FILED BY RANGE RESOURCES CORPORATION PURSUANT TO RULE 425 UNDER THE SECURITIES ACT OF 1933 AND DEEMED FILED PURSUANT TO RULE 14a-12 UNDER THE SECURITIES EXCHANGE ACT OF 1934 SUBJECT COMPANY: MEMORIAL RESOURCE DEVELOPMENT CORP FILE…
Ranges Keys for Success High quality, large scale acreage position containing repeatable projects with good returns improving further as costs are reduced Low cost structure with ability to continue driving costs down Improving…
Near-Term Price Enhancements RRC Marcellus NG Differential to NYMEX Natural Gas Differential - 0.00 (0.10) Range will be able to utilize a full year of (0.42) (0.20) Spectras Uniontown to Gas City project, which Midpoint (0.30)…
Mariner East: Opening New Lanes First Ethane Shipments Faster Propane Loading Combined with VLGC Ships Range is the only producer with current capacity on Mariner East Historic first shipments of ethane from U.S. to Europe…
First VLGC Loading of Range Propane for Export 7
Appalachia Gas Transportation Arrangements Transportation Portfolio additions improve Ranges differentials to NYMEX Regional Direction Projected Avg. 2016 Projected Avg. 2017 Transport Cost Transport Cost Mmbtu/day Mmbtu/day per…
Over 180 Existing Pads Facilitate Future Development 124 pads with 5 or fewer wells, 59 pads with 6 to 9 wells Most pads designed to accommodate 20 wells with the flexibility to drill Marcellus, Utica/Point Pleasant or Upper…
Range Marcellus 2016 Well Economic Summary Industry leading EUR/1,000 ft. and Cost/1,000 ft. in SW Appalachia SW Super-Rich SW Wet SW Dry NE Dry 16.0 Bcfe 20.6 Bcfe EUR 17.6 Bcf 14.1 Bcf 1,450 Mbbls & 7.3 Bcf 1,756 Mbbls & 10.1…
Appalachian Peers Well Cost Comparison Average Average Cost Well Cost* Lateral Length per 1,000 ft. (000s) (feet) (per 1,000 feet) Range 5,630 6,876 819 K Peer A 6,300 7,000 900 Peer B 8,500 9,000 944 Peer C 6,700 7,000…
Unhedged Recycle Ratio Recycle Ratio: (Margin divided by F&D) Assumed 2017 Natural Gas price*: 3.00 Less: 2016 Expected Corp. differential 0.42 2016 Expected All-in cash unit costs 1.87 Adjusted Margin 0.71 Expected future…
Liquidity and Leverage Outlook (Range pre-merger) At March 31, 2016, Range had 1.7 billion liquidity under bank commitments, which is currently limited to 1.2 billion by senior subordinated note indentures 3 billion borrowing base and…
Ranges Keys for Success Assets, Team, Agreements & Strategy Low cost structure with Improving capital Better realizations from ability to continue driving efficiency additional takeaway costs lower Longer laterals; 2016 plan capacity…
Range Resources/Memorial Resource Development Proposed Merger Announced May 16, 2016 Closing expected late 3rd Qtr. / early 4th Qtr. 2016 15
Highlights of Merger Core acreage positions in two of the most prolific high- quality natural gas plays in North America Immediately cash flow accretive and credit enhancing Combination of two low-cost gas producers with…
Transaction Details Range Resources (Range) merges with Memorial Resource Development (MRD) for 0.375 shares of Range per MRD share; All-stock transaction Consideration Implied value of 15.75 per MRD share, a 17% premium based on…
Immediately Accretive & Credit Enhancing Pro Forma Annual Consensus Metrics* Existing RRC % Change RRC 2016E Production 520 Bcfe 670 Bcfe +29% 2016E Production per day 1,420 Mmcfe 1,830 Mmcfe +29% 2016E Cash Flow 375 Million 780…
Marketing and Operational Efficiencies Marketing MRDs position gives Range a Marcellus presence in the Gulf Coast in advance of additional transportation availability out of Appalachia Opportunities to optimize Ranges…
Contact Information Range Resources Corporation 100 Throckmorton, Suite 1200 Fort Worth, Texas 76102 Laith Sando, Vice President Investor Relations (817) 869-4267 lsandorangeresources.com David Amend, Investor Relations…
Loading...
