THEY DISCLOSE THE HAZARDS & RISKS TO THE SHAREHOLDER AND TELL THE PUBLIC IT’S ALL SUNSHINE & ROSES. Robert Donnan 36 minutes ago Excerpt from page 26 of Range Resources annual 10-K for the fiscal year ended December 31, 2013: Our business is subject to operating hazards that could result in substantial losses or liabilities that may not be fully covered under our insurance policies. Natural gas, NGLs and oil operations are subject to many risks, including well blowouts, craterings, explosions, uncontrollable flows of oil, natural gas or well fluids, fires, pipe or cement failures, pipeline ruptures or spills, vandalism, pollution, releases of toxic gases, adverse weather conditions or natural disasters, and other environmental hazards and risks. If any of these hazards occur, we could sustain substantial losses as a result of: injury or loss of life; severe damage to or destruction of property, natural resources and equipment; pollution or other environmental damage; investigatory and cleanup responsibilities; regulatory investigations and penalties or lawsuits; suspension of operations; and repairs to resume operations. We maintain insurance against many, but not all, potential losses or liabilities arising from our operations in accordance with what we believe are customary industry practices and in amounts and at costs that we believe to be prudent and commercially practicable. Our insurance includes deductibles that must be met prior to recovery, as well as sub-limits and/or self-insurance. Additionally, our insurance is subject to exclusions and limitations. Our insurance does not cover every potential risk associated with our operations, including the potential loss of significant revenues. We can provide no assurance that our coverage will adequately protect us against liability from all potential consequences, damages and losses. WHAT, ME WORRY?
Posted on: Wed, 23 Apr 2014 12:38:54 +0000
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