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

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RANGE RES CORP : Range Resources Supports DEP Actions Regarding Water Treatment in Pennsylvania

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04/20/2011 | 12:30am CEST

RANGE RESOURCES CORPORATION (NYSE: RRC) today commented on a recent announcement from the Pennsylvania Department of Environmental Protection.

Commenting on Pennsylvania Governor Tom Corbett and acting Department of Environmental Protection Secretary Michael Krancer's directive to cease delivering water from shale gas development to 15 facilities that currently accept the water under special provisions of last year's Total Dissolved Solids (TDS) regulations by May 19th, John H. Pinkerton, Range's Chairman and CEO, said:

"Protecting Pennsylvania water resources is vitally important. No industry or activity should be exempt from safeguarding our water. As a cornerstone of Range's Marcellus Shale development, we determined early on that the handling of water in a responsible way was critical. As a result, we developed a safe and effective water recycling program. This recycling program, in addition to a number of other treatment and disposal options, has resulted in Range no longer sending water from shale development to the 'grandfathered' facilities that are not capable of fully treating the water.

"We support Governor Corbett and acting Secretary Krancer for taking this action. In the past, we reached out to other operators to share our recycling technology and practices and continued to learn from them as well. We encourage the industry to stop sending water to 'grandfathered' facilities prior to the DEP's deadline of 30 days. The Marcellus Shale is too important for the nation and the people of Pennsylvania to not get this right.

"This directive from Governor Corbett and acting Secretary Krancer will not deter Marcellus Shale development, because there are a number of options companies have to reuse, fully treat or safely dispose of their water. What this decision will do is enhance and protect the waterways of Pennsylvania, which is paramount to the development of the Commonwealth's vast natural gas resources."

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

Range Resources Corporation
Matt Pitzarella, 724-873-3224
Public Affairs Director
Cell: 724-678-5138
www.rangeresources.com


© Business Wire 2011
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EBIT 2017 585 M
Net income 2017 263 M
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Yield 2017 0,39%
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EV / Sales 2017 4,00x
EV / Sales 2018 3,41x
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Number of Analysts 37
Average target price 42,7 $
Spread / Average Target 77%
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Jeffrey L. Ventura Chairman, President & Chief Executive Officer
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Roger S. Manny Chief Financial Officer & Executive Vice President
Allen Finkelson Independent Director
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