0000315852false00003158522024-07-122024-07-12

 

 

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 12, 2024

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: (817) 870-2601

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, 2024 (in thousands):

 

 

Three Months

Ended

June 30,

 

 

 

2024

 

Derivative fair value income per consolidated statements of income

$

16,808

 

 

 

 

 

Non-cash fair value (loss) income:

 

 

 

Natural gas derivatives

$

(113,018

)

Oil derivatives

 

2,060

 

NGLs derivatives

 

(291

)

Total non-cash fair value loss

$

(111,249

)

 

 

 

 

 

 

 

 

Net cash receipt (payment) on derivative settlements:

 

 

 

Natural gas derivatives (1)

$

126,194

 

Oil derivatives

 

(115

)

NGLs derivatives

 

1,978

 

Total net cash receipt

$

128,057

 
(1)
Includes income of $136.0 million related to settled NYMEX natural gas derivatives and a loss of $9.8 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 12, 2024

 

 

 

3

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Document and Entity Information
Jul. 12, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Jul. 12, 2024
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
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