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4-Traders Homepage  >  Equities  >  Nyse  >  Range Resources Corp.    RRC

Delayed Quote. Delayed  - 12/02 10:02:52 pm
36.36 USD   -0.63%
12/01 Range Declares Quarterly Dividend
11/21 S&P 500 MOVERS : Tsn, mro
11/19 RANGE RESOURCES : fundraiser and food drive helps 2000 Turkeys reach..
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RANGE RES CORP : Range Announces Offering of Senior Subordinated Notes

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07/29/2010 | 02:50pm CET

RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that it intends, subject to market conditions, to publicly offer $350 million aggregate principal amount of senior subordinated notes due 2020. The offering and sale of the senior subordinated notes is pursuant to an automatic shelf registration statement on Form S-3 filed today with the Securities and Exchange Commission (?SEC?). Range intends to use a portion of the net proceeds from the offering to redeem $200 million in outstanding principal amount of Range's outstanding 7.375% Senior Subordinated Notes due 2013 in accordance with the terms of the indenture under which those notes were issued, and the remaining proceeds to pay down a portion of the outstanding balance of Range's senior credit facility.

J.P. Morgan Securities Inc., Banc of America Securities LLC and Wells Fargo Securities, LLC will act as joint book-running managers for the senior subordinated notes offering. A copy of the preliminary 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 preliminary prospectus supplement and related base prospectus if you request them by contacting J.P. Morgan Securities Inc. at 383 Park Avenue, 3rd Floor, New York, New York 10179, attention Syndicate Desk, BofA Merrill Lynch 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 is an independent natural gas company operating in the Southwestern and Appalachian 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 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 the occurrence of any unanticipated acquisition opportunities. 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.

Range Resources Corporation
Rodney Waller, Senior Vice President
David Amend, Investor Relations Manager
Karen Giles, Corporate Communications Manager
817-870-2601
www.rangeresources.com


© Business Wire 2010
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Financials ($)
Sales 2016 1 533 M
EBIT 2016 -29,4 M
Net income 2016 -328 M
Debt 2016 3 903 M
Yield 2016 0,29%
P/E ratio 2016 -
P/E ratio 2017 114,02
EV / Sales 2016 8,41x
EV / Sales 2017 5,59x
Capitalization 8 986 M
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Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 47,0 $
Spread / Average Target 29%
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Managers
NameTitle
Jeffrey L. Ventura Chairman, President & Chief Executive Officer
Ray N. Walker Chief Operating Officer & Executive Vice President
Roger S. Manny Chief Financial Officer & Executive Vice President
Allen Finkelson Independent Director
Kevin S. McCarthy Independent Director
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