Range Resources (RRC) Update - Sept 23
Posted: Wed Sep 23, 2020 8:58 am
FORT WORTH, Texas, Sept. 23, 2020 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) announced that it has signed a long-term ethane supply agreement with PTTGC America LLC (“PTTGCA”) to become an anchor supplier for a proposed world-scale ethylene cracker in Appalachia. This agreement is contingent upon PTTGCA reaching a final investment decision, which is expected in early 2021.
“We are pleased to help support a world-class project that brings additional jobs to Appalachia, while utilizing our low-cost natural gas resources,” said Jeff Ventura, Range’s CEO and President. “Range views this project as a win-win-win for Range, PTTGCA and the many communities in the Northeast that will benefit from the economic boost this facility provides. Importantly, for Range, ethane supplied to PTTGCA will be sourced from existing natural gas production and NGL processing facilities with the benefit of no additional transportation required. Range will also receive a significant revenue uplift compared to selling into the natural gas stream.”
“We are pleased to help support a world-class project that brings additional jobs to Appalachia, while utilizing our low-cost natural gas resources,” said Jeff Ventura, Range’s CEO and President. “Range views this project as a win-win-win for Range, PTTGCA and the many communities in the Northeast that will benefit from the economic boost this facility provides. Importantly, for Range, ethane supplied to PTTGCA will be sourced from existing natural gas production and NGL processing facilities with the benefit of no additional transportation required. Range will also receive a significant revenue uplift compared to selling into the natural gas stream.”