Range Board Forms ESG and Safety Committee, Announces Responsibly Sourced Natural Gas Pilot Program
June 15 2021 - 4:00PM
RANGE RESOURCES CORPORATION (NYSE: RRC) today
announced the formation of a new Environmental Social Governance
(ESG) and Safety Committee by the Board of Directors. Range also
committed to a pilot project with Project Canary to certify the
production of responsibly sourced natural gas (RSG) following a
review of the Company’s operations under Project Canary’s
TrustWell™ Certification program.
ESG and Safety Committee
Range has a proven track record of addressing
key ESG matters through the development and implementation of
leading sustainability practices and engineering solutions across
its operations. With the increasing importance of ESG, the Board
has formed a dedicated committee to review workplace safety matters
and key ESG risks and opportunities. The Committee will provide
oversight in expanding current ESG efforts and communicating
measurable results related to these initiatives. Margaret Dorman,
an Independent Director, chairs the new ESGS Committee, and all
Independent Directors currently serve on the Committee.
“The ESGS Committee will bolster the Board’s
oversight of specific ESG and safety initiatives that are of
strategic importance to Range and critical to its long-term
success,” said Dorman. “We will continue to work with the
management team to identify opportunities that align with our
commitments to provide clean energy and deliver sustainable value
to our shareholders.”
Responsibly Sourced Natural Gas Pilot
Program
Range has entered into a pilot program with
Project Canary, utilizing the Canary X continuous monitoring
technology at two pad locations in Southwestern Pennsylvania. The
company will also participate in the TrustWell™ certification
process that seeks to certify the Company’s responsibly sourced
natural gas (RSG). A European multinational energy utility engaged
in both domestic and international energy markets is also involved
in this partnership and has agreed to purchase Range’s produced
RSG.
“Range has set ambitious emissions reduction
goals including a target of net zero GHG emissions by 2025,
demonstrating our focus on continuing to reduce our environmental
and operating footprint,” said Jeff Ventura, Range’s Chief
Executive Officer. “This partnership aligns with our long-standing
commitment to class-leading environmental practices and enhances
our commitment to supplying clean energy to help power our modern
world.”
This pilot program will seek to validate the
production of responsibly sourced natural gas through monitoring
and the TrustWell™ certification process. The TrustWell™
certification process will provide verifiable, trusted ESG data,
and certainty for current and potential business partners.
“Our technologies and certification of
operations are enabling companies to participate in and accelerate
the energy transformation,” said Project Canary co-founder &
CEO Chris Romer. “Stakeholders and the global market are demanding
more sustainably developed resources. This pilot project reflects
the company’s commitment to continued ESG leadership in the
Marcellus.”
Appalachia producers have achieved the lowest
CO2 intensities of any shale basin in the United States, and Range
is amongst the lowest in the country with a production GHG
intensity below 0.25 MT CO2e per Mmcfe.
RANGE RESOURCES CORPORATION (NYSE:
RRC) is a leading U.S. independent natural
gas and NGL producer with operations focused in 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.
SOURCE: Range Resources Corporation
Range Investor Contacts:
Laith Sando, Vice President – Investor
Relations817-869-4267lsando@rangeresources.com
Range Media Contacts:
Mark Windle, Director of Corporate
Communications724-873-3223mwindle@rangeresources.com
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