Oklahoma City-based Roan Resources Inc. said it has formed a board committee to evaluate a potential sale or merger after receiving multiple unsolicited offers.

The company, which is focused exclusively on the stacked plays within the Anadarko Basin, said it would consider all of the potential offers and would mandate an investment bank in the near future. However, management has not set a deadline.

“We believe consolidation in the core of the basin through a sale or merger combination could be value enhancing on many levels and could provide a more expeditious path to maximizing long term shareholder value,” said Executive Chairman Joseph Mills.

Roan holds 172,000 net acres in Central Oklahoma with 25,200 net acres in the South Central Oklahoma Oil Province, aka the SCOOP, and 7,400 net acres in the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties, aka the STACK. Sandwiched between them, it has 114,700 net acres as the Merge prospect, a legacy area with several pay zones.

News of the unsolicited offers comes two weeks after Tony Maranto resigned as CEO. Maranto had been at the helm since its formation last year by Linn Energy Inc., Roan Holdings LLC and Roan LLC. Mills was appointed executive chairman in mid-April.

Roan announced last March that it planned to generate free cash flow by 4Q2019 while boosting production about 30% year/year.