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Actionable news in RRC: RANGE RESOURCES CORP,

Range Resources to Buy Memorial Resource Development for $3.3 Billion

Workers stand behind the top of a pump for the hydraulic fracturing process in the...

The agreement also calls for Range to take on $1.1 billion in debt owed by Memorial. Range will absorb the smaller driller, adding its Louisiana operations to existing acreage and wells across Pennsylvania, Texas and Oklahoma.

Once it closes, the transaction will rank as one of just a handful of deals executed between sizable independent U.S. energy producers during the oil-and-gas downturn.

Jeff Ventura, chief executive of...