20 Oct 2014material agreement● Neutral
Range amended and restated its JPMorgan-led revolving credit facility: a $4.0 billion maximum principal amount, $3.0 billion borrowing base and $2.0 billion in lender commitments, maturing October 2019.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
17 June 2014asset acquisition disposition● NeutralMajor
Range closed a swap of its Conger, Texas (Permian Basin) assets for producing properties in Virginia plus $145 million cash from an EQT Corporation subsidiary -- trading Permian exposure for Appalachian-region assets and cash.
13 June 2014material agreement● Neutral
Range priced an underwritten public offering of 4,560,000 common shares (plus a 684,000-share underwriter option) through Merrill Lynch and J.P. Morgan, expected to close June 17, 2014.