Thread regarding Range Resources Corp. layoffs

COG to acquire RRC.....

  • allowing Range shareholders to live on, albeit in a different form, but avoiding BK with the likes of AR and GPOR
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Post ID: @OP+13wlHYDx

5 replies (most recent on top)

They wouldn’t have the winning bid in Ch11. Chances are big private equity money would out-bid COG in CH11, due to not having to deal with public investor blowback.

Plus, RRC would probably just re-organize such that bond holders take over the company.

So, they can do a stock swap now and live on, or give it to the bond holders.

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Post ID: @8iih+13wlHYDx

Hahahahah... they will just pick this company up in bankruptcy.

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Post ID: @8aqw+13wlHYDx

Nobody cares about handing out golden parachutes to top executives, it’s done all the time....

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Post ID: @1wkb+13wlHYDx
  1. 1B debt + 3.1B debt, now 4.2B debt
  2. 96B EBITDA + 0.68B EBITDA, now 1.6B EBITDA

Now 2.5 Debt/EBITDA (at the bottom of a cycle)

Nearly 500K contiguous acres bolt on, 2nd most economic in Marcellus only to COG core.

RRC shareholders still keep a healthy share price upside, as gas and NGls rebound over 5 years.

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Post ID: @1mwo+13wlHYDx

I seriously doubt that Dan Dinges, CEO of Cabot, will take on RRC debt and trigger the payments due five senior Range executives under change of control provisions. These payments would exceed $20MM. It is difficult to believe these individuals are still employed and entitled to additional compensation based on the financial performance of the company over their ten year reign.

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Post ID: @1rdu+13wlHYDx

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