FORT WORTH, TX--(Marketwired - Jun 26, 2014) - RANGE RESOURCES CORPORATION (
Range has signed an agreement to act as a foundation shipper on the ET Rover pipeline, a natural gas pipeline project of ET Rover Pipeline, LLC, a subsidiary of Energy Transfer Partners (
Range has also signed its first two LNG supply agreements subject to commencement of the projects. The Company entered into an agreement with an affiliate of Cheniere Energy, Inc (
Range has also executed two additional fixed term ethane sales agreements that are subject to successful project completion. The first contract will potentially supply an affiliate of Sasol Ltd. (
Commenting, Jeff Ventura, Range's President and CEO, said "Range's marketing team continues to expand our marketing capabilities for natural gas and ethane. The Rover pipeline provides Range flexibility in selling natural gas to high demand markets in Canada and the Gulf Coast, while the LNG and ethane supply agreements further diversify and strengthen our customer base with industry leading companies. Importantly, these various contracts support our plan to grow production by 20% to 25% for many years giving us base contracts in place with leading companies in key areas that allow for possible future expansion."
RANGE RESOURCES CORPORATION (
All statements, except for statements of historical fact, made in this release such as expected premium markets, expected marketing capabilities, expected high demand markets, expected customer base, expected industry leading customers, expected production growth and expected future expansion 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 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 ("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 by calling the SEC at 1-800-SEC-0330.