Range Resources Releases Updated Corporate Sustainability Report

Rhea-AI Summary

Range Resources Corporation completes MiQ Certification with an 'A' grade and publishes its 2022-2023 Corporate Sustainability Report. The report highlights progress in reducing GHG emissions, methane emissions intensity, and water recycling. Range also invests in carbon credits and receives recognition for corporate governance and safety leadership.

Positive

• Range Resources Corporation completes MiQ Certification with an 'A' grade, validating its commitment to managing methane emissions.
• Range reduces methane emissions intensity by 67 percent since 2019.
• Range ranks second lowest in CO2e emissions intensity among peers.
• Range has recycled 142 percent of produced water and flowback volume through a water reuse and sharing program.
• Range is recognized as one of JUST Capital's Most Just Companies and is named to Newsweek Magazine's 2023 America's Most Responsible Companies List.
• Range employees completed over 3,100 hours of safety-related training and achieved 0.0 Days Away, Restricted, or Transferred (DART).
• Range has paid over $4.5 billion in impact fees, royalty and lease payments, and charitable contributions benefiting Pennsylvanians and Pennsylvania communities through 2022.
• Range has contributed over 1,480 employee volunteer hours and invested $764,000 into local communities, including donations to first responders through Range's Good Neighbors Fund.
• Range employees completed an average of 14.5 hours of training and introduced a new mental health benefit for employee well-being.

Negative

• None.

MiQ Certification Completed – Earning an “A” Grade

FORT WORTH, Texas, July 19, 2023 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) today published its 2022-2023 Corporate Sustainability Report. The latest report provides updates on topics significant to our stakeholders and an update on our emissions goals.

“Range, our board of directors and shareholders are closely aligned on our sustainability strategy. We are proud of the progress we continue to make against our sustainability goals, and we are grateful to our dedicated teams at Range for their significant contributions,” said Dennis Degner, Chief Executive Officer and President. “A commitment to being a responsible, transparent operator is core to Range and we remain confident in the resiliency and durability of the company, our people and our ability to generate long-term value.”

MiQ Certification

Range completed an audit against MiQ Standard v1.0, an independent framework for assessing methane emissions performance from the production of natural gas. This annual certification validates the Company’s commitment to managing, reducing, and accurately reporting methane emissions. The audit covered Range’s southwest Pennsylvania assets and received an “A” grade. The achievement reflects Range’s commitment to managing, reducing, and accurately reporting methane emissions from its operations and marks the next step toward the increased usage of certified natural gas.

High-Quality Carbon Offsets

As Range continues to make progress towards reducing overall GHG emissions, it has begun making investments in carbon credits to offset its low emissions intensity program. A key component of our initial contracting was partnering with C-Quest Capital, an award-winning global carbon project developer, to replace existing cooking stoves in sub-Saharan Africa with cleaner and more efficient cookstoves. The deployment of these cookstoves provides a variety of social and humanitarian benefits in addition to reducing carbon emissions.

Corporate Sustainability Report Highlights

Environmental Stewardship

• Continued progress towards stated goal of net zero Scope 1 and Scope 2 GHG Emissions by 2025 through continued GHG emissions reduction efforts, including the purchasing and contracting of carbon credits across a diverse set of high-quality projects
• Reduced methane emissions intensity by 67 percent since 2019
• Ranked second lowest in CO2e emissions intensity in a group of 11 peers as a result of investments in emissions management and advantageous position relative to other operating regions
• Recycled 142 percent of produced water and flowback volume through water reuse and sharing program

Corporate Governance

• Recognized as one of JUST Capital’s Most Just Companies
• Named to Newsweek Magazine’s 2023 America’s Most Responsible Companies List

Safety Leadership

• Range employees completed more than 3,100 hours of safety-related training
  

Achieved 0.0 Days Away, Restricted, or Transferred (DART)

Community Impact

• Paid over $4.5 billion in impact fees, royalty and lease payments, and charitable contributions benefiting Pennsylvanians and Pennsylvania communities through 2022
• Contributed over 1,480 employee volunteer hours in support of charitable and community organizations
• Invested $764,000 into local communities, including over $155,000 donated to first responders through Range’s Good Neighbors Fund
  

Human Capital

• Employees completed 14.5 hours of training on average
• Introduced new Lyra mental health benefit to support employee well-being

The full Corporate Sustainability Report is available at https://csr.rangeresources.com.

About Range Resources’ 2022-2023 Sustainability Report

Range’s Sustainability Report incorporates multiple best practice sustainability reporting standards and frameworks. This report 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), and the IPIECA (formerly known as the International Petroleum Industry Environmental Conservation Association).

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 is the MiQ Certification?

The MiQ Certification is an independent framework for assessing methane emissions performance from the production of natural gas. Range Resources Corporation completed the audit and received an 'A' grade.

What are Range's sustainability goals?

Range Resources Corporation aims to achieve net zero Scope 1 and Scope 2 GHG emissions by 2025 and has made progress in reducing methane emissions intensity.

What recognition has Range received?

Range Resources Corporation is recognized as one of JUST Capital's Most Just Companies and is named to Newsweek Magazine's 2023 America's Most Responsible Companies List.

What is Range's impact on the community?

Range has paid over $4.5 billion in impact fees, royalty and lease payments, and charitable contributions benefiting Pennsylvanians and Pennsylvania communities through 2022. They have also contributed over 1,480 employee volunteer hours and invested $764,000 into local communities.

What is the safety record of Range employees?

Range employees completed over 3,100 hours of safety-related training and achieved 0.0 Days Away, Restricted, or Transferred (DART).

What is Range's approach to water recycling?

Range has recycled 142 percent of produced water and flowback volume through a water reuse and sharing program.

What is the new mental health benefit introduced by Range?

Range has introduced the Lyra mental health benefit to support employee well-being.