Range Announces Fourth Quarter Production, Pricing & Capital Spending
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.
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Rhea-AI Summary
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.
Positive
- Fourth quarter 2021 production averaged 2,198 Mmcfe per day.
- Natural gas realization was $5.38 per mcf, highest since 2014.
- Total capital expenditures in 2021 were $414 million, below guidance.
- Realized $29.5 million in contingent derivative settlement gains.
Negative
- None
Details
News Market Reaction – RRC
The recorded move for RRC in the trading session of this news was +5.72%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Range Announces Conference Call to Discuss Fourth Quarter 2021 Financial Results
FORT WORTH, Texas, Feb. 09, 2022 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that fourth quarter 2021 production averaged approximately 2,198 Mmcfe per day, and fourth quarter 2021 all-in capital spending totaled
Production and Pricing
Fourth quarter 2021 daily natural gas production averaged approximately 1,534 Mmcf per day. The average natural gas realization, including the impact of basis hedges, was
Fourth quarter 2021 daily NGL production averaged approximately 102,126 barrels per day. Pre-hedge NGL realizations were
Fourth quarter 2021 daily oil and condensate production averaged approximately 8,674 barrels per day. Crude oil and condensate price realizations, before realized hedges, averaged
Capital Expenditures
Fourth quarter 2021 drilling and completion expenditures were
Contingent Derivatives
In fourth quarter 2021, Range realized a total of
Conference Call Information
Range’s fourth quarter 2021 financial results news release will be issued Tuesday, February 22 after the close of trading on the New York Stock Exchange.
A conference call to review the financial results is scheduled on Wednesday, February 23 at 9:00 a.m. ET (8:00 a.m. CT). A webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company's website until March 22, 2022.
RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused on stacked-pay projects in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.
Range Investor Contacts:
Laith Sando, Vice President – Investor Relations
817-869-4267
lsando@rangeresources.com
Range Media Contacts:
Mark Windle, Director of Corporate Communications
724-873-3223
mwindle@rangeresources.com
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