of Directors, and a reset of certain Lonestar hedges. The Company maintains focus on maximizing operational and capital efficiency, generating superior returns, and building on its consistent track record of free cash flow generation, which it has sustained every quarter since fourth quarter 2019. 