Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - RANGE RESOURCES CORP | d82184e8vk.htm |
| EX-1.1 - EX-1.1 - RANGE RESOURCES CORP | d82184exv1w1.htm |
Exhibit 99.1
NEWS RELEASE
RANGE ANNOUNCES PRICING OF SENIOR SUBORDINATED NOTES
FORT WORTH, TEXAS, MAY 11, 2011...RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that
it has priced an offering of $500 million aggregate principal amount of senior subordinated notes
due 2021, which will carry an interest rate of 53/4%. Range expects that the net proceeds of the
offering will be approximately $490.8 million and intends to use a portion of the net proceeds from
the offering to purchase any and all of the outstanding $150 million aggregate principal amount of
Range’s 6?% Senior Subordinated Notes due 2015 and outstanding $250 million aggregate principal
amount of Range’s 71/2% Senior Subordinated Notes due 2016, pursuant to separately announced tender
offers and to redeem any of such outstanding notes not acquired in the tender offers. Range
intends to use the remaining net proceeds for general corporate purposes. Range expects to close
the sale of the notes on May 25, 2011, subject to the satisfaction of customary closing conditions.
The size of the offering was increased from the previously announced $400 million to $500 million.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo
Securities, LLC are acting as joint book-running managers for the senior subordinated notes
offering. A copy of the final prospectus supplement and related base prospectus for the offering
may be obtained on the SEC website at www.sec.gov. Alternatively, the underwriters will arrange to
send you the final prospectus supplement and related base prospectus if you request them by
contacting J.P. Morgan Securities LLC at 383 Park Avenue, 3rd Floor, New York, New York 10179,
attention Syndicate Desk or via phone at 1-800-261-5767, Merrill Lynch, Pierce, Fenner & Smith
Incorporated at 4 World Financial Center, 7th Floor, New York, NY 10080, attention: Prospectus
Department, or via phone at 1-800-294-1322, or by e-mailing
dg.prospectus_distribution@bofasecurities.com, or Wells Fargo Securities, LLC at 1525 West W.T.
Harris Blvd., MAC D1109-010, Charlotte, North Carolina, 28262, Attention: Syndicate Operations, or
via phone at 1-800-326-5897.
RANGE RESOURCES CORPORATION (NYSE: RRC) is an independent natural gas company operating in the
Appalachia and Southwest regions of the United States.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of
the senior subordinated notes referred to above. An offering of any such securities will be made only
by means of a prospectus. Any such prospectus shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
Except for historical information, statements made in this release about the proposed offering are
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and
estimates that Range’s 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, including, but not limited to, the volatility of oil and gas
prices, the results of our hedging transactions, the costs and results of drilling and operations,
the timing of production, mechanical and other inherent risks associated with oil and gas
production, weather, the availability of drilling equipment, changes in interest rates, litigation,
uncertainties about reserve estimates, environmental risks and regulatory changes. Range
undertakes no obligation to publicly update or revise any forward-looking statements. Further
information on risks and uncertainties is available in Range’s filings with the SEC, which are
incorporated herein by reference.
| 2011-18 | ||||||||
Contacts: |
Rodney Waller, Senior Vice President | 817-869-4258 | ||||||
| David Amend, Investor Relations Manager | 817-869-4266 | |||||||
| Laith Sando, Senior Financial Analyst | 817-869-4267 |
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