UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 29, 2020 (
(Exact name of Registrant as Specified in Its Charter)
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Securities registered pursuant to Section 12(b) of the Act:
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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. ☐
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ITEM 2.05 Costs Associated with Exit or Disposal Activities
On July 18, 2020, Range Resources Corporation (“Range”) signed a purchase and sale agreement to sell its North Louisiana assets. The sale transaction closed on August 14, 2020. Pursuant to the purchase and sale agreement, Range retained certain midstream gathering, transportation and processing obligations through 2030. Following the closing date, Range undertook a detailed accounting valuation process to determine the fair value of these obligations. Using a probability weighted discount cash flow model, Range subsequently determined the fair value of these remaining obligations to be $479.8 million as of the closing date.
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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.
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RANGE RESOURCES CORPORATION |
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By: |
/s/ Mark S. Scucchi |
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Mark S. Scucchi |
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Chief Financial Officer |
Date: October 29, 2020
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