Range Resources Publishes Updated Corporate Sustainability Report
July 27 2022 - 6:00AM
RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range”
or the “Company”) today announced the publication of its 2021-2022
Corporate Sustainability Report. The latest Corporate
Sustainability Report provides data on a variety of topics of
interest to our stakeholders and is a reflection of our corporate
culture and the responsible approach Range takes in providing an
essential product to consumers around the world.
“We believe that our energy future will continue
to be more diverse and can only be sustained with additional
natural gas development. Natural gas produced in Appalachia has the
best track record to answer that call,” said Jeff Ventura, CEO and
President. “Third-party research shows that Range is at the top of
its class, ranking first with the lowest CO2e emissions intensity
amongst our closest peers and the rest of the global upstream
industry. When combined with our class-leading inventory, we
believe Range is well positioned to help provide long-term energy
solutions for the world.”
Net Zero Goal
The Company continues to make important progress
towards our goal of net zero Scope 1 and 2 Greenhouse Gas (GHG)
emissions by 2025. We remain focused on our direct emissions
through continued emissions reduction efforts, including evaluation
and implementation of new technology and engineering solutions,
along with appropriate carbon offsets, such as reforestation and
forest management.
Corporate Sustainability Report Highlights
Emissions Reduction
In this year’s report, we are providing
additional perspective regarding Range’s total direct emission
profile by sharing emissions data associated with the development
phase and the production phase of our activity. We believe this
additional detail allows Range and our stakeholders to better
understand the nature of our emissions along with plans and
opportunities for further reduction.
- Development Intensity reduced by 31% since 2018
- Production Intensity reduced by 56% since 2018
Corporate Governance
- Proactive, ongoing outreach to shareholders soliciting feedback
on ESG efforts
- 70 percent of Directors have Environmental/Health/Safety
skillsets
- Utilize the National Institute of Standards and Technology
Cybersecurity Framework (NIST CSF), which allows benchmarking and
regular measuring of our profile
Safety Leadership
- 0.00 Days Away, Restricted or Transferred (DART) for Range
Employees and 0.34 DART for Range Contractors in 2021
- Range employees completed 2,500 hours of safety-related
training in 2021
Climate Change
- Ranks lowest in CO2e emissions intensity in a group of our 11
proxy peers
- Earned Gold ratings at each of the four well pads certified by
Project Canary’s TrustWell™ process
- Range’s Pennsylvania production emissions decreased more than
48 percent since 2018
- Increasing LDAR inspections to 8 times per year in 2022
- Achieved a 58 percent decrease in our overall GHG emissions
since 2018
- Reduced methane emission intensity by 75 percent
Environmental Stewardship
- 61.2 acres enrolled into Range’s Habitat Enhancement
Program
- Recycled 147 percent of produced water and flowback volume
through our water sharing program in 2021
Community Impact
- Paid over $3.3 billion (2006 – 2021) through impact fees,
royalty and lease payments, and charitable contributions
- Volunteered more than 675 employee hours in 2021
Human Capital
- Named to Newsweek Magazine’s 2022 America’s Most Responsible
Companies list
- Annual Diversity, Equity, and Inclusion training for all
employees
The full Corporate Sustainability Report is available at
https://csr.rangeresources.com.
About Range Resources’ 2021-2022
Sustainability Report
Range’s Sustainability Report incorporates
multiple best practice sustainability reporting standards and
frameworks. Guidelines and recommendations by the Global Reporting
Initiative (GRI), the Sustainability Accounting Standards Boards
(SASB), Task Force on Climate-related Financial Disclosures (TCFD),
and IPIECA’s (formerly known as the International Petroleum
Industry Environmental Conservation Association) sustainability
reporting guidance have all been considered for the creation of
this report.
RANGE RESOURCES CORPORATION (NYSE:
RRC) is a leading U.S. independent natural gas and NGL
producer focused on stacked-pay projects 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
Relations817-869-4267lsando@rangeresources.com
Range Media Contact:
Mark Windle, Director of Corporate
Communications724-873-3223mwindle@rangeresources.com
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