Range Merger With Memorial Resource Development Corp. Receives All Required Stockholder Approvals
15 Setembro 2016 - 12:18PM
RANGE RESOURCES CORPORATION “Range” (NYSE:RRC)
today announced that its stockholders overwhelmingly approved the
issuance of Range common stock necessary for Range to acquire
Memorial Resource Development Corp. “MRD” (NASDAQ:MRD). At
Range’s special meeting held earlier today, approximately 87.0% of
the outstanding shares of Range common stock were voted and of
those shares voted, approximately 99.3% voted in favor of the
issuance of common stock to acquire MRD.
The stockholders of MRD also approved the merger
with Range at Memorial’s special meeting held earlier today.
Approximately 86.2% of the outstanding shares of Memorial common
stock were voted and of those shares, approximately 98.0% approved
the merger.
With the receipt of both sets of required
stockholder approvals, the transaction is expected to close Friday,
September 16, 2016.
As previously announced on May 16, 2016, Range
and MRD entered into a definitive merger agreement under which
Range would acquire all of the outstanding shares of common stock
of MRD in an all-stock transaction.
RANGE RESOURCES CORPORATION
(NYSE:RRC) is a leading U.S. independent oil and natural gas
producer with operations focused in stacked-pay projects in the
Appalachia Basin and Northern Louisiana. The Company pursues
an organic growth strategy targeting high return, low-cost projects
within its large inventory of low risk development drilling
opportunities. The Company is headquartered in Fort Worth, Texas.
More information about Range can be found at
www.rangeresources.com.
All statements, except for statements of
historical fact, made in this release regarding activities, events
or developments the Company expects, believes or anticipates will
or may occur in the future, such as the expected timetable for
completing the proposed transaction, drilling inventory and
expected returns 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 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 our 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; the ultimate timing, outcome and
results of integrating the operations of Range and MRD; the effects
of the business combination of Range and MRD, including the
combined company’s future financial condition, results of
operations, strategy and plans; potential adverse reactions or
changes to business relationships resulting from the completion of
the business combination; expected synergies and other benefits
from the business combination and the ability of Range to realize
such synergies and other benefits. 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 (“SEC”), which are incorporated by reference.
Investors are urged to consider closely the disclosure in our most
recent Annual Report on Form 10-K, available from our website at
www.rangeresources.com or by written request to 100
Throckmorton Street, Suite 1200, Fort Worth, Texas 76102. You
can also obtain this Form 10-K on the SEC’s website at www.sec.gov
or by calling the SEC at 1-800-SEC-0330.
Investor Contacts:
Laith Sando, Vice President – Investor Relations
817-869-4267
lsando@rangeresources.com
David Amend, Investor Relations Manager
817-869-4266
damend@rangeresources.com
Michael Freeman, Senior Financial Analyst
817-869-4264
mfreeman@rangeresources.com
Josh Stevens, Financial Analyst
817-869-1564
jrstevens@rangeresources.com
or
Media Contact:
Matt Pitzarella, Director of Corporate Communications
724-873-3224
mpitzarella@rangeresources.com
www.rangeresources.com
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