e8vk
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): May 11, 2011
RANGE RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
|
|
|
|
|
Delaware
(State or other jurisdiction of
incorporation)
|
|
001-12209
(Commission File Number)
|
|
34-1312571
(IRS Employer
Identification No.) |
100 Throckmorton Street, Suite 1200
Fort Worth, Texas 76102
(Address of principal executive offices (Zip Code)
Registrants telephone number, including area code: (817) 870-2601
(Former name or former address, if changed since last report): Not applicable
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 Instruction
A.2. below):
|
|
|
o |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
|
o |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
|
o |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
|
o |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
|
|
|
Item 7.01 |
|
Regulation FD Disclosure. |
On May 11, 2011, Range issued a press release announcing that it intends, subject to market
conditions, to publicly offer $400 million aggregate principal amount of senior subordinated notes
due 2021 in a registered public offering. A copy of this press release is furnished as Exhibit 99.1
to this Current Report on Form 8-K.
Also on May 11, 2011, Range issued a press release announcing the commencement of cash
tender offers for its outstanding $150.0 million in aggregate principal amount of 63/8% Senior Subordinated Notes due 2015
(the 2015 Notes) and $250.0 million in aggregate principal amount of 71/2% Senior Subordinated Notes due
2016 (the 2016 Notes) and a solicitation of consents to certain proposed amendments to the indenture governing the 2015 Notes and the indenture governing the 2016 Notes. A copy of this press release is
furnished as Exhibit 99.2 to this Current Report on Form 8-K.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report
on Form 8-K under this heading, including Exhibits 99.1 and 99.2, shall not be deemed filed for
the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject
to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a
filing.
|
|
|
Item 9.01 |
|
Financial Statements and Exhibits. |
(d) Exhibits.
|
|
|
|
|
Exhibit |
|
|
Number |
|
Description |
|
99.1 |
|
|
Press Release, dated May 11, 2011, announcing public offering of notes. |
|
99.2 |
|
|
Press Release, dated May 11, 2011, announcing tender offers and consent solicitations. |
-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/ Roger S. Manny
|
|
|
|
Roger S. Manny |
|
|
|
Chief Financial Officer |
|
|
-3-
EXHIBIT INDEX
|
|
|
|
|
Exhibit |
|
|
Number |
|
Description |
|
99.1 |
|
|
Press Release, dated May 11, 2011, announcing public offering of notes. |
|
99.2 |
|
|
Press Release, dated May 11, 2011, announcing tender offers and consent solicitations. |
-4-
exv99w1
Exhibit 99.1
NEWS RELEASE
RANGE ANNOUNCES OFFERING OF SENIOR SUBORDINATED NOTES
FORT WORTH, TEXAS, MAY 11, 2011...RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that
it intends, subject to market conditions, to publicly offer $400 million in aggregate principal
amount of senior subordinated notes due 2021. The offering and sale of the senior subordinated
notes is being made pursuant to an automatic shelf registration statement on Form S-3 filed today
with the Securities and Exchange Commission (SEC).
Range intends to use all of the net proceeds from the offering, together with cash on hand, to
purchase any and all of the outstanding $150 million aggregate principal amount of Ranges 63/8%
Senior Subordinated Notes due 2015 and outstanding $250 million aggregate principal amount of
Ranges 71/2% Senior Subordinated Notes due 2016, pursuant to separately announced tender offers and
to redeem any of such outstanding notes not acquired in the tender offers.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce Fenner & Smith Incorporated 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 LLC at 383 Park Avenue, 3rd Floor, New York, New York 10179,
attention Syndicate Desk or via phone at 1-800-261-5767, Merrill Lynch, Pierce, Fenner & Smith
Incorporated 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 (NYSE: RRC) is an independent natural gas company operating in the
Appalachia and Southwest 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 Ranges management believes are reasonable based on currently available information;
however, managements assumptions and Ranges 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 Ranges filings with the
SEC, which are incorporated herein by reference.
2011-16
|
|
|
|
|
Contacts:
|
|
Rodney Waller, Senior Vice President
|
|
817-869-4258 |
|
|
David Amend, Investor Relations Manager
|
|
817-869-4266 |
|
|
Laith Sando, Senior Financial Analyst
|
|
817-869-4267 |
exv99w2
Exhibit 99.2
NEWS RELEASE
RANGE ANNOUNCES TENDER OFFERS AND CONSENT SOLICITATIONS FOR ITS
6 3/8% SENIOR SUBORDINATED NOTES DUE 2015 AND
7 1/2% SENIOR SUBORDINATED NOTES DUE 2016
FORT WORTH, TEXAS, MAY 11, 2011...RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that
it has commenced cash tender offers (the Offers) for any and all of the outstanding $150,000,000
aggregate principal amount of its 6 3/8% senior subordinated notes due 2015 (CUSIP No. 75281AAF6)
(the 2015 Notes) and $250,000,000 aggregate principal amount of its 7 1/2% senior subordinated
notes due 2016 (CUSIP No. 75281AAG4) (the 2016 Notes, and collectively with the 2015 Notes, the
Notes) and a solicitation of consents to certain proposed amendments to the indenture governing
the 2015 Notes and the indenture governing the 2016 Notes (collectively, the Indentures).
Each Offer is scheduled to expire at 11:59 p.m., New York City time, on June 8, 2011, unless
extended or earlier terminated (the Expiration Time). Holders who validly tender their Notes and
provide their consents to the amendments to the related Indenture before 5:00 p.m., New York City
time, on May 24, 2011, unless extended (the Consent Expiration), will be eligible to receive the
Total Consideration (as defined below). The Offers contemplate an early settlement option, so that
holders whose Notes are validly tendered prior to the Consent Expiration and accepted for purchase
could receive payment as early as May 25, 2011. Tenders of Notes may be validly withdrawn and
consents may be validly revoked until the Withdrawal Time (as defined below).
The Total Consideration for each $1,000 principal amount of Notes validly tendered and not
validly withdrawn prior to the Consent Expiration is $1,023.75 with respect to the 2015 Notes and
$1,040.00 with respect to the 2016 Notes, each of which includes a consent payment of $20.00 per
$1,000 principal amount of Notes. Holders tendering after the Consent Expiration will be eligible
to receive only the Tender Offer Consideration, which is $1,003.75 for each $1,000 principal
amount of 2015 Notes and $1,020.00 for each $1,000 principal amount of 2016 Notes. Holders will
also receive accrued and unpaid interest from the last interest payment on the applicable Notes up
to, but not including, the applicable settlement date for all of such Notes that we accept for
purchase in the Offers.
Tendered Notes may be withdrawn and consents may be revoked before 5:00 p.m., New York City time,
on May 24, 2011, unless extended (the Withdrawal Time), but generally not afterwards. Any
extension, termination or amendment of either Offer will be followed as promptly as practicable by
a public announcement thereof.
Each Offer is subject to the satisfaction of certain conditions including: (1) receipt of consents
to the amendments to the related Indenture from holders of a majority in principal amount of the
outstanding respective Notes governed by such Indenture, excluding any such Notes owned by the
Company or its affiliates, (2) execution of a supplemental indenture effecting the amendments, (3)
completion of satisfactory financing and (4) certain other customary conditions.
The complete terms and conditions of the Offers are described in the Offer to Purchase and Consent
Solicitation Statement dated May 11, 2011, copies of which may be obtained from
MacKenzie Partners Inc., the depositary and information agent for the Offers, at (800) 322-2885 (US
toll free).
Range has engaged J.P. Morgan Securities LLC to act as the exclusive dealer manager and
solicitation agent in connection with the Offers. Questions regarding the terms of the Offers may
be directed to J.P. Morgan Securities LLC, Syndicate Desk, at (800) 261-5767 (US toll-free).
This announcement is not an offer to purchase, a solicitation of an offer to purchase or a
solicitation of consents with respect to any securities. The Offers are being made solely by the
Offer to Purchase and Consent Solicitation Statement dated May 11, 2011. The Offers are not being
made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be
in compliance with the securities, blue sky or other laws of such jurisdiction.
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 Ranges management believes are reasonable based on currently available information;
however, managements assumptions and Ranges 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 Ranges filings with the SEC, which are
incorporated herein by reference.
2011-17
|
|
|
|
|
Contacts:
|
|
Rodney Waller, Senior Vice President
|
|
817-869-4258 |
|
|
David Amend, Investor Relations Manager
|
|
817-869-4266 |
|
|
Laith Sando, Senior Financial Analyst
|
|
817-869-4267 |
2