Thread regarding Range Resources Corp. layoffs

How do you make $4.5 billion disappear?

Buy MRD. Range did no due diligence when they bought MRD because they needed a boost in pdp reserves quickly. They then fired all the N. LA ops guys and MRD accountants that Range brought on with the acquisition. After reading the 2Q call transcript it's clear that they are trying to blame the poor performance in N. LA on MRD. Which is probably accurate, but the RRC shareholders are the ones that are getting hosed the most. It's okay, the CEO makes $9.8MM a year and the wildhorse/MRD principals and others made hundreds of millions on the desperation and ineptitude of the RRC executive team. Quit before you get fired.

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Post ID: @OP+OBHeAqv

3 replies (most recent on top)

Range wishes their market cap was 6 Billion. They have lost an additional 4 Billion in market cap since the last reply a year ago. Now worth 2 Billion dollars. Ventura, Degner, Scucchi, Farquharson, Ginn, Poole, Roy and the whole BOD need to be investigated by the SEC. They have all made millions while simultaneously destroying this company and vast amounts of shareholder dollars. Unreal.

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Post ID: @aIipj+OBHeAqv

And 6 months later, another $1.5B. $-6 Billion in market cap in 13 months. How are the execs able to look in the mirror, at their employees, to their investors?

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Post ID: @31sic+OBHeAqv

NLA is just a watered down milkshake running dry. The only way out of this death spiral is to get rid of the executive team because they have proven time and time again that their decision making skills are lacking a sound basis. But don't worry, Range will science their way out of this, right???

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Post ID: @7wbt+OBHeAqv

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