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 Corporation (NYSE: RRC) reported its first quarter 2022 financial results, highlighting revenues of $181 million and net cash from operations of $406 million. Key metrics include a production average of 2,071 Mmcfe per day, with over 70% from natural gas. Notably, the company achieved pre-hedge NGL realizations of $40.03 per barrel. A substantial debt reduction of $350 million was accomplished, alongside a reaffirmed $3.0 billion borrowing base. Adjusted net income for Q1 was reported at $297 million, with strong operational efficiency reflected in capital spending at 25% of the 2022 budget.
Range Resources Corporation (NYSE: RRC) announced its first quarter 2022 financial results will be released on April 26 after market close. A conference call for discussion of these results is scheduled for April 27 at 9:00 a.m. ET. Range Resources is a prominent independent natural gas and NGL producer, primarily operating in the Appalachian Basin. Investors can access the webcast of the call on the company's website, where it will be available for replay until May 26, 2022.
U.S. Well Services (USWS) announced a contract extension with Range Resources (RRC) for its electric fleet, effective November 2022. This agreement will support Range's completion program in the Appalachian region until the end of 2024. USWS CEO Joel Broussard emphasized the importance of this partnership, particularly due to rising diesel prices and environmental concerns. The use of electric fracturing technology aims to enhance operational efficiency while reducing emissions. Range Resources aims for net zero greenhouse gas emissions by 2025, aligning with its sustainability goals.
Range Resources Corporation (NYSE: RRC) reported strong fourth quarter and full-year 2021 financial results, reducing net debt by $379 million and achieving record NGL realizations averaging $1.18 per barrel above Mont Belvieu. The company announced a $500 million share repurchase program and reinstated its cash dividend at $0.32 per share, expected to begin in the second half of 2022. Anticipating over $1 billion in free cash flow for 2022, Range projects capital spending of $460-$480 million while maintaining production between 2.12-2.16 Bcfe per day.
Range Resources Corporation (NYSE: RRC) announced its fourth quarter 2021 financial results, reporting production of approximately 2,198 Mmcfe per day and all-in capital expenditures totaling $92.3 million. Natural gas production averaged 1,534 Mmcf per day, with pre-hedge realizations reaching $5.38 per mcf, the highest since 2014. The company achieved $29.5 million in contingent derivative settlement gains during the quarter. Additionally, total capital expenditures for 2021 were $414 million, below the guidance of $425 million. A conference call to discuss these results is set for February 23, 2022.
Range Resources Corporation (NYSE: RRC) reported a 3% increase in year-end 2021 proved reserves, reaching 17.8 Tcfe and a present value (PV10) of $14.9 billion, equating to approximately $40 per share net of debt. The company added 1.6 Tcfe of proved reserves through drilling, with notable contributions from the Marcellus shale. Despite removing 1,323 Bcfe from proved undeveloped reserves, they expect these to be added back in future years. Range's operations show over 360 planned wells for development, emphasizing strong inventory depth for sustainable shareholder value.
Range Resources Corporation (NYSE: RRC) has announced a $500 million offering of senior notes due 2030, with an interest rate of 4.75%. The expected net proceeds are approximately $492 million, which will be used to redeem all outstanding 9.25% senior notes due 2026. The sale is set to close on February 1, 2022, pending customary conditions. The offering is limited to qualified institutional buyers, and the Notes will not be registered under the Securities Act. Range focuses on high-return, low-cost natural gas projects in the Appalachian Basin.
Range Resources Corporation (NYSE: RRC) announced plans to offer $500 million of senior notes due 2030 in a private placement, subject to market conditions. The proceeds will be used, along with cash on hand, to redeem all outstanding 9.250% senior notes due 2026, with a redemption price of 106.938% plus accrued interest. Range will notify holders of the 2026 notes of the redemption, contingent upon the completion of the offering. The notes will not be registered under the Securities Act, and only eligible institutional buyers can participate.
Rising Phoenix Royalties (RPR) has acquired 98 net royalty acres in the Marcellus Shale region of Washington County, PA, from Range Resources Corporation (RRC), an established player in the natural gas sector. This acquisition is part of a strategic move as RPR's clients aim to divest from volatile oil and gas royalties, citing increasing regulations and potential unfavorable tax implications. RPR emphasizes thorough evaluations of mineral interests to guide owners in making informed decisions. With over $140 million in asset management since 2009, RPR continues to expand its portfolio.
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