Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2017

Summary of Final Allocation of Total Purchase Price

The following table represents the final allocation of the total purchase price of the MRD Merger to the assets acquired and the liabilities assumed based on the fair value at the effective time of the MRD Merger, with any excess of the purchase price over the estimated fair value of the identifiable net assets acquired recorded as goodwill (in thousands, except shares and stock price):

Purchase price:
Shares of Range common stock issued to Memorial stockholders		77,042,749
Range common stock price per share at September 15, 2016 (close)	$	39.37
Total purchase price	$	3,033,173

Plus fair value of liabilities assumed by Range:
Accounts payable	$	55,624
Other current liabilities		108,367
Long-term debt		1,204,449
Deferred taxes		547,706
Other long-term liabilities		77,223
Total purchase price plus liabilities assumed	$	5,026,542

Fair value of Memorial assets:
Cash and equivalents	$	7,180
Other current assets		99,969
Derivative instruments		152,994
Natural gas and oil properties:
Proved property		1,122,311
Unproved property		1,999,187
Other property and equipment		3,579
Goodwill ^(a)		1,641,197
Other		125
Total asset value	$	5,026,542

^(a)Goodwill will not be deductible for income tax purposes.

Summary of Pro Forma Financial Information

The pro forma condensed combined financial information is not necessarily indicative of the results that might have actually occurred had the MRD Merger taken place on January 1, 2016. In addition, the pro forma financial information below is not intended to be a projection of future results (in thousands, except per share amounts).


	Three Months Ended September 30,			Nine Months Ended September 30,
	2016			2016
Revenues	$	521,669		$	1,080,768
Net loss	$	(18,257	)	$	(431,225	)

Loss per share:
Basic	$	(0.08	)	$	(1.77	)
Diluted	$	(0.08	)	$	(1.77	)