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.
Range Resources Corporation (NYSE: RRC) reported its fourth quarter 2022 results, with a record $1.9 billion in cash flow and $1.5 billion returned to shareholders via share repurchases and debt reduction. Average production reached 2,121 Mmcfe per day, while the capital spending totaled $492 million. Proved reserves stood at 18.1 Tcfe, with future net cash flow estimated at $24.5 billion. The 2023 capital budget is set between $570 million to $615 million to maintain production levels. The company also enhanced its hedge positions for 2023 and 2024 to secure cash flows. CEO Jeff Ventura emphasized the company's strong financial position and plans for future growth.
Range Resources Corporation (NYSE: RRC) reported a 2% increase in year-end 2022 proved reserves, totaling 18.1 trillion cubic feet equivalent (Tcfe), alongside a present value (PV10) of $29.6 billion. The reserves comprise 65.3% natural gas, 33.3% natural gas liquids, and 1.4% crude oil. The company identified 367 proven undeveloped locations within its five-year plan, supporting its asset quality. Notably, 1.7 Tcfe of reserves were added through operational performance, marking 15 consecutive years of positive revisions. However, 1,381 Bcfe was reclassified from proved undeveloped to unproved due to SEC regulations.
Range Resources Corporation (NYSE: RRC) announced its fourth-quarter 2022 production averaged approximately 2,204 Mmcfe per day. The company realized $24.5 million in contingent derivative settlement gains during this quarter. Natural gas production averaged 1,517 Mmcf per day, with realization prices reaching $5.71 per mcf. NGL production averaged 107,806 barrels per day, with average prices at $27.83 per barrel. Additionally, crude oil production averaged 6,696 barrels per day, with prices averaging $55.83 per barrel, including settled hedges. Range has potential additional contingent payments of $21.0 million based on 2023 commodity prices.
Range Resources Corporation (NYSE: RRC) will announce its fourth quarter 2022 financial results on February 27, 2023, after market close. A conference call to discuss these results is set for February 28, 2023, at 9:00 a.m. ET. The call will be accessible via a webcast on the company's website, with an archive available until March 28, 2023. Range Resources is a prominent U.S. independent natural gas and NGL producer, focusing on operations in the Appalachian Basin.
Range Resources Corporation (NYSE: RRC) has declared a quarterly cash dividend of $0.08 per common share for Q4 2022. This dividend is payable on December 30, 2022, to stockholders of record as of the close of business on December 15, 2022. Range Resources, a leading independent producer of natural gas and NGL in the Appalachian Basin, continues to affirm its commitment to returning value to shareholders.
Range Resources Corporation (NYSE: RRC) reported record financial highlights for Q3 2022, achieving the highest cash flow from operating activities in its history at $521 million. The company initiated a quarterly dividend of $0.08 and increased its share repurchase authorization by $1 billion, totaling $1.5 billion. Production averaged 2.13 Bcfe per day, with strong realizations before NYMEX hedges at $7.40 per mcfe. Net income stood at $373 million, or $1.49 per diluted share, despite a $458 million mark-to-market derivative loss. The firm maintains a solid leverage ratio of 1.0x and expects capital expenditures to reach the upper end of its $460 million to $480 million guidance.
Range Resources Corporation (NYSE: RRC) will release its third quarter 2022 financial results on October 24, post-market close. A conference call to discuss these results is scheduled for October 25 at 9:00 a.m. ET. Interested parties can access a webcast of the call on the company's website, with the replay available until November 23, 2022. Range Resources is a major independent natural gas and NGL producer, primarily operating in the Appalachian Basin, headquartered in Fort Worth, Texas.
Range Resources Corporation (NYSE: RRC) announced a quarterly cash dividend of $0.08 per common share, payable on September 30, 2022, to stockholders of record as of September 15, 2022. The company, headquartered in Fort Worth, Texas, specializes in natural gas and NGL production with a focus on the Appalachian Basin. This dividend reflects a commitment to returning value to shareholders while maintaining operational focus on stacked-pay projects.
Range Resources Corporation (NYSE: RRC) reported second-quarter 2022 results, achieving GAAP revenues of $1.23 billion and net income of $453 million ($1.77 per diluted share). Production averaged 2.1 Bcfe per day, predominantly natural gas, with significant increases in realized prices, notably $7.18 per mcfe. Capital expenditures were $127 million, and the company repurchased 4.5 million shares, reducing total debt by $217 million. The leverage ratio improved to a record low of 1.2x, enhancing prospects for shareholder returns through dividends and ongoing buybacks.
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