Form 8-K - Current report

false000031585200003158522023-07-132023-07-13

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 13, 2023 (July 13, 2023)

RANGE RESOURCES CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-12209	34-1312571
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
100 Throckmorton Street, Suite 1200 Fort Worth, Texas		76102
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: [phone]

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value		RRC		New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

---

 

ITEM 2.02. Results of Operations and Financial Condition.

 

The following table summarizes the net derivative fair value income that Range Resources Corporation expects to report in earnings for the three months ended June 30, 2023 (in thousands):

		Three Months Ended June 30,
		2023
Derivative fair value income per consolidated statements of operations	$	123,734
Non-cash fair value income (loss):
Natural gas derivatives	$	42,622
Oil derivatives		5,546
Divestiture contingent consideration		(1,020	)
Total non-cash fair value income	$	47,148
Net cash receipt (payment) on derivative settlements:
Natural gas derivatives (1)	$	77,725
Oil derivatives		(1,139	)
Total net cash receipt	$	76,586

(1)

Includes income of $91.7 million related to settled NYMEX natural gas derivatives and a loss of $14.0 million related to settled natural gas basis derivatives.

The information contained in this current report shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, nor shall it be deemed incorporated by reference into any registration statement or other filing pursuant to the Securities Act of 1933, except as otherwise expressly stated in such filing.

2

---

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

RANGE RESOURCES CORPORATION
By:	/s/ MARK S. SCUCCHI
	Mark S. Scucchi
	Executive Vice President-Chief Financial Officer

Date: July 13, 2023

 

 

 

3

---

Document and Entity Information	Jul. 13, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 13, 2023
Entity Registrant Name	RANGE RESOURCES CORP
Entity Central Index Key	0000315852
Entity Emerging Growth Company	false
Entity File Number	001-12209
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	34-1312571
Entity Address, Address Line One	100 Throckmorton Street
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Fort Worth
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76102
City Area Code	817
Local Phone Number	870-2601
Entity Information, Former Legal or Registered Name	Not Applicable
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Security 12b Title	Common Stock, $0.01 par value
Trading Symbol	RRC
Security Exchange Name	NYSE

---