8-K
0000315852false00003158522022-10-142022-10-14

 

 

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): October 14, 2022 (October 14, 2022)

 

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)

 

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))

Securities 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

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 loss that Range Resources Corporation expects to report in earnings for the three months ended September 30, 2022 (in thousands):

 

 

Three Months

Ended

September 30,

 

 

 

2022

 

Derivative fair value loss per consolidated statements of operations

$

(457,708

)

 

 

 

 

Non-cash fair value (loss) gain:

 

 

 

Natural gas derivatives

$

(64,126

)

Oil derivatives

 

62,936

 

NGLs derivatives

 

8,509

 

Divestiture contingent consideration

 

(350

)

Total non-cash fair value gain

$

6,969

 

 

 

 

 

 

 

 

 

Net cash (payment) received on derivative settlements:

 

 

 

Natural gas derivatives (1)

$

(449,713

)

Oil derivatives

 

(19,114

)

NGLs derivatives

 

4,150

 

Total net cash payment

$

(464,677

)

(1)
Includes gain of $15.7 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.

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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.

 

 

RANGE RESOURCES CORPORATION

 

 

 

 

By:

/s/ MARK S. SCUCCHI

 

Mark S. Scucchi

 

Senior Vice President-Chief Financial Officer

 

 

Date: October 14, 2022

 

 

 

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