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Component: (Network and Table)
Network
100340 - Disclosure - Indebtedness (Tables)
(http://www.rangeresources.com/20161231/taxonomy/role/DisclosureIndebtednessTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Debt Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Debt Disclosure [Abstract]
 
Debt Outstanding

We had the following debt outstanding as of the dates shown below (in thousands) (bank debt interest rate at December 31, 2016 is shown parenthetically). The expenses of issuing debt are capitalized and included as a reduction to debt in the accompanying consolidated balance sheets. These costs are amortized over the expected life of the related instruments. When debt is retired before maturity, or modifications significantly change the cash flows, the related unamortized costs are expensed. No interest was capitalized during 2016, 2015, and 2014.

 

 

December 31,

2016

 

 

 

December 31,

2015

 

Bank debt (2.4%) (a)

$

882,000

 

 

$

95,000

 

Senior notes

 

 

 

 

 

 

 

4.875% senior notes due 2025

 

750,000

 

 

 

750,000

 

5.00% senior notes due 2023

 

741,514

 

 

 

 

5.00% senior notes due 2022

 

580,032

 

 

 

 

5.75% senior notes due 2021

 

475,952

 

 

 

 

5.875% senior notes due 2022 (b)

 

329,244

 

 

 

 

Other senior notes due 2022 (c)

 

1,090

 

 

 

 

Total senior notes

 

2,877,832

 

 

 

750,000

 

Senior subordinated notes

 

 

 

 

 

 

 

5.00% senior subordinated notes due 2023

 

7,712

 

 

 

750,000

 

5.00% senior subordinated notes due 2022

 

19,054

 

 

 

600,000

 

5.75% senior subordinated notes due 2021

 

22,214

 

 

 

500,000

 

Total senior subordinated notes

 

48,980

 

 

 

1,850,000

 

Total debt

 

3,808,812

 

 

 

2,695,000

 

Unamortized premium

 

7,258

 

 

 

 

Unamortized debt issuance costs

 

(42,553

)

 

 

(43,697

)

Total debt net of debt issuance costs

$

3,773,517

 

 

$

2,651,303

 

(a) As of September 16, 2016, we repaid the $597.0 million balance outstanding on the Memorial credit facility with funds borrowed under the Range credit facility and terminated the Memorial credit facility.

(b) Represents senior notes assumed in the MRD Merger that were not purchased for cash but were exchanged for Range 5.875% senior notes due 2022. See Senior Note Exchange and Cash Tender Offer below.

(c) Represents the remaining Memorial 5.875% senior notes assumed in the MRD Merger that were not purchased for cash or were not exchanged for Range 5.875% senior notes due 2022. See Senior Note Exchange and Cash Tender Offer below.

 
 
Summary of Debt Exchange Offer to Exchange Validly Tendered and Accepted Range Senior Subordinated Notes

On September 16, 2016, we also completed our debt exchange offer to exchange all validly tendered and accepted Range senior subordinated notes as detailed below (in thousands):

Existing Note

 

New Note

 

Principal Amount

of Notes

Validly Tendered

 

Approximate

Percentage

Validly Tendered

5.00% senior subordinated notes due 2023

 

5.00% senior notes due 2023

 

$742,291

 

99.0%

 

 

 

 

 

 

 

5.00% senior subordinated notes due 2022

 

5.00% senior notes due 2022

 

$580,946

 

96.8%

 

 

 

 

 

 

 

5.75% senior subordinated notes due 2021

 

5.75% senior notes due 2021

 

$477,786

 

95.6%

 

 
 
Schedule for Long-Term Debt Outstanding

The following is the principal maturity schedule for our long-term debt outstanding as of December 31, 2016 (in thousands):

 

Year Ended
December 31,

 

2017

$

 

2018

 

 

2019

 

882,000

 

2020

 

 

2021

 

498,166

 

Thereafter

 

2,428,646

 

 

$

3,808,812