Range Resources — Oct 22, 2024 release

The Company has approximately $1.0 billion of availability under the share repurchase program.     Guidance – 2024   Updated Capital & Production Guidance   Range’s 2024 all-in capital budget is $645 million - $670 million. Annual production is now expected to be ~2.17 Bcfe per day for 2024, an increase of approximately 2% over the last three years of maintenance as a result of well performance and optimized gathering and compression. Liquids are expected to be over 30% of production.     Updated Full Year 2024 Expense Guidance   Direct operating expense: $0.11 - $0.12 per mcfe Transportation, gathering, processing and compression expense: $1.48 - $1.50 per mcfe Taxes other than income: $0.03 - $0.04 per mcfe Exploration expense: $22 - $28 million G&A expense: $0.17 - $0.18 per mcfe Net Interest expense: $0.13 - $0.14 per mcfe DD&A expense: $0.45 - $0.46 per mcfe Net brokered gas marketing expense: $8 - $12 million Updated 2024 Price Guidance   Based on recent market indications, Range expects to average the following price differentials for its production.       FY 2024 Natural Gas: (1) NYMEX minus $0.39 to $0.40 FY 2024 Natural Gas Liquids: (2) MB plus  $2.10 to $2.35 per barrel FY 2024 Oil/Condensate: WTI minus $10.00 to $13.00   (1) Including basis hedging (2) Mont Belvieu-equivalent pricing based on weighting of 53%