Range Resources Stock Price, News & Analysis

Range Resources Corporation (NYSE: RRC) announced the pricing of a $600 million offering of senior notes due 2029, with an interest rate of 8.25%. The net proceeds, estimated at $590.8 million, will primarily be used for general corporate purposes, including repayment of borrowings. This offering increased in size from the initially planned $500 million. The transaction is set to close on January 8, 2021. The notes have not been registered under the Securities Act and are being offered to qualified institutional buyers and non-U.S. persons only.

Range Resources Corporation (NYSE: RRC) has announced its intention to offer $500 million in senior notes due 2029, pending market conditions. The funds will be used for general corporate purposes, including repaying existing borrowings under its bank credit facility. The offering is targeted at qualified institutional buyers and non-U.S. persons, and the notes have not been registered with the SEC. This press release contains forward-looking statements that involve risks and uncertainties, including fluctuating oil and gas prices and operational risks.

Range Resources Corporation (NYSE: RRC) reported its Q3 2020 results, revealing a GAAP loss of $680 million and non-GAAP revenues of $510 million. Notably, well costs averaged below $600 per foot, representing the lowest in Appalachia. The company reduced its 2020 capital spending forecast by at least $15 million, achieving a total capital expenditure of $63.5 million. After selling North Louisiana assets for $245 million, Range improved its financial position by extending debt maturities and maintaining a $3 billion borrowing base, positioning itself favorably for 2021 amid an improved natural gas price outlook.

Range Resources Corporation (NYSE: RRC) is set to release its third quarter 2020 financial results on Thursday, October 29, after the NYSE trading closes. A conference call to discuss these results is scheduled for Friday, October 30, at 9:00 a.m. ET, with a webcast available for access.

Range Resources is a prominent U.S. independent natural gas and NGL producer, focusing on low-cost, high-return projects in the Appalachian Basin. For more information, visit www.rangeresources.com.

Range Resources Corporation (NYSE: RRC) announced a long-term ethane supply agreement with PTTGC America LLC for a proposed ethylene cracker in Appalachia. This agreement is contingent on PTTGCA's final investment decision expected in early 2021. Range will supply 15,000 barrels per day of ethane sourced from existing production, which is projected to boost revenue compared to selling into the natural gas market. The project aims to create local jobs and represents a significant investment for the region.

Range Resources Corporation (NYSE: RRC) has announced results of its cash tender offers aiming to purchase up to $500 million of outstanding notes. As of August 31, 2020, approximately $863.6 million in notes were validly tendered. Key notes include 5.750% senior notes due 2021 and 5.000% senior notes due 2022, with a total consideration and early tender premium provided to holders. The tender offers, set to expire on September 15, 2020, face a proration factor of approximately 25.2% for 2023 notes due to overwhelming tenders.

Range Resources Corporation (NYSE: RRC) has announced a pricing of $300 million in senior notes with a 9.250% interest rate due in 2026, increasing from an initial $200 million offering. The net proceeds from this offering, approximately $294.6 million, will finance tender offers for up to $500 million in outstanding notes and repay bank borrowings. The tender offer includes adjustments to increased consideration per noted amounts. Closing of the sale is expected on September 1, 2020. The New Notes are unregistered and offered under specific regulations.

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.