Environmental, Health & Safety | Corporate Strategy

Range Forms New ESG Committee; Partners with Project Canary on Gas Pilot Project

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   |    Wednesday,June 16,2021

Range Resources Corp. 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.

Dorman said: "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. 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.

Jeff Ventura, Range's Chief Executive Officer, commented: "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. 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.

Project Canary co-founder & CEO Chris Romer said: "Our technologies and certification of operations are enabling companies to participate in and accelerate the energy transformation. 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 CO_2e per Mmcfe.