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FORT WORTH, Texas, Nov. 03, 2021 (GLOBE NEWSWIRE) — 2021 RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) announced the publication of an updated Corporate Sustainability Report today. The 2020-2021 Corporate Sustainability Report provides a detailed insight into Range’s approach, achievements, and goals on environmental, social, and governance topics.This report covers a broad set of focus areas, with an emphasis on material subjects for the business and key stakeholders. With this report, we hope to enhance Range’s track record of proactive, transparent communications and industry-leading initiatives.
“Now more than ever, natural gas is powering our lives and providing our world with clean and reliable energy, as well as feedstock for a vast number of daily products,” said Jeff Ventura, the Company’s CEO. “Range’s natural gas is part of the global solution to improving quality of life, and we understand that as an industry leader, we must continue to operate in a responsible and transparent manner. This includes providing our stakeholders, business partners, and communities with the information we disclose in our Corporate Sustainability Report.”
Emissions Reduction Goals and Performance
Range continues to advance toward our short-term, medium-term, and long-term objectives specifically related to greenhouse gas (GHG) emissions, keeping us on track to achieve our strategic goal of net zero GHG emissions by 2025, which has been expanded to include Scope 1 and Scope 2. We view scope 2 emissions as part of our GHG inventory and believe this added commitment strengthens our sustainability goals.
Corporate Sustainability Report Highlights
Corporate Governance
Created ESG & Safety Committee, formalizing existing board oversight of ESG
Proactive ongoing outreach to shareholders soliciting feedback on ESG efforts
50 percent of Independent Directors are Ethnic/Gender Diverse
Safety Leadership
Range employees completed 1,800 hours of safety-related training
0.30 Days Away, Restricted or Transferred (DART)
Environmental Stewardship
Expanded our 2025 net zero emissions goal to include Scope 2 GHG emissions
Achieved a 69 percent reduction in GHG emissions intensity and 86 percent reduction in methane emissions intensity compared to our 2017 baseline
Decreased reported equipment leak emissions by more than 66 percent as a result of increased frequency of LDAR surveys from semi-annual to quarterly (vs. 2019).
Recycled 148 percent of produced water and flowback volume through water sharing program
Expanded Emissions Measurement by entering into a pilot program with Project Canary, utilizing continuous monitoring technology
Community Impact
$240 million impact fees paid to Pennsylvania since 2011 to support construction of new schools, roads, parks, etc.
$2.9 Billion in royalties paid to landowners since 2006.
Direct annual investments in our communities, including over $100,000 in Range’s Community COVID-19 Stimulus Package
Human Capital
Formed Multi-Ethnic Employee Resource Group (MERG) and Range Energy Network of Women (RENEW) employee resource groups for multi-ethnic employees and female employees respectively
Established a flexible remote-work policy for employees
The full Corporate Sustainability Report is available at https://csr.rangeresources.com.
About Range Resources’ 2020-2021 Sustainability Report
Range’s Sustainability Report is informed by multiple best practice sustainability reporting standards and frameworks. Guidelines and recommendations by the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Boards (SASB), Task Force on Climate-related Financial Disclosures (TFCFD) and IPIECA’s (formerly known as the International Petroleum Industry Environmental Conservation Association) sustainability reporting guidance have all been considered for the creation of this report.
RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused on stacked-pay projects in the Appalachian Basin. The Company pursues an organic development strategy targeting high return, low-cost projects within its large inventory of low-risk drilling opportunities. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.
This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, including those related to the Company’s securities offering. 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 Range’s hedging transactions, the costs and results of actual 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 Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q, which are incorporated by reference.
Range Investor Contact:
Laith Sando, Vice President – Investor Relations
817-869-4267
[email protected]
Range Media Contact:
Mark Windle, Manager of Corporate Communications
724-873-3223
[email protected]
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