Range Resources Corporation reports recurring developments tied to its Appalachian Basin natural gas and NGL production business. Company news commonly covers quarterly operating and financial results, production mix, capital spending, realized commodity prices, basis and hedging impacts, NGL realizations, and marketing arrangements for U.S. and international demand.
Range Resources updates also address shareholder-return actions such as dividends and common-stock repurchases, debt reduction, reserve and guidance commentary, and board or governance matters. The company is an independent U.S. exploration and production company whose common stock trades on the New York Stock Exchange under the symbol RRC.
Range Resources Corporation (NYSE: RRC) announced cash tender offers to purchase up to $400 million of its outstanding senior and subordinated notes. The offers focus on various notes due in 2021, 2022, and 2023, with specific amounts and premium incentives outlined in an Offer to Purchase dated August 18, 2020. The tender offers are funded by proceeds from a proposed debt securities offering. The Early Tender Date is set for August 31, 2020, with a potential maximum tender cap for certain notes. The offers will expire on September 15, 2020, unless extended.
Range Resources Corporation (NYSE: RRC) announced a plan to offer $200 million of 9.250% senior notes due 2026 in a private placement. This follows the initial issuance of $550 million of similar notes in January 2020. The company is also initiating tender offers to purchase up to $400 million of its outstanding senior notes with proceeds from the new notes and bank credit facility borrowings. The new notes will not be registered under the Securities Act, targeting qualified institutional buyers and international purchasers.
Range Resources Corporation (NYSE: RRC) reported its Q2 2020 financial results, highlighting a GAAP revenue of $377 million and an adjusted earnings loss of $25 million ($0.10 per share). Well costs fell below $600 per lateral foot, the lowest in Appalachia. The company improved its cash unit costs by 14% year-over-year. Range signed a purchase agreement to sell its North Louisiana assets for $245 million, aiming to enhance capital efficiency. Production averaged 2,349 Mmcfe per day, with a significant focus on reducing debt and maintaining a strong balance sheet.
Range Resources Corporation (NYSE: RRC) will release its second quarter 2020 financial results on August 3, after market close. A conference call is set for August 4 at 9:00 a.m. ET, allowing stakeholders to review the results. The company leverages an organic development strategy focused on high-return, low-cost projects within its extensive drilling inventory in the Appalachian Basin. The webcast will be available for replay until September 4, 2020.
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