Range Resources Publishes Updated Corporate Sustainability Report
August 26 2020 - 7:00AM
RANGE RESOURCES CORPORATION (NYSE:
RRC) (“Range” or the “Company”) announced
the publication of an updated Corporate Sustainability Report
today. The 2020 Corporate Sustainability Report covers a broader
and deeper set of topics, with a focus on a material set of issues
for the business and key stakeholders, underscoring the Company’s
commitment to increased transparency around these important
initiatives.
“We have made significant progress toward our
strategic sustainability goals over the past year. The dedication
of our employees to environmental stewardship has driven
substantial environmental and operational efficiencies, resulting
in significant cost savings,” said Jeff Ventura, the Company’s CEO.
“Given our vast energy resources, low breakeven costs and
best-in-class environmental efforts, Range will continue to play a
key role in safely supplying cleaner, abundant energy while
providing value for all stakeholders through a sustainable approach
to our work.”
Emissions Reduction Goals and
Performance
Range announced new emissions reductions goals
in the updated report. The Company’s medium-term goal is to achieve
the objective of net zero greenhouse gas (GHG) emissions by 2025
through continued emissions reductions and the use of carbon
offsets associated with reforestation and forest management. As an
additional interim goal, Range intends to further reduce GHG
emissions intensity relative to 2019 levels by 15 percent by
2025.
To achieve these targets, Range continues to
invest in new technologies and engineering solutions, implement
best-in-class emissions reductions practices and develop improved
methods to reliably verify emissions through measurement. These
efforts have positioned Range as a leader in emissions reductions
amongst peers. Based on third-party data from Rystad Energy, an
independent energy research firm, Range is ranked among the lowest
in CO2 emissions intensity in a group of 58 global oil and natural
gas producers.
A chart showing Range's ranking on CO2 emissions
intensity is available by clicking on the image below:
In addition to the Company’s new emissions
reduction targets, the report highlights progress Range continues
to make towards its broader environmental, social and governance
priorities.
Corporate Sustainability Report
Highlights
Strong Governance Culture
- Management and oversight of sustainability factors fully
integrated into daily operations
- Proactive ongoing outreach to shareholders soliciting feedback
on ESG efforts
- Thirty-three percent of independent directors are female
Health and Safety
Leadership
- Zero incidents resulting in work restrictions or days away from
work experienced by Range employee workforce in 2019
- 3,179 hours of safety-related training completed by workforce
over past year
Environmental Stewardship
- Net Zero GHG Direct Emissions by 2025 through continued
emissions reductions and the use of carbon offsets associated with
reforestation and forest management, as well as the consideration
of all other available and emerging offset methodologies
- Continue reducing GHG emissions intensity with interim
objective of further reduction of 15 percent by 2025 compared to
2019 GHG emissions intensity levels
- Reduced GHG footprint by 47 percent in absolute GHG emissions
since 2017
- Water management leader: Recycled 147 percent of produced water
volume through water sharing program.
Community Impact
- Contributed over $442,000 to more than 350 non-profit and civic
organizations across core operating footprint.
- Over 700 employee hours volunteered at company-sponsored events
and community initiatives
The full Corporate Sustainability Report is
available at https://csr.rangeresources.com.
About Range Resources’ 2020
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 herein by
reference.
Range ESG Contact:Scott Roy, Senior Vice
President 724-873-3218sroy@rangeresources.com Range
Investor Contact:Laith Sando, Vice President – Investor
Relations 817-869-4267 lsando@rangeresources.com
Range Media Contact:Mark Windle, Manager of
Corporate Communications 724-873-3223
mwindle@rangeresources.com
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