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

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RANGE RES CORP : Range Completes Redemption of 6-3/8% Senior Subordinated Notes Due 2015 and 7-1/2% Senior Subordinated Notes Due 2016

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06/24/2011 | 06:05pm CET

RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that is has completed the redemption of (i) all of its outstanding 6-3/8% senior subordinated notes due 2015 (CUSIP No. 75281AAF6) (the "2015 Notes") at a redemption price of 102.125% of the unpaid principal amount plus accrued and unpaid interest thereon and (ii) all of its outstanding 7-1/2% senior subordinated notes due 2016 (CUSIP No. 75281AAG4) (the "2016 Notes," and collectively with the 2015 Notes, the "Notes") at a redemption price of 103.75% of the unpaid principal amount plus accrued and unpaid interest thereon. Range used a portion of the net proceeds from its offering of $500 million aggregate principal amount of 5-3/4% senior subordinated notes due 2021, which closed on May 25, 2011, to redeem the Notes.

RANGE RESOURCES CORPORATION (NYSE: RRC) is an independent natural gas company operating in the Appalachia and Southwest regions of the United States.

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.

Range Resources Corporation
Rodney Waller, 817-869-4258
Senior Vice President
or
David Amend, 817-869-4266
Investor Relations Manager
or
Laith Sando, 817-869-4267
Senior Financial Analyst


© Business Wire 2011
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Financials ($)
Sales 2016 1 518 M
EBIT 2016 -4,71 M
Net income 2016 -325 M
Debt 2016 3 905 M
Yield 2016 0,30%
P/E ratio 2016 -
P/E ratio 2017 93,40
EV / Sales 2016 8,20x
EV / Sales 2017 5,28x
Capitalization 8 536 M
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 47,5 $
Spread / Average Target 37%
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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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