Range Resources Corporation

Equities

RRC

US75281A1097

Oil & Gas Exploration and Production

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May. 08	Transcript : Range Resources Corporation - Shareholder/Analyst Call
Apr. 30	Piper Sandler Adjusts Price Target on Range Resources to $43 From $41, Maintains Overweight Rating	MT

Range Resources : 3Q 2023 - Details of Hedging

October 24, 2023 at 05:06 pm EDT

RANGE RESOURCES CORPORATION

CONSOLIDATED GAS HEDGE POSITION

As of 10/12/2023

		GAS SWAPS							GAS 3-WAY COLLARS									GAS COLLARS						TOTAL
	Hedged		Hedged		Hedged		Hedged		Hedged		Sold Put	Long Put		Sold Call		Hedged		Hedged			Floor		Ceiling		Hedged
	Volumes		Volumes			Price		Volumes		Volumes			Price		Price			Price		Volumes		Volumes			Price		Price		Volumes
	MMBtu		MMBtu/day					MMBtu		MMBtu/day											MMBtu		MMBtu/day							MMBtu
CALENDAR YEAR 2023
Oct-23	11,780,000	380,000	$	3.50	4,340,000	140,000	$	2.25		$	3.25	$	4.28	8,060,000	260,000	$	3.38	$	4.52	24,180,000
Nov-23	11,550,000	385,000	$	3.50	5,100,000	170,000	$	2.29		$	3.26	$	4.29	7,500,000	250,000	$	3.36	$	4.45	24,150,000
Dec-23	11,935,000	385,000	$	3.50	7,440,000	240,000	$	2.43		$	3.26	$	4.29	7,750,000	250,000	$	3.36	$	4.45	27,125,000
4Q23	35,265,000		383,315		$	3.50		16,880,000		183,478		$	2.34		$	3.26		$	4.29		23,310,000		253,370		$	3.37	$	4.48		75,455,000

RANGE RESOURCES CORPORATION

CONSOLIDATED GAS HEDGE POSITION

As of 10/12/2023

		GAS SWAPS							GAS 3-WAY COLLARS									GAS COLLARS						TOTAL
	Hedged		Hedged		Hedged		Hedged		Hedged		Sold Put	Long Put		Sold Call		Hedged		Hedged			Floor		Ceiling		Hedged
	Volumes		Volumes			Price		Volumes		Volumes			Price		Price			Price		Volumes		Volumes			Price			Price		Volumes
	MMBtu		MMBtu/day					MMBtu		MMBtu/day											MMBtu		MMBtu/day								MMBtu
CALENDAR YEAR 2024
Jan-24	9,920,000		320,000	$	3.99	4,262,500	137,500	$	2.50		$	3.36	$	4.12	13,330,000	430,000	$	3.45	$	5.50	27,512,500
Feb-24	9,280,000		320,000	$	3.99	3,987,500	137,500	$	2.50		$	3.36	$	4.12	12,470,000	430,000	$	3.45	$	5.50	25,737,500
Mar-24	9,920,000		320,000	$	3.99	4,262,500	137,500	$	2.50		$	3.36	$	4.12	13,330,000	430,000	$	3.45	$	5.50	27,512,500
1Q24	29,120,000		320,000		$	3.99		12,512,500		137,500		$	2.50		$	3.36		$	4.12		39,130,000		430,000		$	3.45		$	5.50		80,762,500

Apr-24	9,000,000		300,000	$	4.02	4,125,000	137,500	$	2.50		$	3.36	$	4.12	13,500,000	450,000	$	3.53	$	5.68	26,625,000
May-24	9,300,000	`	300,000	$	4.02	4,262,500	137,500	$	2.50		$	3.36	$	4.12	13,950,000	450,000	$	3.53	$	5.68	27,512,500
Jun-24	9,000,000		300,000	$	4.02	4,125,000	137,500	$	2.50		$	3.36	$	4.12	13,500,000	450,000	$	3.53	$	5.68	26,625,000
2Q24
27,300,000		300,000		$	4.02		12,512,500		137,500		$	2.50		$	3.36		$	4.12		40,950,000		450,000		$	3.53		$	5.68		80,762,500

Jul-24	9,300,000		300,000	$	4.02	1,550,000	50,000	$	2.50		$	3.50	$	4.24	13,950,000	450,000	$	3.53	$	5.68	24,800,000
Aug-24	9,300,000		300,000	$	4.02	1,550,000	50,000	$	2.50		$	3.50	$	4.24	13,950,000	450,000	$	3.53	$	5.68	24,800,000
Sep-24	9,000,000		300,000	$	4.02	1,500,000	50,000	$	2.50		$	3.50	$	4.24	13,500,000	450,000	$	3.53	$	5.68	24,000,000
3Q24
27,600,000		300,000		$	4.02		4,600,000		50,000		$	2.50		$	3.50		$	4.24		41,400,000		450,000		$	3.53		$	5.68		73,600,000
Oct-24	9,300,000		300,000	$	4.02	1,550,000	50,000	$	2.50		$	3.50	$	4.24	13,950,000	450,000	$	3.53	$	5.68	24,800,000
Nov-24	9,000,000		300,000	$	4.02	1,500,000	50,000	$	2.50		$	3.50	$	4.24	12,000,000	400,000	$	3.47	$	5.61	22,500,000
Dec-24	9,300,000		300,000	$	4.02	1,550,000	50,000	$	2.50		$	3.50	$	4.24	12,400,000	400,000	$	3.47	$	5.61	23,250,000
4Q24
27,600,000		300,000		$	4.02		4,600,000		50,000		$	2.50		$	3.50		$	4.24		38,350,000		416,848		$	3.49		$	5.63		70,550,000
Cal 24	111,620,000		304,973		$	4.01		34,225,000		93,511		$	2.50		$	3.40		$	4.15		159,830,000		436,694		$	3.50		$	5.62		305,675,000

RANGE RESOURCES CORPORATION

CONSOLIDATED GAS HEDGE POSITION

As of 10/12/2023

		GAS SWAPS								GAS 3-WAY COLLARS									GAS COLLARS						TOTAL
	Hedged		Hedged		Hedged		Hedged		Hedged		Sold Put	Long Put		Sold Call		Hedged		Hedged			Floor		Ceiling		Hedged
	Volumes		Volumes			Price		Volumes		Volumes		Price		Price			Price		Volumes		Volumes			Price			Price		Volumes
	MMBtu		MMBtu/day					MMBtu		MMBtu/day											MMBtu		MMBtu/day								MMBtu
CALENDAR YEAR 2025
Jan-25	11,780,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,780,000
Feb-25	10,640,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	10,640,000
Mar-25	11,780,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,780,000
1Q25	34,200,000		380,000		$	4.12			-		-		$	-		$	-		$	-		-		-		$	-		$	-		34,200,000

Apr-25	11,400,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,400,000
May-25	11,780,000	`	380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,780,000
Jun-25	11,400,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,400,000
2Q25
34,580,000		380,000		$	4.12			-		-		$	-		$	-		$	-		-		-		$	-		$	-		34,580,000

Jul-25	11,780,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,780,000
Aug-25	11,780,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,780,000
Sep-25	11,400,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,400,000
3Q25
34,960,000		380,000		$	4.12			-		-		$	-		$	-		$	-		-		-		$	-		$	-		34,960,000
Oct-25	11,780,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,780,000
Nov-25	11,400,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,400,000
Dec-25	11,780,000		380,000	$	4.12			-	-	$	-		$	-	$	-	-	-	$	-	$	-	11,780,000
4Q25
34,960,000		380,000		$	4.12			-		-		$	-		$	-		$	-		-		-		$	-		$	-		34,960,000
Cal 25	138,700,000		380,000		$	4.12			-		-		$	-		$	-		$	-		-		-		$	-		$	-		138,700,000

	Note - Range also sold 90,000 mmbtu per day Calendar 2025	$4.25 average strike call swaptions

RANGE RESOURCES CORPORATION

CONSOLIDATED GAS HEDGE POSITION

As of 10/12/2023

		GAS SWAPS								GAS 3-WAY COLLARS									GAS COLLARS						TOTAL
	Hedged		Hedged		Hedged		Hedged		Hedged		Sold Put	Long Put		Sold Call		Hedged		Hedged			Floor		Ceiling		Hedged
	Volumes		Volumes			Price		Volumes		Volumes		Price		Price			Price		Volumes		Volumes			Price			Price		Volumes
	MMBtu		MMBtu/day					MMBtu		MMBtu/day											MMBtu		MMBtu/day								MMBtu
CALENDAR YEAR 2026
Jan-26	1,627,500		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,627,500
Feb-26	1,470,000		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,470,000
Mar-26	1,627,500		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,627,500
1Q26	4,725,000		52,500		$	4.14			-		-		$	-		$	-		$	-		-		-		$	-		$	-		4,725,000

Apr-26	1,575,000		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,575,000
May-26	1,627,500	`	52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,627,500
Jun-26	1,575,000		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,575,000
2Q26
4,777,500		52,500		$	4.14			-		-		$	-		$	-		$	-		-		-		$	-		$	-		4,777,500

Jul-26	1,627,500		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,627,500
Aug-26	1,627,500		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,627,500
Sep-26	1,575,000		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,575,000
3Q26
4,830,000		52,500		$	4.14			-		-		$	-		$	-		$	-		-		-		$	-		$	-		4,830,000
Oct-26	1,627,500		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,627,500
Nov-26	1,575,000		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,575,000
Dec-26	1,627,500		52,500	$	4.14			-	-	$	-		$	-	$	-	-	-	$	-	$	-	1,627,500
4Q26
4,830,000		52,500		$	4.14			-		-		$	-		$	-		$	-		-		-		$	-		$	-		4,830,000
Cal 26	19,162,500		52,500		$	4.14			-		-		$	-		$	-		$	-		-		-		$	-		$	-		19,162,500

	Note - Range also sold 40,000 mmbtu per day Calendar 2026	$4.11 average strike call swaptions

RANGE RESOURCES CORPORATION

CONSOLIDATED OIL HEDGE POSITION

As of 10/12/2023

		OIL SWAPS							OIL COLLARS					TOTAL
	Swap		Swap			Swap		Hedged		Hedged			Floor			Ceiling		Hedged
	Volumes		Volumes			Price		Volumes		Volumes			Price			Price		Volumes
	Bbls		Bbls/day					Bbls		Bbls/day								Bbls
CALENDAR YEAR 2023
Oct-23	162,750	5,250	$	72.20	-	-	$	-	$	-	162,750
Nov-23	172,500	5,750	$	72.80	-	-	$	-	$	-	172,500
Dec-23	178,250	5,750	$	72.80	-	-	$	-	$	-	178,250
4Q23
513,500		5,582		$	72.61		-		-		$	-		$	-		513,500

RANGE RESOURCES CORPORATION

CONSOLIDATED OIL HEDGE POSITION

As of 10/12/2023

		OIL SWAPS							OIL COLLARS					TOTAL
	Swap		Swap			Swap		Hedged		Hedged			Floor			Ceiling		Hedged
	Volumes		Volumes			Price		Volumes		Volumes			Price			Price		Volumes
	Bbls		Bbls/day					Bbls		Bbls/day								Bbls
CALENDAR YEAR 2024
Jan-24	124,000	4,000	$	80.00	46,500	1,500	$	80.00	$	90.20	170,500
Feb-24	116,000	4,000	$	80.00	43,500	1,500	$	80.00	$	90.20	159,500
Mar-24	124,000	4,000	$	80.00	46,500	1,500	$	80.00	$	90.20	170,500
1Q24
364,000		4,000		$	80.00		136,500		1,500		$	80.00		$	90.20		500,500
Apr-24	120,000	4,000	$	80.25	15,000	500	$	80.00	$	90.00	135,000
May-24	124,000	4,000	$	80.25	15,500	500	$	80.00	$	90.00	139,500
Jun-24	120,000	4,000	$	80.25	15,000	500	$	80.00	$	90.00	135,000
2Q24	364,000		4,000		$	80.25		45,500		500		$	80.00		$	90.00		409,500
Jul-24	93,000	3,000	$	80.45	15,500	500	$	80.00	$	90.00	108,500
Aug-24	93,000	3,000	$	80.45	15,500	500	$	80.00	$	90.00	108,500
Sep-24	90,000	3,000	$	80.45	15,000	500	$	80.00	$	90.00	105,000
3Q24	276,000		3,000		$	80.45		46,000		500		$	80.00		$	90.00		322,000
Oct-24	-	-	$	-	-	-	$	-	$	-	-
Nov-24	-	-	$	-	-	-	$	-	$	-	-
Dec-24	-	-	$	-	-	-	$	-	$	-	-
4Q24
-		-		$	-		-		-		$	-		$	-		-
Cal 24	1,004,000		2,743		$	80.21		228,000		623		$	80.00		$	90.12		1,232,000

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Range Resources Corporation published this content on 24 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2023 21:04:43 UTC.

Latest news about Range Resources Corporation

Transcript : Range Resources Corporation - Shareholder/Analyst Call	May. 08
Piper Sandler Adjusts Price Target on Range Resources to $43 From $41, Maintains Overweight Rating	Apr. 30	MT
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
Range Resources Corporation Provides Production Guidance for the Full Year 2024	Apr. 24	CI
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

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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

2024-07-21 - Q2 2024 Earnings Release (Projected)

More about the company

Income Statement Evolution

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Ratings for Range Resources Corporation

Trading Rating

Investor Rating

ESG Refinitiv

B-

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Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

35.53 USD

Average target price

37.6 USD

Spread / Average Target

+5.83%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Oil & Gas Exploration and Production

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