From GlobeNewswire: 2025-02-25 16:18:00

Range Resources Corporation announced its fourth quarter 2024 financial results, with cash flow from operating activities of $945 million. They reduced net debt by $172 million, returned $77 million in dividends, and invested $65 million in share repurchases. Production averaged 2.18 Bcfe per day, with proved reserves of 18.1 Tcfe. The company plans for a three-year outlook through 2027, targeting daily production of 2.6 Bcfe by then.

For 2025, Range plans an all-in capital budget of $650 to $690 million, with a focus on maintenance capital and drilling for future growth. The company expects to target annual production of approximately 2.2 Bcfe per day, with liquids making up over 30% of production. Range plans to maintain current production levels by turning to sales approximately 600,000 lateral feet in a year.

Range Resources Corporation secured incremental transportation, processing, and export capacity to support planned production growth. This includes 300 Mmcf per day of processing capacity, 250 Mmcf per day of gas transportation, and 20,000 bbl per day of NGL takeaway and export capacity. These additions are expected to start in 2026.

Range Resources Corporation reported GAAP revenues of $626 million for the fourth quarter of 2024. Cash flow from operations before changes in working capital was $312 million. The company’s total unit costs per mcfe were $2.40 for the quarter. Production of natural gas, NGLs, and oil for the quarter averaged 2,202,500 mcfe per day. Range’s average realized prices after hedges were $3.48 per mcfe for the quarter.

Range Resources Corporation provided guidance for 2025, including an all-in capital budget of $650 to $690 million, annual production of 2.2 Bcfe per day, and expected price differentials for natural gas, NGLs, and oil. The company also outlined expense guidance for the year, including direct operating expenses, transportation costs, taxes, and more.

Range Resources Corporation utilizes non-GAAP financial measures such as cash margin per mcfe to supplement its presentation of financial results. The company focuses on maintaining a strong financial position, investing in growth, and maximizing shareholder value.

(Source: Globe Newswire)



Read more at GlobeNewswire:: Range Announces Fourth Quarter 2024 Results and Three-Year