Range Resources Corp. said late Monday it sold a 1% overriding royalty interest in its leases for core properties in Southwest Pennsylvania for $300 million to an undisclosed buyer as part of ongoing efforts to reduce leverage.
Articles from Range
Range Resources Corp. has agreed to add two independent directors to its board with the oversight and approval of one of the largest shareholders, SailingStone Capital Partners LLC.
More than half of Anadarko Petroleum Corp. shareholders voted in favor of a resolution calling for the company to publish an assessment on how its portfolio could be affected by climate change, and most of Range Resources Corp.’s stockholders in their annual meeting gained approval for more information about methane emissions.
A binding open season to test support to expand natural gas liquids (NGL) takeaway on the Texas Express Pipeline from the Denver-Julesburg (DJ) Basin to the Gulf Coast, is launching Friday, according to the sponsors.
Range Resources Corp. is taking a hard look at its portfolio as it pursues multiple asset sales to help delever its balance sheet, with properties being marketed in northeast Pennsylvania and the Midcontinent. Management also has not ruled out unloading some core inventory that isn’t in the development plans anytime soon.
Another shareholder is pushing Range Resources Corp. to more openly share its methane emissions reduction efforts, calling on the company to conduct and release a report by September that details how it’s managing the pollutant.
Range Resources Corp.’s multi-billion dollar bet on North Louisiana’s Cotton Valley Sands Terryville Complex is for now a losing one, with management this week again acknowledging poor results and highlighting plans to scale back operations to learn more about the play and salvage the program.
Range Resources Corp. plans to cut its budget and spend within projected cash flow this year to continue sending a message of capital discipline that is trending among other exploration and production companies across the country.
Range Resources Corp.has announced that CFO Roger S. Manny plans to retire in May after 14 years working on the company’s senior management team. The company has appointed Mark S. Scucchi, currently vice president of finance, to serve as his replacement. Scucchi joined Range in 2008 to work in corporate finance, treasury and planning. He previously worked in commercial and investment banking services at JPMorgan Securities Inc.