Range Resources Corporation

Equities

RRC

US75281A1097

Oil & Gas Exploration and Production

Market Closed - Nyse Other stock markets 04:00:01 2024-04-26 pm EDT			5-day change	1st Jan Change
37.31 ^USD	-0.90%		+5.78%	+22.57%

Apr. 26	Range Resources Insider Sold Shares Worth $603,131, According to a Recent SEC Filing	MT
Apr. 26	RBC Downgrades Range Resources to Sector Perform From Outperform, Lifts Price Target to $39 From $36	MT

Range Announces Fourth Quarter Production and Pricing

February 06, 2024 at 05:00 pm EST

FORT WORTH, Texas, Feb. 06, 2024 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced fourth quarter 2023 expectations for production and pricing with fourth quarter production averaging approximately 2,207 Mmcfe per day. In addition, Range realized $8.0 million in contingent derivative settlement gains in fourth quarter 2023.

Production and Pricing

Fourth quarter 2023 daily natural gas production averaged approximately 1,540 Mmcf per day. The average natural gas realization, including the impact of basis hedges, was $2.40 per mcf, a ($0.48) per mcf differential to NYMEX. The average natural gas price, including all settled hedges, was $2.68 per mcf.

Fourth quarter 2023 daily NGL production averaged approximately 104,038 barrels per day. NGL realizations were $24.91 per barrel, approximately $2.42 above the Mont Belvieu weighted equivalent.

Fourth quarter 2023 daily oil and condensate production averaged approximately 7,136 barrels per day. Crude oil and condensate price realizations, before realized hedges, averaged $67.72 per barrel, approximately $10.56 below WTI (West Texas Intermediate). The average condensate price, including settled hedges, was $63.42 per barrel.

Contingent Derivatives

In fourth quarter 2023, Range realized a total of $8.0 million in contingent derivative settlement gains related to the North Louisiana divestiture. This represents the final year of divestiture contingent payments, and Range expects to receive the cash proceeds in the first half of 2024.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

SOURCE: Range Resources Corporation

Range Investor Contact:

Laith Sando, Vice President – Investor Relations
817-869-4267
lsando@rangeresources.com

Range Media Contact:

Mark Windle, Director of Corporate Communications
724-873-3223
mwindle@rangeresources.com

Source: Range Resources Corporation

2024 GlobeNewswire, Inc., source Press Releases

Latest news about Range Resources Corporation

Range Resources Insider Sold Shares Worth $603,131, According to a Recent SEC Filing	Apr. 26	MT
RBC Downgrades Range Resources to Sector Perform From Outperform, Lifts Price Target to $39 From $36	Apr. 26	MT
Susquehanna Adjusts Price Target on Range Resources to $38 From $36, Keeps Neutral Rating	Apr. 25	MT
Truist Lifts Price Target on Range Resources to $31 From $30, Keeps Hold Rating	Apr. 25	MT
Stephens Adjusts Price Target on Range Resources to $42 From $41, Keeps Overweight Rating	Apr. 24	MT
Transcript : Range Resources Corporation, Q1 2024 Earnings Call, Apr 24, 2024	Apr. 24
Range Resources Guides for 'All-In' Capital Budget of $620 million to $670 Million, Nearly Flat Production in 2024	Apr. 23	MT
Range Resources Concludes Q1 With No Share Buybacks, About $1.1 Billion Available Under Program	Apr. 23	MT
Range Resources Q1 Adjusted Earnings, Sales Decline	Apr. 23	MT
Tranche Update on Range Resources Corporation's Equity Buyback Plan announced on October 21, 2019.	Apr. 23	CI
Range Resources Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024	Apr. 23	CI
Earnings Flash (RRC) RANGE RESOURCES CORPORATION Posts Q1 Revenue $718.2M, vs. Street Est of $708.6M	Apr. 23	MT
Stifel Nicolaus Adjusts Range Resources Price Target to $39 From $36, Maintains Buy Rating	Apr. 23	MT
Susquehanna Adjusts Price Target on Range Resources to $36 From $34, Maintains Neutral Rating	Apr. 22	MT
Piper Sandler Adjusts Range Resources Price Target to $41 From $40, Maintains Overweight Rating	Apr. 19	MT
UBS Raises Range Resources Price Target to $28 From $25, Maintains Sell Rating	Apr. 11	MT
Scotiabank Downgrades Range Resources to Sector Perform From Sector Outperform, Raises Price Target to $45 From $40	Apr. 11	MT
Citigroup Raises Price Target on Range Resources to $37 From $33, Maintains Neutral Rating	Apr. 03	MT
Range Resources Corporation Announces Executive Changes	Mar. 15	CI
Mizuho Securities Raises Range Resources Price Target to $39 From $37, Maintains Buy Rating	Mar. 13	MT
Wells Fargo Adjusts Price Target on Range Resources to $34 From $32, Maintains Equalweight Rating	Mar. 12	MT
Piper Sandler Cuts Range Resources' Price Target to $40 From $42, Maintains Overweight Rating	Mar. 07	MT
Range Resources Keeps Quarterly Dividend at $0.08 a Share, Payable March 29 to Shareholders of Record March 15	Mar. 01	MT
Range Resources Corporation Declares Quarterly Cash Dividend, Payable on March 29, 2024	Mar. 01	CI
Truist Securities Trims Price Target on Range Resources to $32 From $33, Maintains Hold Rating	Feb. 23	MT

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Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and crude oil and condensate company. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties in the Appalachian region of the United States. Its principal area of operations is the Marcellus Shale in Pennsylvania. Its properties consist of interests in developed and undeveloped natural gas and oil leases. It owns approximately 1,466 net producing wells in Pennsylvania. It has an unbooked resource potential within the Marcellus, Utica/Point Pleasant and Upper Devonian formations. Its exploration and production operations are limited to the onshore United States. It has approximately 860,000 gross (753,000 net) acres under lease. Its subsidiaries include Range Resources-Appalachia, LLC, Range Resources-Pine Mountain, LLC, Range Production Company, LLC, Range Resources-Midcontinent, LLC and Range Resources-Louisiana, Inc.

Sector

Oil & Gas Exploration and Production

Calendar

2024-05-08 - Annual General Meeting

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Ratings for Range Resources Corporation

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Investor Rating

ESG Refinitiv

B-

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Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

37.31 USD

Average target price

37.15 USD

Spread / Average Target

-0.43%

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