Range Resources - RRC STOCK NEWS

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.

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.