Range Publishes 2023-2024 Corporate Sustainability Report

Rhea-AI Summary

Range Resources (NYSE: RRC) has published its 2023-2024 Corporate Sustainability Report, highlighting significant progress in environmental stewardship, community impact, safety leadership, and responsible governance. Key achievements include:

• 67% reduction in methane emissions intensity since 2019
• Exceeded goal of reducing GHG emission intensity by 15% relative to 2019 levels
• Recycled approximately 100% of 11.2 million barrels of flowback and produced water
• Received an 'A' grade rating from MiQ for Southwest Pennsylvania operations
• Invested $985,000 in communities, including $159,500 to first responders
• Achieved 0.00 Total Recordable Incident Rate (TRIR) and 0.00 Days Away, Restricted, or Transferred (DART) rate
• Earned a 'AAA' ESG Rating from MSCI

Range remains committed to merging long-term economic objectives with environmental and social responsibility, positioning itself as a low-cost, resilient producer with a competitive emissions profile.

FORT WORTH, Texas, July 17, 2024 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today published its 2023-2024 Corporate Sustainability Report. The latest report provides updates on key topics showcasing the Company’s responsible business practices and its resiliency in the coming decades.

“We have found success in merging long-term economic objectives with a commitment to environmental and social responsibility, which positions Range as a low-cost, resilient producer with a competitive emissions profile,” said Dennis Degner, Chief Executive Officer and President. “Natural gas and natural gas liquids are being produced more efficiently than ever and will continue to play a meaningful role in global energy discussions. I believe the latest report showcases Range’s sustainability in a world that requires cleaner, safer, more efficient fuels that can affordably meet growing energy demand domestically and abroad.”

Emissions Progress

Range has made significant strides in meeting its emissions targets, including progress towards its goal of net-zero scope 1 and 2 GHG emissions by 2025. Range employees have implemented processes and equipment improvements that have driven overall GHG emissions, including methane emissions, to record lows for the Company. These improvements include an enhanced Leak Detection and Repair (LDAR) survey program, the adoption of zero-emission pneumatic controller designs on new well sites, and a dedicated Emissions Reduction Work Group. With a continued focus on emissions avoidance and reduction, Range expects to remain at the lowest end of the global emissions intensity curve.

Corporate Sustainability Report Highlights

Environmental Stewardship

• 67% reduction in methane emissions intensity since 2019
• Exceeded initial goal of reducing GHG emission intensity by 15% relative to 2019 levels
• Recycled approximately 100% of the 11.2 million barrels of flowback and produced water generated from Range operations
• Completed MiQ re-certification process with an “A” grade rating for the second consecutive year for the Company’s Southwest Pennsylvania operations

Community Impact

• Paid nearly $5 billion in impact fees, royalty and lease payments, and charitable contributions over the last 20 years benefiting local Pennsylvania communities
• Invested $985,000 into our communities including $159,500 to first responders through Range’s Good Neighbors Fund

Safety Leadership

• 0.00 Total Recordable Incident Rate (TRIR)
• 0.00 Days Away, Restricted, or Transferred (DART) rate
• Range employees completed more than 3,400 hours of safety-related training
  

Responsible Governance

• Board of Directors ESG and Safety Committee, comprised of every independent director provides enhanced oversight
• Earned a “AAA” ESG Rating from MSCI
• Ranked 1^st among Appalachian producers, earning “Industry Best” in the Environmental category in JUST Capital’s Most JUST Companies rankings
• For the third consecutive year, Range was included in Newsweek Magazine’s annual list of America’s Most Responsible Companies

The full Corporate Sustainability Report is available at www.rangeresources.com/sustainability.

About Range Resources’ 2023-2024 Sustainability Report

Range’s Sustainability Report incorporates feedback from key stakeholders and was developed in alignment with current best practice sustainability reporting standards and frameworks, which include guidelines and recommendations by the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), the IPIECA (formerly known as the International Petroleum Industry Environmental Conservation Association), the TCFD framework, and the American Exploration & Production Council (AXPC) ESG Metrics Framework.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

Included within this release are certain “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not limited to historical facts, but reflect Range’s current beliefs, expectations or intentions regarding future events. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “outlook”, “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements.

All statements, except for statements of historical fact, made herein regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, expected asset sales, well productivity, future emissions and carbon offsets, future liquidity and financial resilience, anticipated exports and related financial impact, natural gas and NGL market supply and demand, improving commodity fundamentals and pricing, future capital efficiencies, future shareholder value, emerging plays, capital spending, anticipated drilling and completion activity, acreage prospectivity, expected pipeline utilization and future guidance information, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and Range's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements. Further information on risks and uncertainties is available in Range's filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K. Unless required by law, Range undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

SOURCE: Range Resources Corporation

Range Investor Contact:

Laith Sando, Vice President – Investor Relations
817-869-4267
lsando@rangeresources.com

Range Media Contact:

Mark Windle, Director of Corporate Communications
724-873-3223
mwindle@rangeresources.com

FAQ

What are Range Resources' (RRC) key environmental achievements in the 2023-2024 Corporate Sustainability Report?

Range Resources (RRC) reported a 67% reduction in methane emissions intensity since 2019, exceeded its goal of reducing GHG emission intensity by 15% relative to 2019 levels, and recycled approximately 100% of 11.2 million barrels of flowback and produced water.

How much did Range Resources (RRC) invest in communities according to the 2023-2024 report?

According to the 2023-2024 Corporate Sustainability Report, Range Resources (RRC) invested $985,000 into communities, including $159,500 to first responders through their Good Neighbors Fund.

What safety records did Range Resources (RRC) achieve in 2023-2024?

Range Resources (RRC) achieved a 0.00 Total Recordable Incident Rate (TRIR) and a 0.00 Days Away, Restricted, or Transferred (DART) rate, demonstrating exceptional safety performance.

What ESG ratings did Range Resources (RRC) receive in the 2023-2024 report?

Range Resources (RRC) earned a 'AAA' ESG Rating from MSCI and received an 'A' grade rating from MiQ for its Southwest Pennsylvania operations for the second consecutive year.

How much has Range Resources (RRC) paid in impact fees, royalties, and charitable contributions over the last 20 years?

Range Resources (RRC) has paid nearly $5 billion in impact fees, royalty and lease payments, and charitable contributions over the last 20 years, benefiting local Pennsylvania communities.