FORT WORTH, Texas, July 27, 2022 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) today announced the publication of its 2021-2022 Corporate Sustainability Report. The latest Corporate Sustainability Report provides data on a variety of topics of interest to our stakeholders and is a reflection of our corporate culture and the responsible approach Range takes in providing an essential product to consumers around the world.
“We believe that our energy future will continue to be more diverse and can only be sustained with additional natural gas development. Natural gas produced in Appalachia has the best track record to answer that call,” said Jeff Ventura, CEO and President. “Third-party research shows that Range is at the top of its class, ranking first with the lowest CO2e emissions intensity amongst our closest peers and the rest of the global upstream industry. When combined with our class-leading inventory, we believe Range is well positioned to help provide long-term energy solutions for the world.”
Net Zero Goal
The Company continues to make important progress towards our goal of net zero Scope 1 and 2 Greenhouse Gas (GHG) emissions by 2025. We remain focused on our direct emissions through continued emissions reduction efforts, including evaluation and implementation of new technology and engineering solutions, along with appropriate carbon offsets, such as reforestation and forest management.
Corporate Sustainability Report Highlights
Emissions Reduction
In this year’s report, we are providing additional perspective regarding Range’s total direct emission profile by sharing emissions data associated with the development phase and the production phase of our activity. We believe this additional detail allows Range and our stakeholders to better understand the nature of our emissions along with plans and opportunities for further reduction.
Development Intensity reduced by 31% since 2018
Production Intensity reduced by 56% since 2018
Corporate Governance
Proactive, ongoing outreach to shareholders soliciting feedback on ESG efforts
70 percent of Directors have Environmental/Health/Safety skillsets
Utilize the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF), which allows benchmarking and regular measuring of our profile
Safety Leadership
0.00 Days Away, Restricted or Transferred (DART) for Range Employees and 0.34 DART for Range Contractors in 2021
Range employees completed 2,500 hours of safety-related training in 2021
Climate Change
Ranks lowest in CO2e emissions intensity in a group of our 11 proxy peers
Earned Gold ratings at each of the four well pads certified by Project Canary’s TrustWell™ process
Range’s Pennsylvania production emissions decreased more than 48 percent since 2018
Increasing LDAR inspections to 8 times per year in 2022
Achieved a 58 percent decrease in our overall GHG emissions since 2018
Reduced methane emission intensity by 75 percent
Environmental Stewardship
61.2 acres enrolled into Range’s Habitat Enhancement Program
Recycled 147 percent of produced water and flowback volume through our water sharing program in 2021
Community Impact
Paid over $3.3 billion (2006 – 2021) through impact fees, royalty and lease payments, and charitable contributions
Volunteered more than 675 employee hours in 2021
Human Capital
Named to Newsweek Magazine’s 2022 America’s Most Responsible Companies list
Annual Diversity, Equity, and Inclusion training for all employees
About Range Resources’ 2021-2022 Sustainability Report
Range’s Sustainability Report incorporates 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 (TCFD), 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 focused on stacked-pay projects in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.
Included within this release are certain “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not limited to historical facts, but reflect Range’s current beliefs, expectations or intentions regarding future events. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “outlook”, “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements.
All statements, except for statements of historical fact, made herein regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, expected asset sales, well productivity, future emissions and carbon offsets, future liquidity and financial resilience, anticipated exports and related financial impact, natural gas and NGL market supply and demand, improving commodity fundamentals and pricing, future capital efficiencies, future shareholder value, emerging plays, capital spending, anticipated drilling and completion activity, acreage prospectivity, expected pipeline utilization and future guidance information, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that 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. Further information on risks and uncertainties is available in Range's filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K. Unless required by law, Range undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.
