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 (RRC) is a leading independent oil and natural gas producer based in Fort Worth, Texas. Specializing in stacked-pay projects, the company's operations are primarily focused in the prolific Marcellus Shale in Pennsylvania, as well as in Northern Louisiana. With a robust portfolio, Range Resources had proven reserves totaling 18.1 trillion cubic feet equivalent at the end of 2023, and a net production rate of 2.14 billion cubic feet equivalent per day, with natural gas making up 69% of this production.
Recent Achievements and Current Projects:
- Range has stayed within its original 2023 capital guidance, thanks to faster drilling and completion times, which allowed five wells planned for early 2024 to be turned to sales in late 2023.
- The company has issued detailed 2024 capital and production guidance to maintain current production levels, aiming to turn approximately 650,000 lateral feet to sales each year.
- Range has updated its full-year 2023 and 2024 financial and operational guidance, reflecting adjustments in price differentials based on recent market conditions.
The company's financial condition remains strong as it continues to navigate the complexities of the energy market. Range Resources frequently engages with investors and stakeholders, providing regular updates through conference calls and webcasts. Their commitment to transparency and operational efficiency makes them a noteworthy player in the oil and natural gas sector. For more information, visit www.rangeresources.com.
On April 24, 2023, Range Resources Corporation (NYSE: RRC) reported strong first-quarter financial results, highlighting robust operational performance. Key figures include cash flow from operating activities of $475 million and a net income of $481 million ($1.95 per diluted share). The company executed share repurchases totaling 400,000 shares at an average price of $24.16. Production averaged 2.14 Bcfe per day, approximately 70% of which was natural gas. Price realizations for natural gas reached $4.00 per mcfe, showing a $0.54 premium over NYMEX. For 2023, Range anticipates maintaining production levels while managing capital expenditures projected between $570 million and $615 million. The company is focused on maximizing efficiency and delivering long-term shareholder value.
Range Resources Corporation (NYSE: RRC) will release its first quarter 2023 financial results on April 24 after market close. The results will be discussed in a conference call scheduled for April 25 at 9:00 a.m. ET. Investors can access the call via a webcast on the company's website, which will remain available for replay until May 25, 2023. Range Resources is a premier independent producer of natural gas and NGL, with operations in the Appalachian Basin. Their financial performance will be closely monitored as it reflects the company's position in the energy sector.
Range Resources Corporation (NYSE: RRC) announced the retirement of CEO Jeff Ventura, effective June 2, 2023, after nearly 20 years with the company. Dennis Degner, currently the Executive VP and COO, will take over as President and CEO at the annual shareholder meeting on May 10, 2023. Degner, who has over 25 years in shale gas development, has played a key role in the company’s success in the Marcellus Shale. The Board has also promoted Mark S. Scucchi to Executive VP and CFO, recognizing his contributions to the company’s financial management. This leadership transition aims to sustain Range's strong performance and shareholder value.
Range Resources Corporation (NYSE: RRC) has declared a quarterly cash dividend of $0.08 per common share for the first quarter of 2023. This dividend is payable on March 31, 2023, to stockholders of record as of March 15, 2023. As a prominent independent producer of natural gas and NGL, Range operates mainly within the Appalachian Basin. The board's decision reflects a commitment to returning value to shareholders while indicating the company's stable financial position.
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