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Range Resources Prices $550-Million Senior Notes Offering
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Range Resources Corporation (RRC - Free Report) recently announced the pricing of $550 million aggregate principal amount of senior notes. The offering of the notes, being upsized from $500 million, is likely to close on Jan 24.
The senior notes, carrying an interest rate of 9.25% and expected to mature in 2026, have been priced at par. The upstream energy player estimates the offering’s net proceeds at roughly $541.6 million.
Range Resources is planning to set aside a portion of the net proceeds for the purchase of target senior notes in tender offers, commenced on Jan 8. The tender offer is to purchase for cash a collective target notes of a total aggregate principal amount of up $500 million. Notably, the outstanding target notes comprise three senior notes. One of the notes carries an interest rate of 5.750% and will mature in 2021. The other two notes will mature in 2022 and carry an interest rate of 5.875% and 5.000%, respectively.
The remaining of the net proceeds from the offering will be utilized by the oil and gas explorer to repay borrowings under bank credit facility.
Headquartered in Fort Worth, TX, Range Resources is among the leading natural gas explorers and producers in the domestic market. The company’s operations are primarily focused on the Appalachian Basin and North Louisiana. Range Resources has a large inventory of drilling locations in those prospective resources, brightening the production outlook.
Murphy USA’s earnings beat the Zacks Consensus Estimate in three of the prior four quarters.
California Resources’ earnings beat the Zacks Consensus Estimate in three of the past four quarters.
CNX Resources’ earnings surpassed the Zacks Consensus Estimate in two of the prior four quarters. It has a trailing four-quarter positive earnings surprise of 34.8%, on average.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Range Resources Prices $550-Million Senior Notes Offering
Range Resources Corporation (RRC - Free Report) recently announced the pricing of $550 million aggregate principal amount of senior notes. The offering of the notes, being upsized from $500 million, is likely to close on Jan 24.
The senior notes, carrying an interest rate of 9.25% and expected to mature in 2026, have been priced at par. The upstream energy player estimates the offering’s net proceeds at roughly $541.6 million.
Range Resources is planning to set aside a portion of the net proceeds for the purchase of target senior notes in tender offers, commenced on Jan 8. The tender offer is to purchase for cash a collective target notes of a total aggregate principal amount of up $500 million. Notably, the outstanding target notes comprise three senior notes. One of the notes carries an interest rate of 5.750% and will mature in 2021. The other two notes will mature in 2022 and carry an interest rate of 5.875% and 5.000%, respectively.
The remaining of the net proceeds from the offering will be utilized by the oil and gas explorer to repay borrowings under bank credit facility.
Headquartered in Fort Worth, TX, Range Resources is among the leading natural gas explorers and producers in the domestic market. The company’s operations are primarily focused on the Appalachian Basin and North Louisiana. Range Resources has a large inventory of drilling locations in those prospective resources, brightening the production outlook.
Range Resources Corporation Price
Range Resources Corporation price | Range Resources Corporation Quote
Currently, the company carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy space are Murphy USA Inc (MUSA - Free Report) , California Resources Corporation (CRC - Free Report) and CNX Resources Corporation (CNX - Free Report) . All the stocks carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Murphy USA’s earnings beat the Zacks Consensus Estimate in three of the prior four quarters.
California Resources’ earnings beat the Zacks Consensus Estimate in three of the past four quarters.
CNX Resources’ earnings surpassed the Zacks Consensus Estimate in two of the prior four quarters. It has a trailing four-quarter positive earnings surprise of 34.8%, on average.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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