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 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.
Range Resources Corporation (NYSE: RRC) reported third quarter 2021 financial results, revealing GAAP revenues of $303 million and an adjusted net income of $130 million ($0.52 per diluted share). Production averaged 2.14 Bcfe per day, with capital expenditures totaling $96 million. The company reduced total debt by $91 million, refining its 2021 capital budget to $415 million. Notably, improved natural gas and NGL realizations were observed, alongside a forecasted cash flow increase of over $100 million from NGL sales. CEO Jeff Ventura emphasized commitments to sustainable free cash flow and disciplined spending.
Range Resources Corporation (NYSE: RRC) will release its third quarter 2021 financial results on October 26 after market close. A conference call to discuss these results is scheduled for October 27 at 9:00 a.m. ET, accessible via a webcast on their website. The archive will be available until November 26. Range Resources is a prominent U.S. independent producer of natural gas and NGLs, focusing operations in the Appalachian Basin.
Range Resources Corporation (NYSE: RRC) announced the appointment of Reginal W. Spiller to its Board of Directors, effective September 27, 2021, following Dr. Steffen A. Palko's retirement. Reg Spiller brings over 40 years of experience in the oil and gas sector, including a notable career at the U.S. Department of Energy and as President and CEO of Azimuth Energy Investments. Chairman Greg Maxwell expressed confidence in Spiller's capabilities, while Dr. Palko reflected on the company’s progress during his tenure and the importance of natural gas for future energy needs.
Range Resources Corporation (NYSE: RRC) reported Q2 2021 financial results with GAAP revenues reaching $435 million and a net loss of $156 million ($0.65 per diluted share), impacted by a $250 million derivative loss. The company generated $177 million in cash flow from operations and reported production averaging 2.10 Bcfe per day, with a significant portion from liquids. Capital spending totaled $120 million. Range announced a commitment to responsibly sourced natural gas certification through a pilot project with Project Canary.
Range Resources Corporation (NYSE: RRC) will release its second quarter 2021 financial results on July 26 after the market closes. A conference call to discuss the results is scheduled for July 27 at 9:00 a.m. ET, with a webcast accessible for replay until August 27. Range Resources operates primarily in the Appalachian Basin as an independent natural gas and NGL producer.
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