Range Resources’ Ongoing Commitment to Sustainability
Range Resources Corporation (NYSE: RRC) has taken significant steps towards sustainable energy development, as outlined in their recently released Corporate Sustainability Report. This report details the Company’s efforts in responsible energy production while ensuring environmental protection and community benefits.
Key Achievements in Sustainability
According to the company’s leadership, operational excellence paired with environmental responsibility is crucial for sustainable growth. Dennis Denger, the CEO of Range Resources, emphasized the dual focus on delivering high-quality natural gas products and achieving long-term value while mitigating environmental impacts. The latest report showcases ambitious goals achieved ahead of schedule.
Net Zero Milestone
One of the highlights is the achievement of Net Zero Scope 1 and 2 greenhouse gas (GHG) emissions through effective direct emissions reductions and verified carbon offsets for 2024. This progressive milestone was accomplished via a targeted strategy focused on operational efficiency and employing innovative technologies, leading to a reduction in GHG and methane emissions intensity by 43% and 83%, respectively, since 2019.
Commitment to Environmental Stewardship
Range Resources has made significant strides in environmental stewardship, which is essential for their operational strategy. Here are some notable achievements:
- 43% reduction in GHG emission intensity since 2019.
- 83% decrease in methane emissions intensity since 2019.
- A 33% reduction in the total count of reportable spills greater than one barrel compared to the previous year.
- Approximately 100% recycling of flowback and produced water utilized during operations.
- A commendable ‘A’ grade MiQ certification for all production activities.
Focus on Safety Leadership
Safety remains a top priority for Range Resources. The company reported an impressive 0.17 Employee Days Away, Restricted, or Transferred (DART) rate and a 0.33 Total Recordable Incident Rate (TRIR). Furthermore, employees engaged in over 3,000 hours of safety training, demonstrating the company’s commitment to maintaining a safe workplace.
Human Capital Development
Range Resources places a strong emphasis on its workforce, highlighted by an average employee tenure of approximately ten years. Managers have participated in over 1,680 hours of leadership and management training, while employees received an average of 16.8 hours of training, ensuring that team members are well-prepared for their roles.
Ethics and Governance
Responsible governance is crucial for the company’s success. Range Resources earned a remarkable ‘AA’ MSCI ESG Rating and has been recognized as a leader among Appalachian producers. The company has consistently met or exceeded industry standards in various categories set by JUST Capital’s rankings and has made it to Newsweek’s esteemed list of America’s Most Responsible Companies for four consecutive years.
Positive Community Impact
Range Resources is deeply committed to supporting local communities, having paid over $5 billion in impact fees, royalty and lease payments, and charitable contributions. Their investment in community development includes $1.2 million allocated for local projects and $213,500 directed to first responders through the Good Neighbors Fund. Moreover, Range employees have volunteered over 3,100 hours to assist community organizations, reinforcing the strong relationship between the company and the communities it serves.
About the 2024-2025 Sustainability Report
The 2024-2025 Sustainability Report from Range Resources was shaped with insights from various stakeholders and adheres to best practice sustainability reporting standards. By incorporating guidelines from leading organizations such as the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB), the report reflects commitment to transparency and accountability.
Contact Information
Investor Contact:
Laith Sando, Senior Vice President – Corporate Strategy & Investor Relations
817-869-4267
Email: lsando@rangeresources.com
Media Contact:
Mark Windle, Director of Corporate Communications
724-873-3223
Email: mwindle@rangeresources.com
Frequently Asked Questions
What is the main focus of Range Resources’ Sustainability Report?
The report emphasizes the company’s commitment to environmental stewardship, operational efficiency, and community engagement.
How has Range Resources reduced its emissions?
They achieved Net Zero Scope 1 and 2 GHG emissions through direct emissions reductions and verified carbon offsets, greatly minimizing their environmental impact.
What safety metrics has Range Resources achieved?
Range Resources reported a 0.17 DART rate and a 0.33 TRIR, showcasing their dedication to maintaining a safe work environment.
How is Range Resources contributing to the community?
The company has invested over $5 billion into local communities and has significantly supported first responders through their Good Neighbors Fund.
What recognition has Range Resources received for its sustainability initiatives?
They have earned a ‘AA’ MSCI ESG Rating and have been ranked as one of America’s Most Responsible Companies by Newsweek for four consecutive years.
