HighGravityData

Range Resources — Oct 22, 2024 release

Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000950170-24-116578
Open on SEC.gov ↗
Showing in the filing
Total Wells
“17”
Period
FY2024
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 25
SW PA Dry for FY2024
“11”
Natural gas price differential vs NYMEX for FY2024
“($0.39) to ($0.40) per mcf”
NGL price differential vs Mont Belvieu for FY2024
“+$2.10 - +$2.35”
NGL price differential vs Mont Belvieu for Q4 FY2024
“+$1.00 to +$2.00”
Condensate price differential vs WTI
“$10.00-$13.00 below WTI”
SW PA Super-Rich for FY2024
“9”
SW PA Wet for FY2024
“27”
Total Wells for FY2024
“17”
Total Wells - Remaining 2024 for Q4 FY2024
“17”
Total Wells - 2024 Planned TIL for FY2024
“47”
Share repurchase program availability
“approximately $1.0 billion”
All-in capital budget for FY2024
“$645 million - $670 million”
Annual production for FY2024
“~2.17 Bcfe per day”
Liquids as a percentage of production for FY2024
“over 30%”
Direct operating expense for FY2024
“$0.11 - $0.12 per mcfe”
Transportation, gathering, processing and co… for FY2024
“$1.48 - $1.50 per mcfe”
Taxes other than income for FY2024
“$0.03 - $0.04 per mcfe”
Exploration expense for FY2024
“$22 - $28 million”
G&A expense for FY2024
“$0.17 - $0.18 per mcfe”
Net Interest expense for FY2024
“$0.13 - $0.14 per mcfe”
DD&A expense for FY2024
“$0.45 - $0.46 per mcfe”
Net brokered gas marketing expense for FY2024
“$8 - $12 million”
Natural Gas differential for FY2024
“NYMEX minus $0.39 to $0.40”
Natural Gas Liquids differential for FY2024
“MB plus $2.10 to $2.35 per barrel”
Oil/Condensate differential for FY2024
“WTI minus $10.00 to $13.00”
Exhibit 99.1 · the passage around this item
… earlier in the release
        YTD Wells TIL 3Q 2024   Remaining 2024   2024 Planned TIL SW PA Super-Rich 9 —   9 SW PA Wet 18 9   27 SW PA Dry 3 8   11 NE PA Dry     —   —   — Total Wells 30 17   47     Financial Position and Repurchase Activity   As of September 30, 2024, Range had net debt outstanding of approximately $1.44 billion, consisting of $1.72 billion of senior notes and $277 million in cash. During the third quarter, Range repurchased in the open market $3.0 million principal amount of 4.875% senior notes due 2025 at a discount.   During the third quarter, Range repurchased 800,000 shares at an average price of approximately $30.10. 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
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.