Range is committed to maintaining the highest ethical standards when it engages in political activity. We believe it is important to constructively participate in the political process to further the best interests of our stockholders, while benefiting the communities where we live and work. Our approach to political engagement is guided by this basic belief.
The political process is important to Range Resources and the company’s growth and success. Relationships with public officials and candidates for public office are an important way of providing input to and constructively participating in the political process. We communicate regularly with public officials, including elected officials, to seek their understanding of and support on issues of importance to Range and to promote the company’s interests in safely and efficiently developing domestic oil and natural gas. Political corporate contributions are made to support those entities engaged in the political process whose position on issues of importance align with Range’s. Supporting public policy at the national, state and local levels which moves forward the safe exploration, production, transportation and use of natural gas is important to Range Resources not only for our success but for the success of our industry, our partners and our nation’s economy and security.
When Range makes political contributions, these contributions will be made in accordance with all applicable laws and regulations and the company’s Code of Business Conduct and Ethics. Furthermore, contributions are reviewed and approved by appropriate levels of senior management of the Company. Range adheres to the following guidelines for all political contributions:
- Political spending will reflect the interests of the Company and its stockholders – not those of any individual officers or directors. Party affiliation will not be a factor used in determining whether to make a contribution.
- The board of directors or a committee of the board monitors Range’s political spending, receive regular reports from corporate officers responsible for the spending, supervise policies and procedures for such spending and reviews the purpose and benefits of the expenditures.
- All corporate political expenditures will receive prior written approval from the General Counsel and Government Affairs Department, and Range will identify senior officers responsible for approving corporate political expenditures.
- Range prioritizes making political expenditures directly in the form of PAC donations rather than through third party groups. In the event that Range is unable to make a direct contribution the company will monitor the use of its dues or payments to other organizations for political purposes to assure consistency with Range’s stated policies, practices, values and long term interests of the company and its stockholders.
- No contribution will be given in anticipation of, in recognition of, or in return for an official act.
- Employees will not be reimbursed directly or through compensation increases for personal political contributions or expenses.
- Range will not pressure or coerce employees to make any personal political expenditure or take any retaliatory action against employees who do not.
- The company will report annually on its website on its adherence to its code for corporate political spending.
One of the ways Range engages in the policy-making process is by participating in various business and industry forums and trade associations. We believe these activities help to create a positive understanding of, and appreciation for, the oil and natural gas industry and the critical role the industry plays regionally and nationally.
The board of directors reviews contributions made to trade associations and organizations at their regular meetings.
Trade associations Range is an active member of include: Marcellus Shale Coalition, Independent Petroleum Association of America, American Exploration & Production Council, US Chamber of Commerce and the National Association of Manufacturers.
Reporting and Disclosure
Range files all public reports and information concerning the PAC with the appropriate Pennsylvania governmental authorities.
Range’s Board of Directors receives a report regarding the PAC’s recent activities and other political spending by the Company at each of the Board’s regular meetings. We believe that this Board oversight is consistent with good governance practices.