Range Announces Credit Facility Renewal and Extension
April 16 2018 - 8:30AM
RANGE RESOURCES CORPORATION (NYSE:RRC) today
announced that it has renewed and extended its revolving credit
facility. The new five-year agreement with a syndicate of
twenty-seven financial institutions has a maximum facility size
of $4 billion and maintains a borrowing base of $3
billion with $2 billion in commitments. The
agreement maintains existing borrowing costs and structure,
including the option to release all collateral upon the receipt of
a single investment grade rating. The maturity of the facility was
extended to April 13, 2023.
Roger S. Manny, Range's Executive Vice President
& CFO, commented, “The credit facility renewal and five-year
extension was significantly over-subscribed, demonstrating the
quality of Range’s assets and confidence in the Company’s
creditworthiness. The credit facility provides committed
long-term liquidity from a highly diversified group of experienced
energy lenders. We believe the renewed and extended credit
facility allows us to focus on further strengthening the balance
sheet while supporting the development of our high-quality
assets.”
RANGE RESOURCES CORPORATION
(NYSE:RRC) is a leading U.S. independent natural gas, NGL and oil
producer with operations focused in stacked-pay projects in the
Appalachian Basin and North Louisiana. The Company pursues an
organic growth strategy targeting high return, low-cost projects
within its large inventory of low risk development drilling
opportunities. The Company is headquartered in Fort Worth, Texas.
More information about Range can be found at
www.rangeresources.com.
Range Investor Contacts:
Laith Sando, Vice President – Investor
Relations817-869-4267lsando@rangeresources.com
David Amend, Investor Relations Manager
817-869-4266damend@rangeresources.com
Michael Freeman, Investor Relations
Manager817-869-4264mfreeman@rangeresources.com
Josh Stevens, Senior Financial
Analyst817-869-1564jrstevens@rangeresources.com
or
Range Media Contact:
Michael Mackin, Director of External Affairs
724-743-6776mmackin@rangeresources.com
www.rangeresources.com
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