FORT WORTH, TX--(Marketwired - Dec 16, 2015) - RANGE RESOURCES CORPORATION (NYSE: RRC) today issued a statement concerning the recent sales of Range Resources common stock by John Pinkerton, who currently serves as a director and is a former Chairman, President and CEO of the Company. Mr. Pinkerton served as President and CEO until his retirement effective January 1, 2012. Since Mr. Pinkerton's retirement as CEO of the Company he has been involved in several real estate projects. Most recently, Mr. Pinkerton has been engaged in a large mixed use development in Florida and the Company understands the sales of Company stock by Mr. Pinkerton beginning on October 29, 2015 have been to satisfy a margin call as well as to generate cash to fund the Florida real estate development and for other purposes.
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. 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.
Except for historical information, statements made in this release regarding or concerning stock sales by an insider 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 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. Range makes no assurance that additional insider stock sales will not occur with or without direction from the insider. Any number of factors could cause actual events to differ materially from those in the forward-looking statements, including, but not limited to, the volatility of oil and gas prices, the insider's personal financial matters and obligations, including margin account commitments and obligations. 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.
(December 16, 2015 - 8:30 AM EST)
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