Welcome to our dedicated page for Range Resources news (Ticker: RRC), a resource for investors and traders seeking the latest updates and insights on Range Resources stock.
Range Resources Corporation reports recurring developments tied to its Appalachian Basin natural gas and NGL production business. Company news commonly covers quarterly operating and financial results, production mix, capital spending, realized commodity prices, basis and hedging impacts, NGL realizations, and marketing arrangements for U.S. and international demand.
Range Resources updates also address shareholder-return actions such as dividends and common-stock repurchases, debt reduction, reserve and guidance commentary, and board or governance matters. The company is an independent U.S. exploration and production company whose common stock trades on the New York Stock Exchange under the symbol RRC.
Range Resources (NYSE: RRC) has announced the retirement of Steve Gray from its Board of Directors, effective October 1, 2024. Gray, who joined the board in 2018, has been praised for his contributions to making Range a more resilient and efficient Marcellus operator. Chairman Greg Maxwell expressed gratitude for Gray's service, highlighting his role in helping the company generate free cash flow and returns of capital through price cycles.
Gray reflected on his tenure, noting Range's successful navigation through challenging times, including volatile commodity prices and the pandemic. He emphasized the company's improved balance sheet, consistent high performance, and capital returns to shareholders. Gray stated that Range is now in its best shape historically, with an inventory of de-risked, high-quality wells capable of delivering significant shareholder value for decades.
Range Resources (NYSE: RRC) reported its Q2 2024 financial results, highlighting cash flow from operating activities of $149 million and capital spending of $175 million, about 27% of the 2024 budget. Production averaged 2.15 Bcfe per day, with 69% natural gas. The company repurchased ~$48 million face value of 2025 senior notes at a discount and 600,000 shares at an average of $33.42 per share.
GAAP revenues totaled $530 million, with net income of $29 million ($0.12 per diluted share). Non-GAAP revenues were $641 million. Range's pre-hedge NGL price was $24.35 per barrel, $1.26 above Mont Belvieu equivalent. The company improved its full-year NGL price guidance to Mont Belvieu equivalent plus $0.75 to $1.50 per barrel.
Range is targeting a maintenance production program for 2024, expecting approximately flat production at 2.12 – 2.16 Bcfe per day, with over 30% attributed to liquids production.
Range Resources (NYSE: RRC) has published its 2023-2024 Corporate Sustainability Report, highlighting significant progress in environmental stewardship, community impact, safety leadership, and responsible governance. Key achievements include:
- 67% reduction in methane emissions intensity since 2019
- Exceeded goal of reducing GHG emission intensity by 15% relative to 2019 levels
- Recycled approximately 100% of 11.2 million barrels of flowback and produced water
- Received an 'A' grade rating from MiQ for Southwest Pennsylvania operations
- Invested $985,000 in communities, including $159,500 to first responders
- Achieved 0.00 Total Recordable Incident Rate (TRIR) and 0.00 Days Away, Restricted, or Transferred (DART) rate
- Earned a 'AAA' ESG Rating from MSCI
Range remains committed to merging long-term economic objectives with environmental and social responsibility, positioning itself as a low-cost, resilient producer with a competitive emissions profile.
Range Resources (NYSE: RRC) announced it will release its second quarter 2024 financial results on July 23, 2024, after the market closes. The company will also hold a conference call to discuss the results on July 24, 2024, at 9:00 a.m. ET. The call can be accessed via webcast on the company's website, which will remain available for replay until August 24, 2024. Range Resources is a major U.S. independent producer of natural gas and NGLs, with operations primarily in the Appalachian Basin. The company is based in Fort Worth, Texas.
On May 31, 2024, Range Resources (NYSE: RRC) announced a quarterly cash dividend of $0.08 per common share for the second quarter. The dividend will be payable on June 28, 2024, to shareholders of record as of June 14, 2024. Range Resources, headquartered in Fort Worth, Texas, is a prominent independent natural gas and NGL producer operating mainly in the Appalachian Basin.
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